Nevis Government buys private land for affordable housing project

 





The Nevis Island Administration has purchased around 36 acres of land at Garners Estate, St. James Parish, at a cost of EC$3.6 million. The Government acquired the land, costing in millions with the aim of providing affordable, "high-quality housing" for the citizens of Nevis.

This purchase is aimed at addressing growing demand for housing on the island nation which the GON now exceeds all the availability of government-owned lands to construct homes.

The land will be sub-divided into residential lots and made them available for sale to potential homeowners.

The Nevis Island Administration has to date constructed around 329 homes with an investment of $71.8 million.

The government has promised to subsidise the overall cost of construction.

Premier Brantley has  mentioned about making provisions, aiming to allow individuals to secure funding from commercial lending institutions to purchase land and construct homes using private contractors.

Source writeups24,com

Photo: stkittsandnevisobserver

Comments

Post a Comment

Popular posts from this blog

Suspension of Trading in Edufocal Limited’s Ordinary Shares

Image
  The Jamaica Stock Exchange (JSE) in keeping with the Junior Market Rule Appendix 2, Part 4 (2) (e) on Audited Annual Financial Statements has suspended trading in the ordinary shares of Edufocal Limited (LEARN) pending the submission of its 2024 Audited Financial Statements. The Company’s 2024 Audited Financial Statements, due on March 1, 2025, became ninety-three (93) days overdue on June 2, 2025. Gordon Swaby, CEO for Edufocal Limited reported in February 2025  that 2024 was a year of significant challenges, as the company continued to navigate a difficult operating environment characterized by declines in revenue and profitability. Listed in 2022, the company offers e-learning services. EduFocal since listing has incorporated new subsidiaries — EduFocal Africa Inc in the USA and Edufocal Nigeria Limited — and also formed a strategic partnership with Design Privacy Limited to deliver data protection e-learning content. The company in 2024 focused on restructuring...
Read more

Seprod to expand dairy footprint, establishes new distribution hub in Guyana

Image
  Seprod Limited indicates that investment made in the company’s dairy segment is expected to result in a greater ability to scale production and increase distribution. Chairman PB Scott stated in the company’s new annual report the   Dairy pillar which consists of a dairy processing plant and   farms in St. Thomas, Jamaica are currently   leaders in the region in production of milk, flavoured milk drinks, condensed milk, evaporated milk, ice cream mixes and juices. The processing facility in Bog Walk received major investment in the form of new lines to facilitate increased production of milk and juices, and new packaging formats. The Chairman said, “At time of writing, this project is being completed and we expect increased production in the second half of 2025 as a result of these initiatives.” Seprod   further extended its distribution platform in 2024, which is its greatest source of revenue. During the year, the group acquired 80 per cent of Caribb...
Read more

Belnavis to lead regional banking operations for Proven, Group reveals 60-day plan to restructure wealth management arm

Image
  Proven Bank on December 30, 2024, announced via the Jamaica Stock Exchange that the Proven Group has appointed Stacy Belnavis as the new President and Chief Executive Officer (CEO). Belnavis will lead Banking operations in the Cayman Islands and Saint Lucia, driving Proven Group’s “strategic vision for growth and transformation in the Caribbean,” the group announcement stated. The group will also consolidate its wealth management activities, announcing at the same time  that, "In keeping with the Group’s strategic focus to enhance operational efficiency and drive profitability, we have taken the strategic decision to optimize our Wealth Management operations across the region. "Firstly, we intend to consolidate the wealth management business in Cayman (including financial advisory) into PROVEN Bank (Cayman) Limited, subject to regulatory approval. Additionally, we have taken the decision to exit our small financial advisory businesses in Bermuda and the British Virgin Isl...
Read more