Gov’t teams up with private developers to build 8000 homes
With more than 9000 housing applicants in the system, the Government is moving to have approximately 8000 homes constructed along the East Bank Demerara (EBD) by 2021.
The Central Housing and Planning Authority (CH&PA) has shortlisted seven private companies to embark on a Public Private Partnership (PPP) aimed at constructing homes.
Chief Executive Officer (CEO) of the Authority, Lelon Saul explained that this model will address the demand for housing for low to moderate income families as well as young professionals.
He explained that PPPs reduce the burden of the public sector financing in these projects.
The seven companies are Reno Vess, Namalco, Mohamed Ramit and sons, Green Heart Tree Energy, Eco Energy, FTM and China Dillian.
Director of Projects, Omar Narine said the companies will be further assessed based on their project designs and ability to finance those projects.
The next step, he said, would be to enter into formal arrangements with the final list of private developers.
Minister of Communities with responsibility for Housing Valerie Adams Yearwood said schemes will be constructed at Great Diamond, Little Diamond and possibly Cummings Lodge.
She explained that there is a significant demand for housing in Region Four but the ultimate plan is to expand this public-private partnership initiative across the entire country.