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Govt. pledges millions of dollars in free building materials for eligible applicants -Slashes interest rates for houses and buildings
Building Expo 2022…
By Shervin Belgrave
Scenes from Friday’s Launch of Building Expo 2022.
Kaieteur News – Guyana’s largest and most anticipated Building Exposition officially opened on Friday afternoon at the Providence National Stadium.
The event was noticeably enveloped by grandiose decorations, state-of -the-art architectural layouts for hundreds of booths and all the pomp and ceremony, one could envision for the opening that featured presentations from President, Irfaan Ali; Housing and Water Minister, Collin Croal; and Minister within his ministry; Susan Rodrigues.
President Mohamed Irfaan Ali making his feature address.
Minister of Housing and Water, Collin Croal reminding citizens of his government’s plans for the housing sector.
Junior Housing Minister, Susan Rodrigues, delivering her speech at Building Expo 2022.
First Lady, Ariya Ali and Minister Rodrigues cutting the ribbon to officially open the expo to the public.
Apart from the enamoring speeches, the ceremonial ribbon cutting and the attractive fireworks that painted the sky to commemorate the expo, hundreds of Guyanese who paid keen attention to the President’s feature address, especially those who will become first time home owners – will definitely be vying to collect free steel and a sling of cement to start building the foundation of their home.
Ali made the foregoing announcement as he neared the end of his 50-minute-long speech. The Head of State said, “I wish to announce first that for affordable homes, homes $6M and below, the Government of Guyana with effect from the last day of building expo will support home ownership by giving to every builder in this category, the steel and one sling of cement that is required to build your foundation.”
Spoken-word Artiste, Daniel Araujo, performing her piece.
As the president made this announcement, screams of excitement erupted from in the crowd.
But President Ali did not end there. He further noted that every other category of home ownership which includes young professionals and middle income will also receive cement to build their foundation.
Ali said, “To persons building homes from $6M to $25M, we will give two slings of cement.” Some of the attendees clapped and cheered but then responded to the president, “Wuh happen to the steel?”
Kaieteur News understands that one sling of cement is equivalent to 35 sacks and the current price per sack is around $2000. That means that government will be giving away approximately $70,000 worth of cement to affordable home owners and $140,000 worth of cement to individuals in the middle income and young professionals’ category.
Furthermore, President Ali disclosed that banking institutions have agreed to reduce the down payme
Guyana’s dancehall artiste Cush, performing the official theme song for the Building Expo
nt required for homes below $6M to 0% and to decrease the interest rate for houses up to $9M to 3.8%. This was also well received by scores of Guyanese.
Meanwhile, Minister within the Ministry of Housing and Water, Susan Rodrigues said, that at the end of the three-day building expo, “5000 Guyanese will be on their way to home ownership”.
She added that at this expo, her government is showcasing how ambitious it is by introducing some of the latest technology used in home construction.
One of the dancers from the Indian Culture Group that performed.
“So today, we will debut one of the newest technology and innovation in construction, which you will witness when you see a house being built using 3D printing technology,” Rodrigues told the audience.
Minister Collin Croal also reminded the audience of his housing ministry’s initiative to work overtime in making sure that every Guyanese becomes a home owner and has access to affordable financing.
The last time Guyana held a building expo was in 2013.
This year, over 300 exhibitors will be showcasing innovative ways and modern techniques in the construction and housing sector. For those who may need help in financing, representatives from various commercial banks will be there to provide on loan packages. Building Expo 2022 concludes on Sunday, July 24, 2022.
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