Building Expo wraps up with record housing loan applications totaling billions

In a notable response, the New Building Society received approximately 1,500 queries for low and middle-income housing loans. Additional Information from Scotia Bank suggest $1.2 billion in loan requests and hundreds more from other prospects.

This influx of applications comes even as the government has worked with local banks to slash mortgage rates in keeping with President Ali’s commitment to offering Guyanese affordable housing.  The sheer volume of applications received underscores the responsibility of financial institutions to support Guyana’s extensive housing drive.

In addition to the substantial loan applications, the expo featured several other significant developments. Attendees had the opportunity to explore innovations in housing and see first hand the transformation of Guyana’s infrastructure. They also toured several government and private model houses, which provided insights into the future of housing design and construction in the country.

The event also facilitated the distribution of hundreds of land titles and transport documents. Numerous land sales were completed, with sale agreements being finalized and distributed, further advancing the housing and infrastructure agenda.

The International Building Expo 2024 has been hailed as a resounding success, not only for its record-breaking loan applications but also for its role in advancing Guyana’s housing sector and promoting sustainable development.