The Samoa Housing Corporation had a “stellar” financial year 2020. They delivered a record financial performance of $2.1 million tala profit compared to previous fiscal year of $1.8 million a 15 percent increase.
The annual report says the Corporation managed to offers its first ever widely scoped stimulus package of $4 million to support its customers and stakeholders in the way of the unprecedented COVID-19 pandemic economic downturn.
Furthermore the report says SHC loan portfolio in 2020 was $60.2 million an increase compared to the previous financial ear in the amount of $56.2 million. This indicated a growth of seven percent.
The growth articulates the high demand for the Housing’s financial services, as their mandatory functions to increasing loans accessibility to those on modest incomes to improve their quality of life living standards which is a great contribution to the allegation of poverty and promote home and property ownerships.
The Housing’s rental portfolio became one of their two major core function actives since its transfer in 2013.
The rental capacity for financial year under review is 100 percent and the housing is planning on maximising its house by building multiple units to replace old housings stocks not in recoverable state of repair to meet the growing demand from Samoan.
