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NHT to Spend $22.4 Billion on Housing and Mortgage Financing

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The National Housing Trust (NHT) will be disbursing over $22.4 billion on construction and mortgage financing activities for the financial year 2014/15.

This was disclosed by Minister with responsibility for Housing, Hon. Dr. Morais Guy, during his contribution to the 2014/15 Sectoral Debate in the House of Representatives on Wednesday, June 4.

He also informed that the NHT plans to complete some 2,160 housing solutions during this fiscal year.

The Trust continues to be the largest investor in Jamaica’s housing sector with expenditure on housing construction and mortgage financing of some $22 billion during the 2013/14 fiscal year.

“As a result, over 7,500 mortgage loans were provided to teachers, members of the security forces, domestic helpers, labourers and a host of other contributors. A further $1.6 billion was allocated to fund private developments under its Interim Finance Programme,” Dr. Guy outlined.

Some of these developments include : Jacaranda and Heathfield in St. Catherine; Holland Estate and Stonybrook Vista in Trelawny; and Kings Manor in St. Andrew.

By Latonya Linton

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