On Wednesday, July 1, though socially distant, a sense of accomplishment connected some 50 National Housing Trust, NHT contributors who received the keys to their new homes. These 50 new homeowners who represented a total of 200 beneficiaries, shared in a handing over ceremony at the newly developed SilverSun Estate community of St. Catherine.
In delivering his keynote address, Prime Minister, The Most Hon. Andrew Holness noted that his administration was committed to creating more opportunities for Jamaicans to experience the pride of homeownership in communities that were safe, secure and comfortable.
While congratulating the new homeowners, he also lauded developers West Indies Home Contractors Limited, WIHCON for their continued partnership and commitment to supporting the Government's vision of transforming the lives of Jamaicans through homeownership. Acknowledging the adverse impact of the coronavirus pandemic on all sectors of the Jamaican economy, he urged private developers to mobilise their resources to invest in the housing industry.
"The private sector, you have projects you may be considering shelving, now is not the time for it. Recessions are self-fulfilling prophecies; they happen if you decide that you are not going to invest; they won't happen if you decide to invest, so let us not allow the recession to happen."
NHT Chairman, Lennox Channer highlighted the NHT's commitment to meeting the shelter needs of its contributors through the continuous revisions of its policies and financing arrangements.
"Our interest rates have traditionally been the lowest in the market in keeping with the trend of declining interest rates, we lowered them even further in April of this year. Our interest rates now range from as low as 0% to as high as 4%; the lowest in the market. New homeowners here at SilverSun Estate, benefitted from our 100% financing for NHT schemes policy" Mr Channer said.
The two hundred (200) housing units form part of the 1,200 detached and duplex two-bedroom units to be constructed through developers WIHCON under the Guaranteed Purchase Programme (GPP). Under the programme, developers conceptualize and execute their development plans, while the NHT absorbs the market risk by purchasing part or all of the development. This approach seeks to leverage the efficiencies within the private sector so that units can be delivered at lower costs, within faster timeframes and with the private partner assuming most of the implementation risks.
Upon completion, residents at SilverSun will enjoy amenities such as a playing field, multi-purpose court, swimming pool, clubhouse & parking, commercial spaces, perimeter fence and guardhouse.
About the National Housing Trust
The National Housing Trust (NHT) was established in 1976 We are entrusted with the mission of increasing and enhancing the stock of available housing in Jamaica as well as providing financial assistance to the most needy of our Contributors who wish to build, to buy or to repair their homes.
The NHT also has a mandate to generate funding for the housing construction sector and to promote improved building systems and greater efficiency within the industry. We are a statutory body, primarily funded by deductions from Employers and the Self-Employed as well as from Employees and Voluntary Contributors. Our Contributors, business partners, directors and staff have all played a vital role in the unfolding of the NHT History,
Contact: Corporate Communication and Marketing Department
(876)929-6500