IDBZ to unveil over 4 000 housing units

Kudakwashe Mhundwa Property Reporter —
THE Infrastructure Development Bank of Zimbabwe (IDBZ) is set to unveil just over 4 000 housing units once several national projects it is currently pursuing at a cost of $32,7 million are completed.

Areas to be developed include Kasese in Kariba, Empumalanga West (Hwange) and Sumben housing project in Mt Pleasant, Harare.

In a statement accompanying the bank`s financial results for the six months to June 30, 2017, board chairman Willard Manungo and chief executive officer Thomas Sakala said the Kariba housing development projects will provide residential stands for high, medium and low density housing units.

“The development will unveil 1 557 high medium and low density residential stands at Baobab, Batanga Kasese and Kasese extension sites in Kariba at an estimated cost of $14,8 million.

“These projects are in a bid to fulfil the staff housing needs for Zimbabwe Power Company to accommodate employees for the expanded Kariba South Power Station,” said IDBZ management.

“The Empumalanga West project targets to develop 2 135 high residential stands at an estimated cost of $5,8 million. The stands will be off take through various corporate and employer based housing schemes.

“Sumben housing project entails servicing of 370 low density residential stands with an average of 2 000 square meters at an estimated cost at $12,1 million.”

Part of the projects also include creation of a university and student staff accommodation project which is also expected to unveil accommodation to 6 412 covering seven universities across the country at a cost of $75 million.

The bank is currently securing funds to implement phase one of the USSAP project at the cost of $35 million.

“The bank is currently in the market mobilising funding to implement phase 1 of the USSAP project which will involve construction of student halls of residence for National University of Science Technology, Bindura State University and Lupane State University at an estimated cost of $35 million.”

Government earlier this year awarded a $2 billion tender to CBZ Holdings Ltd as part of efforts to construct facilities at various institutions.

Zimbabwe’s higher and tertiary education institutions are in need of physical infrastructure that includes staff and student accommodation, lecture theatres, laboratories, workshops, administration blocks, service centres and recreational facilities for 20 universities, 15 teachers colleges, eight polytechnics and five industrial training centres with a combined student population of 152 529 and staff population of 18 153.