The 3 East Greater Portmore area is part of the massive Greater Portmore development. - PHOTO BY ANTHONY MINOTT
THE NATIONAL Housing Development Corporation (NHDC) is willing to again put on the market its approximately $3 billion portfolio of Greater Portmore mortgages, but says it will sell only if gets a good offer.
"It's a good quality portfolio," said the NHDC's acting CEO, Joe Shoucair. "We would sell if the price is right."
The NHDC financed the development of several thousand homes in Greater Portmore in the early 1990s, on which it holds mortgages. It recently tried to sell the portfolio as the corporation moved away from open market schemes to the development of homes.
"We were in discussion with a number of institutions to sell, but the talks didn't get anywhere," he said. "Their prices were too low."
"We are still open to offers," he said.
The NHDC has developments under way or on the drawing board at Lady Musgrave Road, White River and Stadium Gardens.
"We are still developing," said Shoucair. "We are not into mortgages."
