Housing Ministry launches Foundation Programme to fast-track homeownership

…intended to move beneficiaries from land ownership to completed homes

The Housing Ministry, along with its Central Housing and Planning Authority (CH&PA), on Tuesday launched its Foundation Programme, a new initiative designed to assist house-lot beneficiaries in taking the first critical step towards homeownership by providing standardised reinforced concrete foundations for future homes.
The programme is being introduced initially in the Leonora and Meten-Meer-Zorg Housing Schemes in Region Three (Essequibo Islands-West Demerara), with plans to expand to other housing developments across the country in the coming months.

During the launch of the initiative, Housing Minister Collin Croal emphasised that the programme formed part of the Government’s continued commitment to making homeownership more accessible. He added that it supported the Government’s broader agenda to significantly expand the country’s housing stock and improve occupancy within newly-developed housing schemes.
“We want to move away just from the focus on allocation of land to help on homeownership,” he expressed.
The Housing Minister further emphasised to attendees, who all had house lots but had not started building, that the programme represented another practical measure to reduce barriers to homeownership and help families transition from land ownership to home construction.
“Owning a house lot is only the beginning of the journey. This Foundation Programme is intended to help beneficiaries move from ownership of land to the construction of a home. By providing a strong and reliable starting point, we are making it easier for families to begin building and creating lasting communities,” Minister Croal stated.
He also clarified that the programme was not intended to take work away from private contractors, noting that “there’s space for every contractor; there’s space for every modular builder; there’s space for every labourer; there’s enough space.”

In fact, he explained that the programme is optional and does not prevent beneficiaries from building traditionally or hiring contractors of their choice.
“What we are doing today does not take away from you also engaging private contractors and building on your own methodology,” he noted.
Also delivering remarks during the launch, the Minister within the Housing Ministry, Vanessa Benn, emphasised the significant investments made by the Government to ensure citizens own their own homes.
In fact, she highlighted that it costs about $4 million to develop a single house lot, which is then distributed to citizens at heavily-subsidised costs.
“Seventy-five per cent of the cost of development of every house lot in our country is subsidised by our Government and I think that is worth a round of applause,” she noted.
Under the Foundation Programme, beneficiaries will have access to three standardised foundation options designed to accommodate homes measuring 400 square feet, 600 square feet, and 950 square feet.
The 400-square-foot foundation is intended for a one-bedroom structure and will cost $600,000. The 600- square-foot foundation supports a two-bedroom house and will cost $800,000. The 950-square-foot foundation is for a three-bedroom house and will cost $900,000.
These designs provide flexibility for families at different stages of home construction while ensuring that each foundation meets established engineering standards and specifications.
House-lot beneficiaries across Guyana will soon have the opportunity to benefit as the initiative is progressively rolled out in additional regions.
According to a statement from the Housing Ministry, this phased implementation will allow more families nationwide to access support that brings them closer to realising the dream of homeownership.
Moreover, this initiative complements the Steel and Cement Subsidy programme launched in 2022 to assist low- and middle-income families with house lots by providing building material vouchers to kick-start home construction.
On Tuesday, Minister Croal noted that to date, the Government has disbursed close to $1 billion under that programme.
Representatives from Demerara Bank; Republic Bank; Guyana Bank for Trade and Industry (GBTI); and Citizens Bank were also present to provide information on financing and loan prequalification to interested beneficiaries.