With the approval of the condominium bill, the Ministry of Housing and Water has received around 70 Expressions of Interest (EOIs) for building condominiums and apartments in the city here.
The minister, Collin Croal, said that the ministry has started the administrative aspect, which allows investors to register for the construction of condominiums at the Central Housing and Planning Authority (ATSHP).
“We have moved in that respect and so we expect a lot of applications for people to build similar types of buildings,” Minister Croal told DPI on the sidelines of the recently concluded International Construction Exhibition.
The Minister said that as Guyana’s economy progresses, there is a need for higher standards and more modern approaches to housing development.
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 at Cummings Lodge.
“That’s why Guyana is expected to evolve because it offers a benefit, a different way of life, a different kind of housing that you can benefit from… you have a space, you pay for that space and there’s no additional responsibility in dealing with yard space issues if you are busy or on the move,“ he explained.
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Described as a ‘modern’ piece of legislation, the Condominium Bill 2022 was passed on 17 May in the National Assembly, paving the way for the construction of condominiums and the conversion of existing buildings into individual ownership units.
Most importantly, it allows people who have purchased duplexes or flats from the state to access their title deeds for their lands.
The drafting and introduction of such a bill fulfills the promise of the PPP/K Government after it was revealed that the former coalition administration built duplexes (a house with two individual units in one building) without changing the relevant legislation governing the regulation. of such properties. [Department of Public Information]
