President announces construction of 300 prefab homes for rental during CPL

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President Dr Irfaan Ali at the launch of Building Expo 2022

…proceeds to fund housing for less fortunate families 

President Dr Irfaan Ali has announced plans to roll out a new “innovative model” that will see the construction of 300 homes to be used as rental properties during the Caribbean Premier League (CPL) in September.

The revenues earned from this project will be used to fund housing for vulnerable families.

The Head of State made the disclosure during his feature address at the launch of the International Building Expo 2022 at the Pegasus Hotel on Wednesday night.

“We’re looking at a way in which we can marry cricket with uplifting people out of poverty. So we are setting aside land to build 300 prefab homes. Now, the prefab homes will be used during cricket to house people…and the revenue from that rental will go as down payment to the banks …”

Such “innovative” initiatives, the Head of State added, will “change the face of the country”.

Tangible Results

The President spoke of the growth and evolution as well as the “tangible results” of the Building Expo since its inception in 2010.

He stated that “the Building Expo is designed to showcase the development trajectory of the government from a construction perspective so that persons in the private sector, in the banking sector, in the commercial sector can align their own vision and align their own business model with the direction in which the government is going.”

President Ali explained that technology plays a key role in the housing sector and said that new and innovative ideas are welcome.

“We also have been able to develop our own technology, and we have been able to perfect our own art here in Guyana. So we are perhaps, I will say, in the top 10 tier of affordable housing, the cost per square foot for affordable housing globally.”

The President reiterated that the Building Expo is one of the key events which will convey the country’s development trajectory.

“It is an opportunity to basically narrate the future for planning and for positioning. And, that is what Building Expo help us to do, position the country.”

For this reason, he added, all other sectors must be involved in the event, as the building and construction sectors cut across all sectors. President Ali said that this is the year of opportunity as he encouraged investors to catalyse the opportunities and make use of the development paradigm.

The launch event, held under the theme ‘A New Frontier for Building a One Guyana’, was attended by members of the Government, including the Minister of Housing and Water Collin Croal, members of the Diplomatic Corps and numerous private sector representatives.

International Building Expo 2022 will run from July 22-24, 2022, at the National Stadium in Providence.