THE Infrastructure Development Bank of Zimbabwe (IDBZ) says 50% of its residential stands in New Marimba have already been taken up.
BY VICTORIA MTOMBA
IDBZ chief executive officer Charles Chikaura said half of the 707 stands in New Marimba have been sold and the individuals who have bought the stands will develop them after paying 60% of the total cost of the stand.
“The uptake for the available stands has been good. The bank has also decided to avail a mortgage facility to qualifying purchasers of the stands and this has increased demand. It is envisaged that this will make the stands more affordable to low income earning households and individuals. The bank will soon commence signing agreements of sale with successful beneficiaries and this will be an ongoing exercise until all the stands are taken up,” he said.
IDBZ launched the Home Saver’s account this year with funds raised through the account used to roll out housing projects in Harare, Bulawayo, Gweru, Kadoma, Mutare, Chinhoyi, Kwekwe, Masvingo, Bindura and other urban centres.
The bank’s high-density stands will be 300 square metres while the medium-density stands will be 510 square metres. The high-density stands will cost $13 500 while the medium-density stands will cost $22 950.
The bank plans to deliver 30 000 units that include flats, houses and serviced stands by 2018 with an annual target of 5 000 units.
The country has a housing backlog of over 1 million units. Banks have stepped in to alleviate housing shortages by rolling out residential stands and in some cases complete houses.
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Meanwhile, Chikaura said the bank was working towards raising $30 million for the completion of the Tokwe-Mukorsi Dam through private placement.
“Investment discussions and consideration regards to the project are currently ongoing and the bank should be in a position to make the information public once these have been completed before end of this quarter,” he said.
The dam is expected to help rural communities with irrigation facilities.
