China-Africa Construction Limited has won a contract to construct Magamba 2015 Housing project in Harare at a cost of $1,9 million.
BY VICTORIA MTOMBA
The company, a subsidiary of China Civil Engineering Construction Corporation, said on its website that it had entered into a
commercial contract with the Local Government, Public Works and National Housing ministry for the construction of the project.
It said the contract value amounting to approximately
$1,9 million represented about 1,99% of the operating revenue of the company for the year 2014.
China-Africa Construction said upon completion of the contract, the project owners would “implement the financing for the project and the parties will enter into phased construction contracts separately according to the progress of the financing for the project.”
The Harare South-based, Magamba Housing Co-operative had in the past been occupied by illegal settlers, mostly war veterans.
The country has a 1,25 million housing backlog and under the Zimbabwe Agenda for Sustainable Socioeconomic Transformation seeks to provide 250 000 low-income houses in five years.
Zimbabwe is working towards addressing issues of housing to assist the general population. Finance minister Patrick Chinamasa, in the 2015 budget, made provision of $18,8 million for the implementation of housing development projects.
“The government and local authorities will provide land to developers who, upon meeting set standards, will be given early title to the land which can be used as collateral by the land developers when accessing funding from the private sector for on-site infrastructure,” he said.
Treasury said it would channel $17,2 million towards the upgrading of water and sewer infrastructure in local authorities. The 2015 budget also provided $15 million for the development of stands under the National Housing Revolving Facility.