NHT – Spent $1.07 Billion for Incorrect Property Acquired from NHDC (Now HAJ)

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Auditor General's Findings

NHT acquired two parcels of land from National Housing Development Corporation [now Housing Agency of Jamaica] for $1.07 Billion at Point, Hanover and Ironshore, Saint James. NHT indicated that the acquisition of the properties was to boost NHDC’s liquidity. However, NHT’s failure to complete the requisite verification resulted in its purchase of the incorrect parcel of land at Ironshore. Both parcels of land were characterized by steep slopes which would result in high development costs.

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Permanent Secretary (current): Audrey Sewell

Breach Category: Resource Management

Permanent Secretary (at breach):

Breach Type: Inadequate Feasibility Assessment Prior to Acquisition

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