The National Housing Trust (NHT) will be providing 85 per cent financing for two housing projects in St Mary and St Andrew, which are being spearheaded by the Housing Agency of Jamaica (HAJ).
One of the projects, located in Boscobel, St Mary, comprises 270 service lots, and two bedroom housing units.
A J$802-million contract is to be awarded to NF Barnes Construction and Equipment Company Limited for infrastructure work once Cabinet signs off on the contract.
Joseph Shoucair, managing director of the HAJ, said the construction of the houses begins in February, and will last 15 months. The houses will go on the market for about J$7.5 million, he said.
"We think this a competitive price," he said. "The demand is robust in that area," he said, pointing out that it is the largest such development being undertaken in that parish.
The NHT will also give 85 per cent financing to a J$435-million housing project at Stadium Gardens in St Andrew.
The Contracts Commission has already endorsed a J$349-million contract to be issued to Alcar Construction and Haulage Company Limited for infrastructure work on the project. The project is a 50 two-bedroom townhouse development and is called Stadium Gardens Phase 3.
Shoucair said the recommendation has been sent to Cabinet for approval, and construction should begin in February with completion 12 months later.
The town units are to be sold for between J$9.6 million and J$10.2 million.