More than 50 per cent of the funds allocated in 2022, to further develop the housing sector countrywide were expended by June. The mid-year report produced by the Ministry of Finance reveals that $8.1 billion of the $12.4 billion assigned for the aforementioned purpose, has been exhausted.
As government continues to develop housing schemes, some 1,843 persons have expressed appreciation, after being allocated house lots for the first half of the year. This takes the total allocation of house lots to 11,680, from August 2, 2020 to the end of June 2022.
In keeping with government’s commitment of providing 50,000 house lots by 2025, a further 8,000 will be distributed by the end of 2022. It is the intention of the PPP/C Administration to deliver approximately 20,000 house lots by year-end.
Government has also promised to ensure there is sufficient infrastructure in housing areas, allocating some $11 billion from budget 2022, and by half year, the sum of $7.4 billion was spent to upgrade 10 kilometres of roads in Regions Two, Three, Fur, Five, Six and 10. The money was also utilised to connect 750 LED streetlights across the country.
Government also installed electricity and distribution networks in 12 housing schemes in Regions Three, Four, and Six, with additional works to be done in 14 new housing areas by year-end.
In the first half of the year, the Central Housing and Planning Authority also launched the Home Construction Assistance Programme, which saw 399 persons applying for building assistance from Regions Three, Four, Six and 10. This programme provides finance for persons building their homes.
Applicants can choose from three pre-designed housing units costing $7 million, $9 million and $12 million. This initiative also assists in pre-qualifying persons for loans with financial institutions.
In addition to the plethora of achievements in the housing sector for the first half of the year, 800 more families will be able to live more comfortably with the distribution of home improvement subsidies.
Government is continuously achieving its targets in the housing sector, having provided thousands of house lots to families, who have testified that their dreams of having their own homes, is now becoming a reality under the PPP/C government. (Department of Public Information)
