NHT Undertaking Joint Venture Developments in 2008/09

The National Housing Trust (NHT), will undertake development of some 1,055 housing solutions, through joint venture arrangements, during the current fiscal year.
This forms part of efforts to provide prospective homeowners access to affordable mortgages and terms of agreement for the solutions being provided, as outlined in the NHT’s Annual Report and Financial Statement for 2007/08.
In addition, 482 solutions will be provided under the Interim Financed and Small Contractor’s Building Programme, with the report stating that the agency “will also be expanding our product offering by adding apartments and townhouses to the mix of solutions.” Moreover, cost management and operational efficiencies will also remain areas of focus for the organisation.
The Trust will also be focussing on the implementation of strategies to regain an operating surplus by the end of the 2008/09 financial year.
“We recognise that 2008/09 will be even more challenging than 2007/08. The threat of further increases in construction materials, inflation, and other negative external factors, makes it imperative for the organisation to continue to evolve and seek new ways to remain relevant to our contributors,” the document notes.
“We are convinced that we have a committed management team and support staff that will create greater value for all our customers, and return the organisation to a position of operational surplus,” the document points out, adding that these will be implemented to respond to likely challenges in the coming year.