NHT eyes 26,500 new houses in medium term
Published:Saturday | February 20, 2021 | 12:12 AM
The National Housing Trust (NHT) says it will be spending $57.7 billion by March 31, 2022 to begin work on 8,513 housing solutions and to complete another 7,043 units.
Outlining its plans in the Jamaica Public Bodies Estimates of Revenue and Expenditure, which was tabled in Parliament on Thursday, the housing entity says its medium-term programme consists of plans to commence construction of 26,500 new housing solutions. The NHT says it plans to deliver 22, 800 solutions, comprising a mix of houses and residential lots by March 31, 2024.
The trust’s plan includes construction of units at Albion in St Thomas and Point in Hanover under the guaranteed-purchase programme. It also plans to start work on solutions at Mount Nelson in Manchester, Fontabelle in Westmoreland, and Rasta City in Kingston.
Additionally, the NHT says it will be completing solutions at Colbeck Castle Phases One and Two in St Catherine, Friendship Phase One in St Elizabeth, and Ruthven Road Phase One in St Andrew.
The income statement of the NHT is projecting a net profit of $2.9 billion for the housing agency in fiscal year 2021-22. For the 2020-21 financial year, the trust recorded a net profit of $1.7 billion. In the previous fiscal year of 2019-20, the entity had a net profit of $16.5 billion.