NHT to spend $24b on housing this year
THE National Housing Trust (NHT) is expected to spend $23.6 billion on housing and other capital expenditure this year.
Making the announcement in Parliament on Thursday, Minister of Finance and the Public Service Audley Shaw said the NHT will provide a mix of houses and residential lots in 42 developments across 11 parishes, and is projecting to write new mortgages totalling approximately $16 billion.
The finance minister was delivering the opening budget presentation in the House of Representatives under the theme ‘Partnership for Economic Growth’.
He said that 9,000 solutions will be completed this year, under the NHT’s medium-term housing programme.
The programme aims to boost the housing stock through a mix of NHT-directed schemes and joint-financing projects with private developers.
Meanwhile, Minister Shaw said that the Port Authority of Jamaica is to spend $10 billion on development projects.
Among the projects are: the upgrading of the Ocho Rios Cruise Terminal, and Reynolds Pier in St Ann, and the Montego Bay Port — at a cost of approximately $5.3 billion; and $1.9 million to finance the construction of two new business processing outsourcing facilities in Montego Bay and Portmore.
