HomeBusinessStorm over Fidelity’s housing project

Storm over Fidelity’s housing project


Listed financial services group, Fidelity Life Assurance Company, is in the eye of a storm after failing to honour its side of the bargain to purchasers, who bought residential stands at its South View housing project.


Those that bought residential stands under Phase 2 at South View Park have not been given the go-ahead to begin construction despite raising the required deposit of $3 750 and are up to date with their monthly instalments.

South View Park has 5 300 stands along Beatrice Road between Amalinda and Cecil roads.

The stands comprise residential stands averaging 240m².

While those who are under Phase 1 have been given the nod to construct their houses, the stands have not been fully developed and are without water and electricity.

According to the agreement of sale gleaned by NewsDay, the purchaser was to be allowed to commence construction of their stand, provided that one had fully paid the required deposit and was up-to-date in paying instalments.

“I paid my deposit in full, and now we are paying the balance over the period of five years. It has been two years since I was served with a letter allocating me a stand, but sadly, they are not allowing us to build on the stands,” one of the affected purchasers said yesterday.

“According to the memorandum of an agreement of sale, we were supposed to be shown the stands and start building after paying at least 50%.”

NewsDay was told yesterday that Fidelity was telling affected buyers that it had not been given a certificate of compliance by the City of Harare and that others were defaulting on paying monthly obligations to the company.

The company is being blamed for giving more attention to its Langford Estates and neglecting its South View park projects.
In written responses, Fidelity said prospective home owners must wait a little longer, as the area must receive council certification for compliance.

“People can only be given the greenlight to build upon certification by the city council. Despite paying above 50%, the area, where the stand is, must first receive council certification for compliance with road, sewer and water reticulation. We are giving authority in phases, following completion of development and subsequent council certification,” the company said.

“On-site water reticulation is complete. However, we are still working on off-site water works, that include building an off-site reservoir. Individuals have the obligation for electricity reticulation.”

South View is Fidelity’s second housing project after Manresa. After this project, Fidelity wants to develop Langford Estates.

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