NHT Plans to Invest $57.7Bn on Housing Solutions

• The National Housing Trust (NHT) plans to invest $57.7Bn to facilitate the commencement of 8,513 housing solutions and the completion of 7,043 units by March 31, 2022.
• The NHT’s plans include the commencement of construction on units in Albion, St. Thomas and Point, Hanover under the Guaranteed Purchase Programme, as well as solutions at Mount Nelson, Manchester; Fontabelle, Westmoreland; and Rasta City, Kingston.
• The planned level of capital expenditure includes the disbursement of 12,083 mortgage loans under different programs, including build on own land, open market, construction, joint mortgage finance, and house lot loans.
• Meanwhile, the NHT will continue to provide special subsidies and grants amounting to $1.6Bn. This allocation will include provision for community renewal projects and mortgage subsidies aimed at increasing access to benefits by contributors in the lower-income bands.
• This project will help to improve the standard of living for many citizens in the future. In the short-term, it should also support economic recovery in the construction sector which declined by an estimated 0.8% in 2020.

(Source: JIS & NCBCM Research)