New housing package targeting young professionals in the works

The Ministry of Housing has announced a homeowner’s package targeting young professionals that would see them owning turnkey homes costing $8.5 million each, in one of the housing development schemes.

A Government Information Agency (GINA) press release stated that the ministry is currently in talks with the private sector to have this project materialise. It is envisioned that under this plan, a package will be offered where land and a three-bedroom home will be given for a total cost of $8.5 million.

GINA stated that Housing Minister Irfaan Ali has indicated that over 600 house lots have already been allocated in the re-migrant scheme at Providence on the East Bank Demerara (EBD), which was launched earlier this year. He stated that the remaining 400 will be allocated shortly.  The ministry, Ali said, had anticipated 500 applications, but received over 3,000, a sign that “persons want to come home and this is because they have confidence in Guyana’s economy.”

The ministry is working to get the first phase completed and the second commencing soon.
According to the release, the ministry is currently in the process of developing schemes at Mon Repos, Good Hope, Providence, Herstelling, Mocha Arcadia and Mahdia. There is also $120 million budgeted for the construction of a well at Providence which will service existing and new schemes along the EBD corridor

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