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JIS News

The National Housing Trust’s (NHT) expenditure for the 2005/06 fiscal period amounted to some $7.7 billion or 74 per cent of the budgeted amount This amount represents an increase of approximately $2 billion over the previous year.
As set out in the NHT’s annual report for the period, which was tabled in the House of Representatives recently, housing completions totalled 2,225 solutions, comprising 1,204 build-on-own land and home improvement, 346 interim financed solutions, and 695 solutions in NHT developed schemes.
Under the Interim Finance Programme, three schemes were taken over. These included Duncans Hill in Trelawny, Morris Park in St. Catherine, and Winchester Meadows in Hanover. Meanwhile, new schemes were developed in Bernard Lodge, St. Catherine, and Green Pond Phase II in St. James.
“The organisation remains committed to contributing to national development by improving the quality of life of residents in inner-city communities,” the report informs. To date, construction has been completed on sites at Little King Street (94 units) in Denham Town; 252 units in Trench Town; 48 units in Monaltrie; and 186 units at 88-100 Spanish Town Road.
“Along with developing affordable solutions, the NHT continues to assist Jamaicans in realising their dream of home ownership by providing 7,149 mortgages for the financial year. Whilst the open market loan type continues to record the highest number of mortgages provided yearly, 2005/2006 saw increases in the number of mortgages provided for build-on-own land, and home improvement loans,” the document outlines.