IDBZ services Marimba stands

The Infrastructure Development Bank (IDBZ) begins site servicing of its $6 million housing project by April after getting necessary clearance from the City of Harare and the Ministry of Local Government, Public Works and National Housing.

BY TARISAI MANDIZHA

The project is located in New Marimba Park in Harare where IDBZ will develop high and medium density stands.

“The bank has made significant progress with both the City of Harare and the Ministry of Local Government, Public Works and National Housing in terms of securing the necessary project clearances and physical planning approvals. These processes as well as the engagement of the contractor who will undertake civil works on site are nearing completion,” IDBZ said.

IDBZ BANK 2

“The bank wishes to inform its valued clients and other stakeholders that site servicing will now commence by the beginning of April 2016 at the latest,” IDBZ said in a statement.

Last year, IDBZ launched the Homesavers account to mobilise resources to rollout housing projects in Harare, Bulawayo, Gweru, Kadoma, Mutare, Chinhoyi, Kwekwe, Masvingo, Bindura and other urban centres.

The bank said it would deliver 30 000 units that include flats, houses and serviced stands by 2018 with an annual target of 5 000 units.

Under the National Housing Delivery Programme (2014-2018), government will deliver 313 368 fully constructed housing units or serviced stands, with the beneficiary being the main contributor, and government providing land and bulk infrastructure services.

In his 2016 National Budget statement, Finance minister Patrick Chinamasa said for future sanitised housing land development, government was going to partner contractors and building societies to put up infrastructure such as roads, water, social infrastructure such as schools, hospitals, clinics, sporting facilities and sewage systems.

The country has a housing backlog of 1,25 million units.

Chinamasa said government was exploring the formulation of a policy to transfer all undeveloped urban State land on to the balance sheet of the Urban Development Corporation in order for it to leverage its balance sheet for the mobilisation of resources required for servicing land for housing and industrial infrastructure development.

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