CBZ Holdings has unveiled a $11,4 million housing project in Victoria Falls as it steps up efforts to provide low-cost housing.
BY TATIRA ZWINOIRA IN VICTORIA FALLS
The project will result in the provision of 1 174 high and medium density residential stands.
The new project comes after the group completed low cost housing projects in Chikanga (Mutare), Nehosho (Gweru), and Mbizo (Kwekwe). Currently, the group is working on projects in Bulawayo and Marondera.
Speaking at the official unveiling of the project yesterday in Victoria Falls, CBZ Holdings group CEO Never Nyemudzo said to date the group has spent about $70 million in housing development projects.
“The group has developed various projects ranging from low, medium and high density schemes as a private developer and or in conjunction with city councils.”
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He said the group was aiming for towns where they do not have any reach as they believe offering medium to high-density residential stands would attract first time home owners.
Of the total stands in the Victoria Falls housing project, 1 008 are high density with the remainder being medium density in line with the group’s strategy to deliver low cost housing. The average size of the stand is 240m2 for high density and 600m2 for medium density.
Currently, the housing backlog in Victoria Falls stands at 15 000.
The nation backlog is estimated to be 1, 25 million as government battles to raise revenue to implement its strategies.
Local Government, Public Works and National Housing minister Saviour Kasukuwere said the housing backlog was a tall order which required combined forces to address.
“In order to reduce the national housing backlog, my ministry introduced a new beneficiary contributory scheme known as the Home Ownership Scheme. The scheme is a strategy and mode of delivery to implement the National Housing Delivery Programme (2014 to 2018) which has a delivery target of 313 368 housing units or serviced stands and is in line with the ZimAsset housing delivery set objectives,” Kasukuwere said in a speech read by his deputy Christopher Chingosho.