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Housing still high on government’s agenda

housingGovernment will continue to invest in the construction of houses in the coming years.

Next year, 166 units are expected to be built though the capital budget. These include 40 units on Perseverance, including 36 units in Ex Dominic Savio, as well as other regional projects that will be implemented at Les Mamelles, Anse Des Genets, Ex Kashugy estate, Marie Jeanne Estate and Mont Plaisir.

In addition, there are 66 units that are being financed under the ‘self financing’ scheme that will be constructed next year.

The Minister for Finance, Trade and the Blue Economy Jean-Paul Adam said this

when delivering his Budget Address 2016 to the National Assembly last week.

Minister Adam however noted that in view of the fact that access to affordable housing in the private sector remains a challenge, government needs to pursue certain innovative projects to accelerate the implementation of its vision that each young Seychellois can gradually own his or her own home.

He said already the ‘Home Savings Scheme’ (HSS) is proving to be a success and is the basis for future solutions.

“Anyone contributing towards this scheme is investing towards their future since it is through this scheme that government will then be able to deliver on the houses that are needed,” Minister Adam said.

“We also need to ensure that we have the means to meet the needs of those searching for accommodation – whether it be the person on minimum wage, or the person who although might be receiving a reasonable salary, might not be able afford a house or an accommodation in the private sector,” the minister added.

He said government will therefore be venturing into Public Private Partnerships (PPP) to ensure that anyone that contributes towards HSS is assisted in a reasonable time frame.

In relation to graduates and young professionals, Minister Adam said government will continue with its condominium projects on Perseverance Island in 2016 through a pilot PPP project, with the first phase to be completed during the first quarter of 2017. A total of 150 units will be constructed.

Government will also start its second phase of the Chateau Vallon condominium project with 48 units though PPP as well. Under this model, a private investor will develop the project while government will provide the framework that will determine the repayment mechanism for the beneficiaries.

Minister Adam also said that government will assess the housing estates that it has built in the past and where necessary redevelop these estates with the support of the residents to ensure that their housing needs are being met.

“It is therefore important to ensure that as we invest in new projects we also re- invest where necessary and provide a framework so that the residents can also re-invest in their homes for their benefits and that of their children,” said the minister.

Source : Seychelles NATION

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