HAJ to Provide More Affordable Housing Solutions
By: , April 10, 2019The Key Point:
The Facts
- As stated in the 2019/20 Public Bodies Estimates of Revenue and Expenditure, the entity is projecting to deliver some 1,460 solutions this fiscal year, up from 309 in 2018/19. These comprise serviced lots, housing starts and/or completed houses.
- In addition, construction is scheduled to commence on 2,058, housing starts, up from 1,477 in the previous financial period.
The Full Story
The Housing Agency of Jamaica (HAJ) will be increasing the number of affordable housing solutions provided to low- and middle-income earners.
As stated in the 2019/20 Public Bodies Estimates of Revenue and Expenditure, the entity is projecting to deliver some 1,460 solutions this fiscal year, up from 309 in 2018/19. These comprise serviced lots, housing starts and/or completed houses.
In addition, construction is scheduled to commence on 2,058, housing starts, up from 1,477 in the previous financial period.
The HAJ will also embark on three joint-venture projects in Rhyne Park, St. James; and Shooters Hill and Bernard Lodge, St. Catherine.
Other programmed activities for 2019/20 include engagement and lobbying of key agencies to accelerate the distribution of titles in an effort to regularise informal settlements, and capitalising on loans, grants and value-added opportunities.
The HAJ will also be seeking to strengthen technical capacity and stabilise its financial position by reducing debt, increasing liquidity and improving profitability.
The agency projects a net profit of approximately $462.5 million in 2019/20, up from $185.16 million in 2018/19.