NHT Set To Rake In $20 Billion Surplus

Jamaica’s National Housing Trust (NHT) is projected to achieve a $20 billion surplus during the 2020/2021 fiscal year.

The public bodies report tabled recently by Finance Minister Dr. Nigel Clarke noted a $800 million increase over the $19.2 million surplus estimated for the current financial year.

The NHT’s total income for the next fiscal year is expected to be in the region of $34.1 billion up from $33.3 billion this year.

Meanwhile, according to the public bodies report, the NHT will deliver 20,000 housing solutions, comprising a mix of residential lots and houses by March 2023.

The entity has projected total housing expenditure of $41.1 billion to complete 6,000 housing units, facilitate 9,347 new loans for scheme units, joint finance mortgages as well as open market purchases.

The funds will also be used to continue the guaranteed purchase program to deliver new housing solutions from private developers.

Yvad Billings, Readers Bureau, Fellow

Edited by Jesus Chan

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