JIS News

Minister of Water and Housing, Donald Buchanan has said that the government has made much progress in providing Jamaicans with access to affordable housing solutions.
The Minister, who was speaking at the official launch of the Jamaica National Building Society’s Signature Homes programme in Mandeville on Thursday (Sept. 22), lauded the work of pubic entities such as the National Housing Trust (NHT).
He informed that since its inception in 1976, the Trust has made “phenomenal contribution to housing development, one of its most significant developments been that of Greater Portmore, where the infrastructure is of the highest quality and the cost of the units extremely competitive.” He noted that over the past 15 years, the Trust has issued 70,855 mortgages valued at $41.5 billion.
The Minister further informed of investments of $6.9 billion in 102 projects by the National Housing Development Corporation (NHDC), through its Operation Pride programme.
He noted that so far, 25 of the projects have been completed comprising 5,648 housing solutions, while a further 32 projects comprising 11,575 solutions were slated for completion this fiscal year.
Turning to the work of private entities, Minister Buchanan said that building societies have, over the past 15 years, issued 36,932 mortgages in the sum of $40.4 billion.
He also hailed the Jamaica National Real Estate Company, noting that the entity, which was formed in 1982, had to date completed some nine residential developments, which has so far yielded 472 housing solutions.
Meanwhile, the Housing Minister encouraged entities engaging in housing development to maintain the proper environmental standards.