Mandeville Weekly News

NHT ON AMBITIOUS HOUSING DRIVE

Posted by SR (riley) on Mar 29 2017 at 5:26 PM
Mandeville Weekly News >>

Chairman of the National Housing Trust (NHT), Ambassador Dr. Nigel Clarke, says the entity has embarked on an ambitious and aggressive drive to assist persons in realising their dreams of owning their own home.During 2017/18, the entity will commence construction of almost 6,000 housing solutions across Jamaica and provide loans for mortgages at a cost of $28.6 billion.

Approximately 1,700 solutions will be completed during the year.  It is estimated that these projects will generate employment for 3,800 persons. For the new financial year, the NHT plans to write approximately 8,000 new loans at a value of $17.5 billion.Ambassador Clarke said that  the agency is cognisant that one of the most urgent needs of the Jamaican populace is for affordable housing solutions, while speaking on at the breaking of ground for the development of 61 serviced lots by the NHT in Shrewsbury, Westmoreland, at a cost of $119 million.

Ambassador Clarke informed that the solutions are targeted at people who have worked in the sugar industry.  “What we are doing is for them, for the most part.  We feel we have an obligation to the thousands of sugar workers to realise their dreams of purchasing their own home,” he said. The NHT Chairman pointed out that depending on their income, persons can borrow 100 per cent of the cost of financing the building of their house on the lots.  “What that means is that not only can the average contributor access money to buy land from the NHT, it also means that they can borrow money to construct right away and build their house,” he said.

Meanwhile, Ambassador Clarke informed that an additional 1,500 housing solutions are to come on stream in Westmoreland, adding that the NHT’s research indicates that there is a high demand for housing solutions in Westmoreland, particularly among people who came to the parish for opportunities in tourism and farming.

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