Home-owner Mr. Vibert Madhoo said he is very happy to have the keys to his house, while Ms. Yonette Durant, another home-owner said she is delighted to have her home. She noted that this will save her from paying a large sum of rental per month and she is thankful to the Government for facilitating the process. Ms. Rosita Roopnarine said: "I feel happy now that I have my own house and I am grateful to the Government. I know the Government has been distributing many house lots and many of us get help."

Minister of Housing and Water, Mr. Shaik Baksh, who was at Mon Repos yesterday, said it was a very significant day for those who had received the keys to their new home.

The houses are flat concrete structures with two bedrooms, toilet and bath facilities, kitchen, and living room. The houses are also equipped with plumbing and electrical fittings.

The new scheme has about 500 house lots and contracts have been awarded for the construction of roads and drainage networks along with the water distribution systems. It was noted that the land for the new scheme was acquired from the National Agricultural Research Institute (NARI).

It was highlighted that this is the first time that Everest Construction Inc. has constructed low-income houses, which are being sold at a cost of $1.5 million.

A contract worth $68M was awarded to Contractor Ravi Bhagwandin for the construction of the road network, while Contractor Ramesh Ramchand received a $15M contract for the water project.

The water system in the scheme will be linked to the major water project at La Bonne Intention (LBI) and residents will be provided with treated, safe potable water.

Minister Baksh said, 60 per cent of the infrastructural development in the scheme would be completed by March 2003. He has urged allottees of the Scheme to occupy their lots. The Minister announced that allottees have 12 months to start building their houses from the date of allocation.

The Minister pointed out that many persons have applied for the houses and there is a high demand for them. He added that a decision would be taken by Wednesday to provide Everest Construction Inc. with 10 more lots. He said he is impressed with the development that is taking place in the Scheme at present.

Baksh said Government is stimulating the housing drive across the country. He explained that Government had facilitated the process for the construction of 150 model houses, which have already been sold out. A revolving fund was set up for the construction of 500 houses across the country.

He added that they have recognised the role of the private sector in the housing drive in Guyana and they are encouraging other private investors to come in and move the process forward.

He urged residents to make use of the mortgage institutions to access finance to build their homes. The Citizens Bank, National Bank of Industry and Commerce (NBIC) and the New Building Society (NBS) are providing loans for low-income housing in Guyana.

Chairman of the Guyana Sugar Corporation (GUYSUCO) Mr.Vic Ouditt, who was present at the function, said GUYSUCO is pleased with the progress in the housing drive. He pointed out that they have released about 12,000 acres of land for housing throughout the country.

He pointed out that the housing sector can go a far way once GUYSUCO and the Housing Ministry continue to work together.

Managing Director of Everest Construction Inc. Mr. Imtiaz Zafaralli said about 800 persons have applied for houses through their Company, but they are awaiting the houselots to construct the houses.

Everest Construction Inc. is a New York-based company, which recently registered as a subsidiary in Guyana. The Company's main objective is to fully support the Ministry of Housing's policy to provide affordable residential housing for all Guyanese in the low, middle and high-income categories.