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In a strategic thrust to increase the number of houses available to contributors, the National Housing Trust (NHT) is looking to carry out an employer-assisted housing programme. This housing programme supports the Jamaican government’s aim to build 23,000 housing units by 2021.
This timeframe is months away.
Employers asked to Provide Land for Staff Housing
The employer-assisted programme strategy is to enter into an agreement with entities with extra land to construct houses on those lands. The National Housing Trust is specifically targetting large companies, particularly those with lands they can make available.
Similarly, the NHT is also in discussions with local associations like the Jamaica Teacher’s Association (JTA) and the Nurses Association of Jamaica (NAJ). These associations have, over the years benefitted from land received as part of wage settlements for their members. According to Dwayne Berbic, Corporate and Public Affairs Manager, the Trust wants local associations to also provide the land for use in housing.
It’s a Win-Win for National Housing Trust and Employers
Also, the arrangement will be a win-win in many ways. The NHT is collaborating with developers to construct more houses at a faster rate. It does so by purchasing the houses that developers built then selling them to its contributors. In this guaranteed purchase arrangement, the NHT buys the units after developers completed their construction.
Since the NHT launched that programme in 2018, it approved four developments consisting of 2,143 housing units. These units are expected to reach the market quickly. Then, the NHT would provide 100 percent financing to eligible contributors. This arrangement, for the NHT, is unlike selling units on the open market at less than full financing. Similarly, NHT expects to execute projects under the employer assisted programme that it is seeking to firm up with employers.
NHT’s arrangement with employers will provide another way for beneficiaries to access their own home.