NHT Approves Projects Under GPP

Jamaica News: The National Housing Trust (NHT) has approved four projects, comprising 2,143 homes, under its Guaranteed Purchase Programme (GPP), since its launch in November 2018.

Prime Minister, the Most Hon. Andrew Holness, says the projects include 2,050 one- and two-bedroom units in St. Catherine, another 41 in Westmoreland, and 52 two-bedroom houses in St. Elizabeth.

“Construction is expected to commence during this quarter, with some solutions coming to the market by 2020,” Mr. Holness indicated.

The Prime Minister was making his contribution to the 2019/20 Budget Debate in the House of Representatives, on Tuesday (March 19).

Under the GPP, developers will be allowed to conceptualise and execute development plans in designated areas at the approved prices.

The NHT will purchase all or an agreed number of units, thereby relieving the developers of the associated market risk.

NHT to Improve Service Delivery

Mr. Holness, who advised that the NHT is currently in discussions with 18 developers involved in the programme, said the number of solutions in each project under evaluation for purchase range from 10 to 750.

He indicated that the programme has been “well received” as an important component in “energising” development within the lower income segment of the housing market.

In this regard, the Prime Minister said the NHT, for which he has portfolio responsibility, continues to have dialogue with several other developers showing an interest in the programme.

Meanwhile, Mr. Holness advised that the programme, which enables public-sector workers who are eligible mortgagers to access their NHT cash refunds, has been extended to 2021.

“Additionally, mortgagers who are public-sector workers can now access their second NHT loan sooner. The time was reduced from 15 to 10 years, in 2008,” he said.

 

Source: JIS News

Please send us your Feedback, News Item, Photos and/or Videos to our WhatsApp Number 1-876-353-1389 or Email [email protected]

GO AHEAD! JOIN THE CONVERSATION

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recently Published

Aaliyah: St. James High School Student Missing

Aaliyah: St. James High School Student Missing

ANOTHER MISSING CHILD!!! Aaliyah also known as Apple, did not return from school yesterday. She’s from Irwin, St. James and attends St. James High School. Anybody with information is asked to call the nearest police station or 119. Bring her home safe Lord please we can’t take any more sad news every one share maybe […]

VybzKartel-768x461

Dancehall Fans React To New Vybz Kartel Photos

Concerns about Dancehall entertainer Vybz Kartel’s health were reignited on Wednesday after new photos surfaced online. The self-proclaimed ‘Worl Boss’ got another family visit day behind bars and took a few photos with close friends and relatives Several of the images are now floating around on social media and Dancehall/Gaza nation fans believe the “Any […]

MoBay-Bridge-to-be-Repaired-pic2-670x450

Mobay Bridge to be Repaired

Jamaica News: The National Works Agency (NWA) has advised that the bridge located at the eastern end of Howard Cooke Boulevard in Montego Bay, St. James, is to be repaired. Community Relations Officer at the NWA’s Western Office, Janel Ricketts, told JIS News that a particular section of the structure, involving the expansion joints, has […]

MSME-5-670x450

Land Bank Being Developed

Jamaica News: Minister of Industry, Commerce, Agriculture and Fisheries, Hon. Audley Shaw, says a land bank is being developed, geared at pinpointing properties across Jamaica that are suitable for agriculture, but are not being used. Speaking at the opening ceremony for the Small Business Association of Jamaica’s (SBAJ) second regional Micro, Small and Medium-sized Enterprise […]

DJ Mango and DAngel
DSC7651-670x450

New Member of Parliament Sworn in

Jamaica News: Newly elected Member of Parliament (MP) for East Portland, Ann Marie Vaz, was sworn in today (April 16), during the sitting of the House of Representatives. After taking the Oath of Office, the MP was welcomed by Prime Minister, the Most Hon. Andrew Holness, as well as other Members of Parliament on both […]

Scroll to Top