WITH more than $250M being invested by the private sector over the course of three days in July, Housing and Water Minister Irfaan Ali last evening officially launched the fourth annual Building Exposition, to he held under the theme: “Consolidating Partnerships for Sustainable Development”.

Housing Minister Irfaan Ali addresses the Building Expo launch at the Princess Hotel last evening

Minister Ali was joined by scores of builders, developers and local entrepreneurs at the launching ceremony at the Princess International Hotel, where he challenged those present to seize the opportunities available locally to stakeholders in their bid to sustainably develop Guyana.

The minister, providing insight into the organising and motivation behind the expo for this year, indicated that initially, the ministry had opted to not have one this year, but this changed as a result of demands by the private sector.

Ali lauded the calls made by private sector representatives to build on partnerships and to have greater innovation in moving the construction sector to greater heights.
In speaking to the focus of this year’s exposition, to be held from July 5 to 7 at the Guyana National Stadium, Ali said that in speaking to sustainable development of Guyana, this would mean having a futuristic outlook.

As such, the minister announced the latest venture by the ministry, namely the establishment of ‘Silica City’
According to Minister Ali, the move by the ministry is not only in response to the challenges posed by climatic conditions, but simply because there is no space left along the coast to be developed for housing.

He said that on the East Coast of Demerara, there is no public land left that can be utilised for building of residential areas.
On the East Bank of Demerara, the minister said that there is land left to develop just about 8000 house lots, a move that will be completed by the end of the year.

Those gathered for the expo launch at the Princess Hotel

As such, the minister informed that the Central Housing and Planning Authority of the ministry will be looking to develop “Silica City’ along the Soesdyke/Linden Highway.

Ali announced that for persons willing to move to that corridor, those in possession of an acknowledgment letter for houselots, that processing will be done immediately.

Sustainable development must be futurist not static, and as such Ali disclosed that the ministry was not simply planning for over a five to 10- year period.

“Silica city is our initiative to take industry, commence and residential housing to the highway,” said Ali.

The initial development of the community will see some 500 acres of land being developed along the stretch of the highway.
President of the Guyana Manufacturers Association, Clinton Williams, who also addressed the gathering for the launch of the Building Expo, challenged stakeholders to look to establish greater partnerships and utilise the opportunities that would be presented through the annual building exposition.

According to Williams, GMSA views the building expo “initiative to be one of the main ingredients designed to stimulate economic growth in Guyana.”
He said that the event has gained momentum over the years, to the point where it now attracts regional and international participation and serves as testimony to the contributions that the event is making.

Williams said that the contributions of the construction and real estate sectors have over the years directly supported the consistent growth that Guyana’s economy has experienced.
The GMSA president said, however, that the sector’s performance and contribution could be substantially improved“if we maximise the utilization of all our resources”

Chairman of the Private Sector Commission, Ronald Webster, also lauded the initiative, that is the now annual Building Exposition, as he too weighed in on the contributions that the sector has made to the economy generally over the years.
According to Webster, the sector has grown in its contribution to the Gross Domestic Product of the nation to the point where it ranks just below traditional sectors such as agriculture and mining.

“In all our statements we have been calling for new projects coming on stream especially in light of the falling commodity prices …construction is one of the best ways to stimulate economy.”
The PSC chairman explained to the gathering that the stimulus provided through the contributions of the sector is even more critical, given that it allows the spending to remain in the local economy.

He said too that construction, apart from being an investment to a nation, also provides employment.
Building Expo 2013 will be held at the National Stadium at Providence, and will have exhibits from  suppliers of hardware, electrical suppliers and contractors, construction and engineering companies, sawmillers, lumber dealers, housing developers and real estate agencies, among others.

The event is listed to see participation from regional and international exhibits and will provide investment opportunities along with creating opportunities for greater business networking