The Central Housing and Planning Authority (CH&PA) on Saturday signed a Memorandum of Understanding (MOU) with Republic Bank Limited (RBL) for the financing of 500 low-income homes at Leonora, Region Three, the Department of Public Information (DPI) has reported.
The DPI said the 20 x 30 (625 square ft) two-bedroom flat units will be built at a cost of $5.5 million each.
Minister of Housing and Water Collin Croal and Minister within the Ministry Susan Rodrigues witnessed the signing between CH&PA’s Chief Executive Officer Sherwyn Greaves and Republic Bank’s General Manager (Credit) Venus Frith at the International Building Expo at the National Stadium at Providence.
During brief remarks at the signing ceremony, Minister Croal said the project will commence immediately with the construction of the first 100 homes under the project. “One can see the commencement of work in the new week, where the steel for the foundation will be placed,” he was quoted as saying.
