Guyana: Private sector initiative to develop $800 million ‘Jagsville’ housing scheme

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By Akeasha Boodie

GEORGETOWN, Guyana – Essequibo residents will not be left out of the housing boom, but will soon benefit from an $800 million (US$4 million) housing scheme being established by S. Jagmohan Hardware Supplies and Construction Services.

The ministry of housing and water has welcomed this multimillion-dollar private sector initiative as yet another demonstration of investor confidence in the Dr Mohamed Irfaan Ali-led administration.

Minister Collin Croal, said the new scheme will boost the national housing drive and will help the government to realise its manifesto promise to provide sustainable housing solutions for the nation.

“[It is] a very important investment for the people of Essequibo and Guyana…It’s important because while you have investments at the government level, equally important is investment by private sector and that is why we welcome this initiative.”

Minister Croal made this statement [yesterday] in Anna Regina, where he and a team distributed 91 land titles and transports in fulfilment of a promise president Ali made to residents during an outreach there last Wednesday.

Some 171 lots will be developed under the project.

“Once all of that is developed, it means a lot for this community of Essequibo, because a lot of jobs will be created, employment as well as wealth generation,” the minister said.

In addition to the over 200 S. Jagmohan Hardware employees, hundreds of Essequibo Coast residents also stand to benefit from jobs and other trickle-down benefits, during the construction phase.

Minister Croal lauded the efforts the Head of State has put into the housing sector.

“Our president has been instrumental in supporting the work we do at our Ministry in fulfilling our mandate,” he said.

Additionally, the ministry is undertaking many initiatives aimed at cushioning the fallout that the housing sector endured under the previous administration.

“Our drive is to ensure that across the country, we deliver our manifesto commitment of over 50,000 house lots. That means by simple terms a minimum of 10,000 a year…In the entire country for the last five years there were only 7,000 plus allocations,” he explained.

Named “Jagsville” the new gated community will be located within Windsor Castle. Principal of the project, Mr. Tamesh Jagmohan, said he is relieved at the Housing Ministry’s response.

He told DPI that he had gotten approval for the project from the Anna Regina Town Council some three years ago, but was awaiting approval from the Central Housing and Planning Authority to proceed.

“We revisited this project within months of the new government and we were able to able to receive the permission for this project on or around December 10of this year… If we want to have development in this country, we have to have speed…three years for a simple approval can really dampen one’s spirit…We could have already had families installed in those homes,” he said.

Within the past six days, Mr. Jagmohan said he has already mobilised equipment, procured raw material and engaged all of the necessary agencies including the New Building Society and the banks.

“We are days away from serious movement and action,” he said. The Jagsville scheme will boast lots ranging from 5,000-43,560 square feet and is expected to feature matured landscaping, access to a playground, a pool and tennis court.

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