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Jamaica Mortgage Bank to finance UWI housing project

The Jamaica Mortgage Bank (JMB) is the lead financier for the first phase of  a major housing project on the Mona campus of  the University of  the West Indies.

 Accommodation will be provided for 1, 584 students over the next three years.      

Ground was broken on Thursday for the development, which is being undertaken at a cost of  J$4 billion. 

Under phase one of  the project, $1.3 will be spent on constructing 576 units for delivery by August next year.

The JMB and National Commercial Bank have signed a syndicated loan agreement with the developers and proposed operator of  the new residences, for the first phase, with JMB taking on the role of  lead bank.    



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