Jamaica: HAJ to provide more affordable housing solutions

The Housing Agency of Jamaica (HAJ) will be increasing the number of affordable housing solutions provided to low- and middle-income earners.

As stated in the 2019/20 Public Bodies Estimates of Revenue and Expenditure, the entity is projecting to deliver some 1,460 solutions this fiscal year, up from 309 in 2018/19. These comprise serviced lots, housing starts and/or completed houses.

In addition, construction is scheduled to commence on 2,058, housing starts, up from 1,477 in the previous financial period.

The HAJ will also embark on three joint-venture projects in Rhyne Park, St. James; and Shooters Hill and Bernard Lodge, St. Catherine.

Other programmed activities for 2019/20 include engagement and lobbying of key agencies to accelerate the distribution of titles in an effort to regularise informal settlements, and capitalising on loans, grants and value-added opportunities.

The HAJ will also be seeking to strengthen technical capacity and stabilise its financial position by reducing debt, increasing liquidity and improving profitability.

The agency projects a net profit of approximately $462.5 million in 2019/20, up from $185.16 million in 2018/19.