Firm steps up efforts to tackle housing backlog

projects in Mt Pleasant to complement Government efforts in providing decent housing to people.
The Mount Pleasant Heights Phase 2, also known as Zizalisari Lot 4, is owned by IBI Property and is being developed by Jockstar Investments (Pvt) Ltd.
The project will see hundreds of middle-income earners acquire properties in low-density residential areas.
Government has a backlog of over 1 250 000 units countrywide which has been partly attributed to lack of mortgage finance.
To achieve the UN’s Millennium Development Goals, Government has called on partners from the corporate world to assist initiatives to benefit the people.
The projects started in 2008 but progress had been hampered by lack of funds as a result of a hyper-inflationary environment during that period.
IBI owner Engineer Anthony Parehwa yesterday said land surveys and major roadworks were already underway.
Eng Parehwa has also been involved in other successful projects such as Westgate (Adyllin) and Mount Pleasant Heights Phase 1.
He said the project, like any other sector, has not been spared by the current economic challenges and non-availability of alternative funding from financial institutions.
“The project, being self-financing, has stood the test of time, having started at the height of the hyperinflationary environment of 2008. Despite the harsh economic environment characterised by hyperinflation, we survived and remained true and resolute to our objective of providing a rare opportunity for low and middle-income home seekers an opportunity to own decent houses.
“The project subscribes and supports the Government initiative of providing decent property investments to the relatively marginalised discerning property buyers. The project during these challenging times, has managed to carry outstanding surveys that are now complete, and also to start working on some of the road networks between 2008 and 2009,” he said.
Eng Parehwa said the dollarisation of the economy was welcome as it resulted in proper planning.
“Through interfaces and innovation we have resumed servicing on the project, so as to achieve its objective of providing a ready to build property.
“The developer has engaged various well-proven and experienced contractors to ensure quality delivery and timely completion of the project.”
He expressed gratitude to clients for their patience and support. Zimbabwe’s economy, he said, was beginning to show signs of recovery hence the need for investors to have confidence in the country.
“It is true that Government cannot go it alone and, therefore, the need for partners to continue chipping in so that in the end we have a well developed Zimbabwe,” he said.