Prospect Housing Units slated for December completion

CONSTRUCTION OF HOMES FOR 100 LOW-INCOME EARNERS AND A FURTHER
200 FOR YOUNG PROFESSIONALS is scheduled form completion this December,
according to Housing and Water Minister, Collin Croal.
Work has already commenced on the flat and elevated structures being built in Prospect on the
East Bank Demerara corridor. The project involving the 300 new homes forms part of the
government’s larger plan to provide sustainable, affordable housing for Guyanese.
Currently, contractors are building 50 of the 100 low-income units. The 600 square feet 2-
bedroom homes cost some $5.5M each. Homeowners paid $300,000 for the land.

Minister Croal said while construction work on the first 50 homes commenced two months ago
and is expected to be competed in December, mobilisation on the remaining 50 low-income units
is expected to commence shortly.
He stressed that once the houses are completed, pre-qualified persons will be able to access the
homes.
“The beneficiaries for this are persons who have been pre-qualified. They come from within the
system they have indicated their interest in terms of the housing programme and we submit that
information to the banks (which) do their due diligence. Once they are pre-qualified, they
become part of the list for the beneficiaries for the houses,” Croal explained.
Eleven builders were awarded contracts for young professionals $13.9M homes which will
consist of three bedrooms, including one self-contained room. The cost of the property includes
the $1M price for the land.
“We are also happy with the progress they have just started so you can see they are working on
the foundation but the timeline we are looking for them to complete is January of the new year,”
Croal said.

So far, some $1B has been spent for the first phase of the project which includes, drainage, water
and electrical network in the Prospect area.