Condominiums, townhouses sees 70 expressing interest

Housing and Water Minister, Collin Croal

The Housing and Water Ministry has received some 70 Expressions of Interest (EoI) for the construction of condominiums and townhouses here, with the passage of the Condominium Bill.

Minister Collin Croal disclosed that the ministry has commenced the administrative aspect, which allows investors to register for the construction of Condominium at the Central Housing and Planning Authority (CHPA).

“We have moved on that aspect and so we expect a lot of applications for persons to construct similar types of buildings,” Croal said in response to the media on the sidelines of the recently concluded International Building Expo.

Minister Croal stressed that as Guyana’s economy progresses, there is a need for higher standards and more modern approaches to housing development.

He revealed that already, Guyanese-owned Trican Development Inc is planning to construct a 10-storey building to be used for 54 condominiums on three acres of land in Cummings Lodge.

“That is why Guyana is expected to evolve because it provides a gain, another lifestyle, another type of housing you can benefit from…you have a space, you pay for that space and no additional responsibility in dealing with yard space issues if you are busy or on the move,” he explained.

The minister described the Condominium Bill 2022, as a ‘modern’ piece of legislation, it was passed on May 17 in the National Assembly, paving the way for the construction of condominiums and the conversion of existing buildings into units for individual ownership.

Croal stressed that more importantly, it allows persons who have purchased duplexes or condominiums from the state to access their ownership documents for their lands.

It was revealed that the crafting and tabling of such a bill fulfills the promise of the Government after it was discovered that the former Coalition Administration constructed duplexes (a home with two individually-owned units in one building) without amending the relevant legislation that guides the regulation of such properties.