HOMELINK’s phase one of its US$30 million Lake Chivero Housing Development Project is now 40% complete, as the firm moves to start other developments.
Launched in September 2024, this project aligns with the government’s ambitious goal to deliver one million housing units by the end of 2025.
This comes as Zimbabwe’s housing backlog is about 1,5 million.
To meet its planned target for the year, the government has called on several developers to come together to deliver the million housing units by year end.
Responding to questions sent by NewsDay Business on the matter, Homelink managing director Tawanda Matembo said the project was still ongoing and there had been some significant development.
“Phase 1 is now 40% complete, and visible infrastructure is boosting confidence among buyers,, leading to increased interest in stand sales,” he said.
“We are excited to share a progress update on Homelink Estates, our US$30 million housing development located 28km from Harare CBD [central business district] towards Lake Chivero.
“Launched in September 2024, this ambitious project is designed to provide modern and affordable residential solutions and is being developed in three phases.”
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According to Homelink, it has completed 35% of the project’s road works, with 64% of water reticulation through a 7km pipeline having been laid for the project.
“Initially, sales were moderate as we started selling the virgin land off-plan. We are seeing growing demand as servicing milestones are reached,” Matembo said.
“With more on-site progress, we anticipate a stronger uptake in the coming months.”
In addition, Homelink Estates, the real estate arm of Homelink, has another line of projects across the country, including Homelink Park in Bulawayo.
This is 2 000 square metres in size with prices ranging between US$15 and US$19 per square metre.
Homelink Estates is also building the Homelink Heights Crowborough in Harare, a six-block of three-storied flats, and the Bushmead housing project in Masvingo.
Matembo added that a new project development was coming in Chinhoyi, which comprised 809 stands.
“Homelink is dedicated to expanding its footprint in Zimbabwe’s real estate sector, with new projects on the horizon,” he said.
“We plan to launch another major housing project at St Ives in Chinhoyi, comprising 809 stands.
“Unfortunately, there are a lot of moving pieces with that project, and I cannot provide any further details at the moment.”
Homelink is a financial institution in Zimbabwe that specialises in property development, loans and money transfers.
