Gov’t on Course to Delivering 70,000 Housing Solutions

• The Government is well on the way to providing the committed 70,000 solutions to the housing market. The objective is to address a housing deficit of approximately 100,000 units in the country.
• Prime Minister, the Most Hon. Andrew Holness, said that the National Housing Trust (NHT) has pledged to deliver 43,000 of the 70,000 solutions and 35,000 of these are at different stages of development.
• “This means that they have [units] in the ground, they have come out of the ground, they have completed or they have plans they have drafted, they have identified the lands or they have identified the developers to build those houses,” he said.
• Holness provided the details while delivering the keynote address at a launch ceremony for Up-Cycled Container Homes being introduced to the market by Kingston Logistics Center (KLC) Limited on Wednesday (April 19).
• He pointed out that informal settlements and communities in need of housing upgrades will need “easily deployed solutions in the housing market”. It is against the background that Prime Minister Holness has welcomed the introduction of container homes to the local housing market. Further, the pre-built units can be constructed in a shorter time at affordable rates relative to traditional houses.
• “The size of the container home market in 2021 was estimated at $56.85 billion worldwide and it is expected to grow to $87.1 billion by 2029. We see how this is possible because companies that are involved in shipping, architecture, furniture, design and development, are merging the technology to provide solutions to meet housing demand,” Mr. Holness pointed out.
• KLC is an all-inclusive logistics facility with operations in Jamaica and Panama. The company provides logistics solutions across the Caribbean, including warehousing, distribution, packaging, shipping and exporting of consumer goods.

(Source: JIS)