Housing projects for low income earners soon | Sunday Observer

Housing projects for low income earners soon

15 November, 2020

President Gotabaya Rajapaksa has called upon construction industry pioneers to commence work on a large number of housing projects simultaneously for the benefit of low, middle and upper middle income earners covering different areas of the country.    

The President said that work on the projects should proceed fast in a creative and eco-friendly manner using new technology and methods.

President Rajapaksa was addresing made these remarks during a meeting with the officials representing 10 companies engaged in the construction industry at the Presidential Secretariat on Wednesday (11).

The number of houses expected to be built for the middle class in the next three years is 15,000. The government hopes to build 36,884 housing units in four years to meet the demand from both low and upper middle income earners.The first phase of projects will be implemented centering Peliyagoda, Kolonnawa, Bloemendhal, Kottawa - Makumbura, Kottawa - Palaturuwattha, Boralesgamuwa, Malabe, Kandy - Getambe and Anuradhapura cities.

Local entrepreneurs in the construction sector are given the opportunity to join the initiative.

The President said that it is expected to meet the housing demand of a large number of young people from all sectors including the executive and entrepreneur categories. For this purpose, commercial banks will provide loans at concessionary interest rates that can be repaid in 30 years.President said that with the commencement of construction, thousands of employment opportunities will be created by way of supplying materials. President Rajapaksa also emphasised the need to carry out all activities continuously with the fullest commitment in the wake of the Covid-19 pandemic.All worksites must function in compliance with health recommendations. President hoped that these projects would also strengthen the country’s economy.

Secretary to the President P.B. Jayasundera, Secretary to the Ministry of Urban Development and Housing Sirinimal Perera, officials of the Ministry of Urban and Housing Development and officials from several construction companies were also present at the discussion.