Prime Minister Andrew Holness addresses November 9’s ground-breaking ceremony for 248 studio apartments that will be constructed at 10-16 Howard Avenue, St. Andrew South West, under the National Housing Trust’s (NHT) Guaranteed Purchase Programme (GPP). (Photo: Adrian Walker/JIS)
Prime Minister Andrew Holness is urging local housing developers to be apart of the National Housing Trust, NHT’s, Guaranteed Purchase Programme, GPP.
GPP is an initiative through which the NHT agrees to purchase for its contributors all or portions of units in housing developments done by private or public real estate developers.
Holness says more local housing contractors are needed in Jamaica.
Under the programme, the developer accepts all the risks associated with completing the housing solutions.
However, Prime Minister Holness says some developers are skeptical of the initiative.
Holness says his administration has reduced the amount of risks for developers to complete housing projects.
Prime Minister Andrew Holness.
He was speaking at the groundbreaking ceremony of the Howard Apartments in St. Andrew.