| – Ali-Presents opportunities for businesses and consumers With 28 large sponsors already onboard, international companies pledging participation, and registration of 103 exhibition booths, the Housing Ministry is gearing to host its fourth International Building Exposition.From July 5 to July 7, the tarmac of the National Stadium, Providence, East Bank Demerara would be transformed into a market place for goods and services offered in the building and construction industry, home furnishings, and financial sector.This is according to Housing Minister, Irfaan Ali, at a press conference, yesterday, held at the National Stadium, three full scale houses are being constructed for the grand event. Ali,Jerseys NFL China, in the presence of four corporate sponsors emphasized the numerous opportunities International Building Expo 2013 presents for both businesses and consumers.Full scale houses being constructed for International Building Expo.The exposition, which was launched on May 31, last, at the Princess International Hotel, Providence East Bank Demerara has attracted the participation of 10 companies from Trinidad and Tobago, Suriname, Brazil, Venezuela, United States of America, Canada,Cheap NFL Jerseys China, China,Wholesale NFL Jerseys, and Malaysia.“It is geared to fulfill the expectations of the thousands of persons, who would pass through the Expo. It would highlight both investment and building opportunities available for the general public– not only in the building and construction sector but home furnishings,” he added.Guyana’s financial sector has been aiding the housing boom with the provision of loans for potential homeowners. Republic Bank Limited and the New Building Society, two sponsors of this year’s event, have been partnering with the Housing Ministry to erect houses.The New Building Society (NBS) has been partnering with the Ministry in financing the construction of the $4.9M turn-key homes. Besides, this collaboration the Society has reduced its interest rates across the board.According to Noel Fernandez of NBS, the Society would be showcasing its products and services to consumers. He said that NBS is offering low interest rates. For instance, a $4M loan would attract 4.25 percent interest and that translates to $19,880 monthly.Consumers accessing loans from $4M to $10M would attract 6.15 percent interest rate and make repayments less than $70,000 monthly. Meanwhile, those accessing $10M to $12M loans would have to make repayments of less than $80,000 monthly.According to Ali, Republic Bank Limited is the Ministry’s sole partner in the Professional Group Building Development. The bank has developed a special package for the professional group for persons to qualify for house lots and houses, he said.The Minister said that the bank has helped the Ministry to complete the first phase of the project with the construction of 55 houses. The bank is fully onboard and ready for the further expansion of this initiative.He said that over the past few weeks the Ministry has been experiencing a “mad rush” with persons seeking to transfer their house lots for turn-key homes or the professional group homes. Ali stated that there are different levels of professional houses being developed to meet the pockets of the young professionals. The Ministry recently introduced a third level of houses which cost between $18 and $19M for those professionals who earn between $400,000 and $500,000.The beneficial partnership between Republic Bank Limited and the Ministry was further emphasized by the bank’s Marketing and Communication Manager,Jerseys NFL Wholesale, Michelle Johnson. Being part of Building Expo from its conception has helped to expand the portfolio of the bank.According to Johnson, at last year’s event 30 mortgages valuing over $100M were initiated in Republic Bank Limited’s booth. In addition, more than 200 contacts were created that led to the processing of loans resulting in the construction and renovation of homes.The entity is looking forward to sharing its competitive rates with patrons and providing them with the opportunity to receive prizes.After the construction of a person’s dream house the next step is furnishing. The other corporate sponsor for this year is Courts.According to the Minister, the Ministry is trying to work out an arrangement with Courts to have different layers of furnishings available to the Guyanese public. This approach is aimed at making homeowner and family developments easier.“We are moving from the allocation of the land,NFL Jerseys From China, provision of the homes and now going into furnishing. We ensure we use the old economic model of economies of scale and demand and supply to bring the cost down and make it more affordable to the general public,” he said.According to Molly Hassan, Courts’ Marketing Manager, Courts has been participating in the International Building Exposition since its conception four years ago. This event is an extension of the Ministry’s One Stop Shop events across the country, which the furniture giant has been part of. She related that Courts would use the expo to showcase that it is the market leader.This year a new private land developer, Sunshine Villas, has come onboard as sponsor.Ali said that the Ministry has been observing a dynamic shift of the private sector focus on the development of gated high-end communities. This is born from the growing middle and upper classes.According to Mohamed, Managing Director of Sunshine Villas, the company is focusing on developing a well landscaped community with proper drainage and hybrid street lights. However, Sunshine Villas is just a land development project rather than one for housing development.Already,Cheap NFL Jerseys China, four lots have been sold to persons wanting to re-migrate. |
