Housing Authority confirms that real estate agents will be marketing, and selling 27 high-end residential, civic and commercial lots, on behalf of the Authority.
The Authority says these are all non-residential and high-end for which they had previously called Expressions of Interest for, and they are old stock in the Authority’s books for few years.
Housing Authority also clarifies that this, in no way, deviates from the Authority’s main objective which is to provide affordable housing to low and middle-income earners.
It says the Authority has a policy for the sale of high-end and non-residential lots which requires them to be tendered out, before being placed with real estate agents.
Furthermore, these lots were previously advertised but tenders received did not meet the Authority’s valuations, as such they have been issued to registered real estate agents to market and sell on the Authority’s behalf.
The Authority says as the economy continues to feel the impact of the COVID19 pandemic, it is confident that this partnership through private and public engagement will be crucial in the selling of lots and meeting the demand for home ownership.
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