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NewsDay

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RBZ to launch housing project

Business
A RESERVE Bank of Zimbabwe (RBZ) subsidiary will today have a ground-breaking ceremony for a housing project in Tynwald.

A RESERVE Bank of Zimbabwe (RBZ) subsidiary will today have a ground-breaking ceremony for a housing project in Tynwald.

BY BUSINESS REPORTER

rbz

Homelink (Pvt) Ltd, through its strategic business unit (SBU) Proplink, will launch the project in which 100 housing units will be built and 80 housing stands will be serviced.

Proplink was born out of the re-organisation of Homelink by creating four SBUs — Proplink, Easylink, Masterlink and Investlink — to enhance Homelink’s ability to mobilise Diaspora remittances both for consumption and investment purposes.

Proplink is focused on industrial, commercial and residential development for the Diaspora.

In his mid-term monetary policy review, RBZ governor John Mangudya said Proplink would also develop shopping malls, factories, office complexes, schools, hospitals and resort facilities.

He said the development of these facilities would be financed through Diaspora property development bonds with subscribers in the Diaspora having the option for equity participation.

Mangudya said Proplink would also construct low-cost houses and offer stands and mortgage loans to Diasporans. He said other than the Tynwald and Mabelreign housing projects, Proplink has housing projects for Bulawayo, Mutare, Masvingo, Norton and Kadoma in the pipeline. Proplink also offers medical and funeral assurance, property insurance and real estate management for Diasporans and their relatives in Zimbabwe.