THE Harare City Council (HCC) has approved the servicing of Fidelity Life Limited new housing project following a nine-months approval period, a company official yesterday said.
Report by Business Reporter
Southview Park, Fidelity’s new housing project, is located opposite Boka Tobacco Auction Floors and has a total of 6 000 stands, which include commercial stands.
The company’s managing director Simon Chapereka said Fidelity has been waiting for the approval and it had been taking long due to council processes, among them an environmental impact assessment study.
“We were given the approval last week. We are inviting tenders for development and we are hoping development work starts by October,” he said.
Chapereka said in June this year council was numbering the stands in Southview Park, the final step before the issuing of the permit. The residential stands would cost $9200. Would-be home owners are also able to acquire the assets upon paying 25% of the cost plus installments paid over five to 10 years.
Would-be home owners are also able to acquire a stand upon paying 25% of the cost plus installments paid over five to 10 years. The housing development project includes a police station, six primary schools, two secondary schools, six crèches, 14 flats, two commercial stands, an open space and five churches.
The Southview Park, according to Chapereka, is Harare’s first low-cost housing project in the country since 2000. Fidelity first embarked on housing development projects in 2011 and developed 317 stands through its phase one project in Manresa Fidelity Park in Arcturus.
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Turning to the company’s plans to set an office in South Sudan, Chapereka said the company is yet to start operations.
“We are still waiting for regulatory approval for South Sudan. We have people commuting between the offices, ”he said.
Fidelity intends to partner New Insurance of Sudan as a way of spreading wings to the insurance sector in the east-central African nation.
He said the company believed that there was potential in Sudan. In the first five months ending May, the company premiums were up 22% and core business growth of 13% was recorded.