Housing Association to be Restructured

Minister without Portfolio in the Ministry of Economic Growth and Job Creation, Dr. Horace Chang, says the Housing Agency of Jamaica (HAJ) is to be restructured.

He made the announcement while addressing the launch of the Vistas housing development in Runaway Bay, St. Ann on Sunday.

Dr. Chang says the restructuring exercise is aimed at getting the HAJ to return to being a financially viable entity.

He says the move is also aimed at wiping out any possibility for corruption and nepotism at the agency as well as encourage public-private partnerships in housing projects.

Dr. Chang outlined that the HAJ suffered financial losses of over $2.9-billion in two years and is projected to lose $900-million this year.

That’s coming from a profit of $350-million in 2011.

The Housing Agency of Jamaica provides shelter solutions for Jamaicans islandwide.

It was formed in 1998 through the merger of three entities Caribbean Housing Finance Corporation Limited CHFC, National Housing Corporation Limited, NHC, and Operation PRIDE.