NHT to Spend $23.6 Billion this Year
By: , May 13, 2016The Key Point:
The Facts
- He informed that 9,000 solutions will be completed this year, under the NHT’s medium-term housing programme.
- 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...
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Minister of Finance and the Public Service, Hon. Audley Shaw, says the National Housing Trust (NHT) is expected to spend $23.6 billion on housing and other capital expenditure this year.
He said the Trust 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 on Thursday (May 12), under the theme: ‘Partnership for Economic Growth’.
He informed 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 informed 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 (BPO) facilities in Montego Bay and Portmore.