NHT to deliver 29,000 units for J$129b

National Housing Trust (NHT) will invest J$129 billion to put 28,880 housing solutions on the market over the next four years, the agency's managing director, Cecile Watson, said Wednesday.

To meet that target, Watson said NHT has revised its capital expenditure budget upwards by 72 per cent, from J$75 billion.

For the current fiscal year, the agency is spending J$28 billion, and that about half the housing solutions - typically houses and lots - would be targeted at NHT contributors in the two lowest income-earning bands: ranging from the minimum wage of J$4,070 per week to J$10,000 per week.

"We will be seeking to do this, while reducing the real cost of solutions by 10 per cent. We believe that this is achievable, so we anticipate a significant uptake in construction activities, which is very important as a key driver of economic growth for this nation," said Watson at a roundtable discussion in Kingston organised by the Trust.

Watson said the NHT's ability to deliver would be contingent on the effectiveness and efficiency of its outputs.

"We need to eliminate waste of time and of money. We need to strive to be more efficient and more effective in the work that we do, and to make sure that it counts for something," she said.

"We need to make every dollar count, to create value. Indeed, it means that it is not business as usual."