FBC invests $35m in housing

FBC Building Society managing director Mr Felix Gwandekwande (standing) addresses homeowners of Muonde Gardens in Harare at the official handover ceremony on Monday while FBC Holdings chairman Mr Herbert Nkala follows proceedings.

Tinashe Nhari Business Reporter
FBC Building Society has over the past five years invested over $35 million in housing projects countrywide, managing director Mr Felix Gwandekwande has said.

“We have undertaken high density housing projects in Mkoba 14, Gweru and Mbizo 9 in Kwekwe where a total of 359 high density units were constructed,” said Mr Gwandekwande.

“Currently we have a second project in Greendale where 10 cluster houses are being built. There are a number of other projects that we are exploring in places such as Springvale, Ruwa, Helensvale and possibly Westgate.”

On Monday, FBC unveiled its Muonde Gardens housing cluster as part of its grand scheme in providing housing which it has been at the forefront of reshaping the landscape of the property sector in Zimbabwe becoming.

Over $ 1,5 million was spent on the project.

FBC entered into property building five years ago with the objective of providing clients with a lifetime investment in home ownership that would secure them in the long run.

This vision has been in line with FBC’s drive to build affordable homes for Zimbabweans.

“Those of you who have visited our other sites around Harare, Gweru and Kwekwe will agree with me that our quality is top notch and our buildings are technically sound,” FBC Holdings chairman Mr Herbert Nkala said at the official handover ceremony.

Mounde Gardens is part of a number of projects that FBC has been spearheading over the past couple of years which began in 2009 in Waterfalls where the Society constructed 77 houses in Mainway Meadows, Waterfalls.

“Between 2011 and 2012 we constructed 46 houses in Montgomery Road and 36 cluster units in Washington Avenue, Waterfalls.

“Last year in September, the Building Society began the construction of 18 cluster units in Masotsha Ndhlovu Phase 1 which were handed over early this year” said Mr Nkala

“In February this year construction of 18 units in phase 2 of this development commenced which we handed over in July this year,” he added.

“Apart from this, FBC has plans to construct 18 units in phases 3 and another 18 units in phases 4 of this development. A total of 72 units will be developed under the Masotsha Ndhlovu Project.”