NHT wants agreement with construction regulators, targets $46.6 billion in capital spending in new fiscal year

 


The National Housing Trust (NHT) indicates that in the 2025 to 2026 fiscal year it intends to seek early agreement with the authorities which regulate construction in Jamaica in order to increase efficiency and address challenges in its operations.

Such agencies might include the Real Estate Board, municipal authorities, engineering boards, the National Water Commission and other government authorities which sign off on permit needed for construction to go forward.

In its new Public Bodies report, the Trust stated, “The NHT remains committed to delivering affordable, high-quality housing solutions while proactively addressing challenges that impact its development targets.”

It outlined, “The Trust will focus on mitigating risks, improving operational efficiency, and enhancing service delivery while prioritizing the safety and satisfaction of its contributors. Key initiatives and strategies that will be pursued during the 2025/26 financial year include establishing framework agreements with key construction approval agencies.

“This will streamline the approval process for housing developments and reduce delays caused by regulatory processes.”

The NHT also indicates that it will be commencing construction on 8,425 new housing solutions (2024/25: 6,366) and deliver a total of 3,111 solutions (2024/25: 2,754), comprising a mix of residential lots and houses.

Solutions mix

The solutions to be delivered to the market during 2025/26 will be constructed under various NHT programmes, including: NHT projects – 1,417 solutions; the guaranteed purchase programme -2,199 solutions; and from the Developers’ programme- 3,678 solutions.

From the community renewal programme, the NHT is targeting 240 solutions; and 891 solutions through individual loans.

The NHT’s planned capital expenditure includes $46,635.83 million (2024/25: $31,280.46 million) for the commencement and completion of these housing solutions.

The NHT also aims to facilitate processing of 7,046 mortgage loans (2024/25: 6,776).

The Trust says it plans to improve operating efficiency and service delivery through the increased use of technology. The NHT plans to implement four modules of its loan end-to-end solution by March 31, 2026.

Technical progress in this direction, “with improvements to the loan process is expected to facilitate a reduction in wait time for loan application and processing, contactless application process, automated validation of contributors and online application tracking and remote query facility,” the Trust promises

The NHT also aims to improve community safety through refurbishing/construction of four police stations within proximity of its housing schemes at a cost of $168 million.

The NHT will also pursue the upgrading of the infrastructure of some of its older schemes at a cost of $800 million (2024/25: $409.62 million).

The Trust, meanwhile, says it is projecting a surplus of $15,440.72 million (2024/25: $15,561.46 million).

The NHT projects to retain a staff complement of 1,411.



Caribbean Money Daily

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