THE Insurance Institute of Zimbabwe (IIZ) has embarked on a housing project which is meant to provide houses to over 6 000 people in Harare, an IIZ official has said.
Report by Pamela Mhlanga Own Correspondent
Speaking on the sidelines of the institute’s conference in Bulawayo on Tuesday, IIZ outgoing president Simon Chapereka said the housing project was one of the major developments that the institute was currently working on.
“The institution is involved in this high-density housing project where land has been bought. We have bought land for 6 000 residential stands and the whole project will cost $20 to $25 million,” said Chapereka.
He could not, however, confirm when the project was expected to be completed, but said he was hopeful it would be sometime next year.
“We have already submitted our proposals to the Harare City Council and we are waiting for the council’s report,” he said.
Newly-elected IIZ president Chomi Makina said the project was spearheaded by the institute and other insurance companies that he was not at liberty to reveal.
He said the project was still in its formative stages and was meant to benefit people who included pensioners and clientele in the insurance industry.
“The formulation of the National Housing Fund was launched at the beginning of the year by Minister of Finance Tendai Biti. A board has already been set up to administer the processes of the project,” said Makina.