Monday 9 December, 2019

HDC, NH International to build 160 homes over three-year period

NH International (Caribbean) Ltd Managing Director, John Connon, signs contract with HDC. Seated next to him is HDC Chairman Newman George. 
Standing (from left) are Dianne Piper-Sandy, Corporate Secretary of NH International (Caribbean) Ltd; Jason Reyes, Chief Accountant of NH International (Caribbean) Limited; Housing and Urban Development Minister Randall Mitchell; HDC Managing Director Brent Lyons; Kimberly Molligan, HDC Divisional Manager, Legal (Ag.) and Kenisha Lightbourne, HDC Corporate Secretary.

NH International (Caribbean) Ltd Managing Director, John Connon, signs contract with HDC. Seated next to him is HDC Chairman Newman George. Standing (from left) are Dianne Piper-Sandy, Corporate Secretary of NH International (Caribbean) Ltd; Jason Reyes, Chief Accountant of NH International (Caribbean) Limited; Housing and Urban Development Minister Randall Mitchell; HDC Managing Director Brent Lyons; Kimberly Molligan, HDC Divisional Manager, Legal (Ag.) and Kenisha Lightbourne, HDC Corporate Secretary.

The Housing Development Corporation has joined forces with NH International (Caribbean) Limited for the construction of 120 three-bedroom apartments and 40 two-bedroom apartments.

The homes are to be constructed in Mount Hope over a three year period at a cost of $192,040,419.20 VAT inclusive and inclusive of all financing costs.

This was confirmed via a statement issued on Friday by the Ministry of Housing and Urban Development.

According to the release, HDC and NH International both signed the contractual agreement as a form of public-private partnership whereby, NH International has obtained its own financing to fund the cost of the design and construction of the project.

The Ministry said the finalised contract came at the end of extensive and lengthy negotiations which led to both parties arriving at the most cost-effective and efficient delivery of housing units to the HDC for prospective middle-income families along the east-west corridor.

 

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