Kaieteur News – The International Building Expo 2022 not only seeks to address Guyana’s exploding construction sector, but also forms part of the government’s strategy to address a backlog of some 50,000 applications, for house lots, Minister of Housing and Water Colin Croal has explained.
He made the statement during a walkthrough of the National Stadium facility yesterday where preparatory works are in full swing for the launch of the July 22-24 event this weekend. With 11,700 allocations already on the way, at least 5000 more persons will receive house lots from the ministry over the three day period.
Croal told the media that the demand for housing is greater than supply, so the expo by itself is being used to highlight new technology, equipment and material that are cheaper and durable while addressing substantial increases in the need for housing facilities. “A lot of persons recognize the cost of housing because we are having a demand obviously, a demand more than supply. And that is why we are happy that they’re other companies on board to showcase what they have. So the offer will not be only for government housing but also for private companies who have their own housing for sale,” minister highlighted. He said that there will however be collaboration between the private companies and the ministry as those potential homeowners will have to go through the ministry’s system, “as to clear our backlog in ensuring that over 50,000 eventually can benefit from whether a lot or housing.”
As it relates to homes to be distributed this weekend, Croal explained that the locations are primarily “virgin lands” that were once sugar cane lands. He explained that the ministry is allocating the lands in advance, ahead of preparations since the infrastructural work for the location will form part of the government’s 2023 work programme. “We have the designs and we go out to tender by the end of the year and it forms part of our new year budget.” More recently, some new home recipients have lamented the state of infrastructural facilities on receiving their allocations. Croal said that there will be phased implementation of necessary requirements. He said that a road network of crush and run will be implemented first, but will be upgraded to concrete or asphalt based on increased occupancy. Drainage, culverts, pipe connections and electricity facilitation will also be developed as numbers increase.
Among the displays by the Housing Ministry are moderate and young professional houses. There will also be a display of the model houses for Barbados which is based on collaboration between Guyana and that Caribbean nation. Outside of that, there is the exhibition of the much talked about 100 percent recycled plastic compact block house made possible by a Guyanese and Columbian firm’s partnership. Another prefab is the 3D design house, which takes a matter of days to print and build all together. Minister Croal highlighted that the government has been working closely with lending agencies and have been showing them the government’s plan for the construction sector. As such, those firms have been motivated to reduce in particular, their mortgage interest rates at which they are lending. He said that more of the private banking institutions are coming onboard in the mortgage sector knowing that right now there is a minimum of 50,000 house lots to be allocated. In addition, there are a number of government programmes such as the home building initiative where prequalified persons will go through the ministry to access funding for home construction whether the lot was ministry allocated or privately owned. He said that persons interested in government housing, have to go through a system and they must have a certain ability before they are sent on to the banks for prequalification. As such, several banking institutions will be part of the expo so that participants will have direct input from the lending agencies. “As more persons are on board, we want them (banks) to bring down the cost of their housing so some of the designs you see are to come down at a minimal cost,” the minister related.
There are over 320 booths taking part in what is the biggest building expo event to be held in the country. The minister said space was definitely an issue given the number of persons who wanted to take part in the expo. The compound layout includes an equipment zone to the northern end of the facility, a One Guyana location, a vision tunnel where virtual displays of Guyana in 2030 will be highlighted, food court, and massive main tents hosting about 80 participants each and of course, the homes constructed with modern designs and technology. Seminars are expected from government agencies and firms to provide relevant construction and home ownership information.
Minister Croal said that more than $100M is expected in returns from the expo, which was allocated just over $25M for the hosting of this event. He said while, there are overheads which the amount must cater too, discussions have not been had on what the money would go towards.
“Persons will have an option of houses they would like to future own … because this is matched with our home ownership, our dream and our allocation exercise,” Minister Croal opined, He said, “We want this to be a family atmosphere. For the family to come walk through; to look at some of the options that are available to them for part of their future planning. This is not just about today; this is helping you to give you as much information as possible, making you aware of new technologies of new development for your own homeownership even for transforming your existing home, to do exiting repairs and making changes. We want every person who is interested, whether it is homeownership, whether its building for private sector, everyone can learn from this expo.”
