News

The National Housing Development Trust (NHDT or “the Trust”) is introducing a series of new initiatives to support Caymanians in today’s challenging housing market by increasing the supply of affordable homes, expanding the Home Repairs programme, and reintroducing a Lease to Own programme.

To help address the current housing crisis, the Cayman Islands Government allocated $15 million to the NHDT in the 2024-2025 budget.

As a government-owned entity, the NHDT’s remit is to provide affordable housing, mortgage financing and other services to assist low-to-middle income Caymanians.

“The National Housing Development Trust has to keep evolving in order to meet the needs of our community,” said Andrew McBean, Chairman of the Board.

“With the current shortage of affordable housing, it is imperative that the Trust innovate and adopt a more sustainable approach in the way we design and build homes, ensuring that we achieve the most efficient use of land and deliver the greatest value for money,” Mr McBean added.

To help with this transition, and following the resignation of general manager Julio Ramos last month, the NHDT has engaged the services of Deloitte, who have also been requested to look at various operations within the Ministry of Planning, Agriculture, Housing and Infrastructure (PAHI), to modernise operational frameworks and put in place new procedures that will allow the organisation to scale up operations while the Board recruits for a new general manager.

“I’d like to take this opportunity to thank Mr Ramos for his knowledge and technical assistance over the past year during which we started the process of innovating and evolving, for his ongoing assistance with the current transition projected up to the end of his term later this month and for his dedicated service over the past 14 years,” said Mr McBean. “His legacy is a loyal and dedicated team of staff members, committed to helping to deliver on our plans for the future.”

Mr Ramos said, “After careful thought and consideration and providing approximately 14 years to the National Housing Development Trust (NHDT), I have decided to move on to pursue other personal aspirations. This was a difficult decision to make as I cherish my time at the NHDT and have enjoyed my working relationship with the Operations Team, the various Boards over the years, and the Cayman Islands Government. I am appreciative of the opportunities provided to me at the NHDT as I was able to grow professionally and was allowed to contribute to various programmes of the Trust that provide housing opportunities to our people. I understand that this notice may have come as a surprise to some, however, rest assured that I have been assisting with the required transition exercise for the continued efficiency and delivery of service to the deserving Caymanians who require housing assistance and opportunities.”

The NHDT’s immediate priority is to accelerate the construction of new, for-sale homes as well as to reintroduce a Lease to Own programme which makes a portion of NHDT homes available to Caymanians who may not qualify with any local lending institutions. The Trust’s aim is for Lease to Own programme participants to own their homes outright after a period of five years.

The NHDT is also expanding its Home Repairs service to include houses not built by the Trust. In partnership with the Ministry of Social Development, the programme allows homeowners who might not otherwise afford necessary repairs to maintain a dry, safe and livable environment.

For more information about the National Housing Development Trust’s services and past projects, visit the website at https://www.nhdt.gov.ky