President of the firm, Mr. Edward Lai said there is great potential in housing here and he is confident they can continue making a positive contribution to the local economy, after building and delivering 50 homes last year.

He said they ventured into Guyana three years ago after being similarly involved in Canada and Jamaica and have since been engaged in research to evaluate the Guyanese situation.

Lai said World Homes was invited by President Bharrat Jagdeo and, recently, it was given allocations at Lowlands and Mon Repos, East Coast Demerara (20 and 13 lots, respectively); Tuschen, East Bank Essequibo (20 lots); Diamond, East Bank Demerara (60 lots) and Cornelia Ida, West Coast Demerara (25 lots).

According to him, he expects more at Parfaite Harmonie, West Bank Demerara (200 lots), Bartica/Potaro, along Essequibo River (50 lots) and an additional 50 at Diamond.

Lai said a survey is being conducted at Linden where he hopes to build another 100 houses.

He said work has commenced on 50 sites at Diamond and each building would be constructed within three or four weeks, providing employment for approximately 12 people on one, excluding those who transport the materials.

Describing the two-bedroom type erected flat on the ground as "ideal" for a young couple, a small family and public servants, Lai said the size is 500 square feet, with all washroom facilities, a kitchenette with sink and cupboard, as well as electrical installations.

When the property is handed over, the owner is given a certificate that guarantees repairs to any defects detected within three months, free of cost.

Lai said World Homes would also build to suit the owner's specification, on his/her own land, too, but the main focus is to help low income families.

The ongoing enterprise should create jobs for about 600 people, he said.

Lai said prospective home owners are required to first meet an official of World Homes for an interview and the process includes obtaining a loan from a lending institution.

So far, mortgage financing has been secured from Citizens Bank and New Building Society (NBS), Lai said.