Reg 2 landowners receive cement, steel subsidies to kickstart home construction

…over 1000 lots distributed in the region

The rollout of the Steel and Cement Housing Subsidy has commenced for successful applications in Region Two (Pomeroon-Supenaam), as persons finally received their vouchers to kickstart the construction of their new homes.
The first 50 persons were given their vouchers at a ceremony held at State House, Anna Regina.

Housing and Water Minister Collin Croal and Chief Executive Officer of the Central Housing and Planning Authority, Sherwyn Greaves led the exercise. Minister Croal, in his remarks, spoke to the economic spinoffs this initiative will have on the region. He noted that through the voucher distribution, approximately $15 million will be injected into the local economy.
“So, by the time we finish in March, it is expected we will have close to 500 beneficiaries across the coastal region that will benefit from this programme,” he said.
Minister Croal spoke about the housing developments in the region and highlighted the steps taken to address the backlog. Mention was also made of other interventions that were made in the region to make homeownership easier.
Already, the Ministry has developed two new housing areas at Buxton and St Joseph in Charity and has allocated approximately 500 house lots. Additionally, 500 lots have been allocated in Onderneeming, bringing the total to 1000 house lots distributed since August 2020.
“We are talking about $690 million investment for infrastructure, which means opening up the road, creating new access because you know, that area, how it was, the difficulty in the Charity area in terms of flooding,” the Minister stated.
Meanwhile, the Chief Executive Officer (CEO) of CH&PA, Sherwyn Greaves, acknowledged the banking sector’s efforts to reduce interest rates and make loans more accessible. He also noted that the Government recognises the challenge of the initial investment, which can be as high as 5-10 per cent of the total loan cost, and has designed a programme to assist people to start the construction of their homes.
Over the coming weeks other successful applicants will be called as the distribution process continues. The vouchers can be redeemed on the Essequibo Coast at Builders Hardware Anna Regina, Puran Manman, Annandale and Jainarine Singh, Airy Hall.
This initiative comes from a commitment made by President Irfaan Ali at the International Building Expo 2022. For homes $6 million and lower, Government will support homeownership to give every builder steel and one sling of cement. Secondly, for every other category over $6 million until $25 million, two slings of cement will be provided. Two tenets must be in place before the subsidy is released – ownership and an approved building plan. Persons occupying private lands can also apply.