NBS takes property development to rural areas

National Building Society (NBS)


The National Building Society (NBS) says it is planning to acquire more land for housing projects.

NBS said it would be engaging local authorities for the programme, as it moves to develop more targeted housing projects.

The building society, which last week announced a special housing scheme targeted at women, said it was also looking at coming up with a women retirement housing plan.

The plan will be called Remangwana (The Future), and it would allow women to have comfortable retirement.

Speaking during a panel discussion at a high tea hosted by the financial institution, NBS company secretary and head of legal affairs Rejoice Chipendo said the bank was on the verge of concluding a deal with Marondera Municipality involving 100 hectares of land.

“We are on an expedition to acquire more land for our housing projects. We have also been targeting local authorities, entering into partnerships and agreements with them. We have been to Plumtree and other places. Right now we  are on the verge of concluding a deal with the Marondera local authority where we will get 100 hectares of land. Even in Plumtree as well we are going to be acquiring land there. These acquisitions through local authorities address affordability in that the end product will be rightly priced and inclined to your  needs as the females. We are also addressing
the  region. It is not about women in Harare but it’s about women all over the country,” she said.

Chipendo said women also had to make a decision whether  they should retire  in rural areas or urban areas but the question has always been if it’s rural, how then does one acquire a home there?

“I’m excited to tell you that as NBS, we are going to be introducing a product called Ramangwana, which will also be catering  for women retirement. You will be  able to purchase a rural  home  and make a decision to  retire at your rural place ,” she said.

However, she cautioned women to exercise due diligence when acquiring property.

This comes as many people have fallen prey to land
scams perpetrated by land barons as the rush for land in Zimbabwe intensifies.

“There are certain issues that you need look out for,  due diligence. Target developers who are ready to go as they will be able to assist you in end-to-end facilities ensuring that your rights and interests are properly dealt with,” Chipendo said.

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