adminrun by the Industrial Development Corporation of Zimbabwe, is largely expected to provide impetus to the country’s housing development sector.
However, Sunway City has indicated that it is facing financial challenges that are impeding it from completing major offsite infrastructure for the project.
Sunway City head of marketing Mr Takesure Chimenya told the Herald Business that the high- and medium-density schemes are yet to be serviced.
“We are cognisant of the fact that there is huge demand for this stands but we are constrained by the huge capital outlay needed to put sewer infrastructure in place.
“We are mobilising resources to put in place major offsite infrastructure like sewer ponds as well as roads and water reticulation. Generally, we see this as a medium-term project, which should be completed between one and three years,” he said.
On the other hand, servicing at the Sunway City’s low-density has been progressing well, with construction of houses under phase one of this particular section of the project well underway.
The low-density scheme was structured in three phrases, with 225 stands having been pencilled for servicing and sale in the first phase.
Servicing of the low-density project is being carried out as a joint venture with the Ministry of National Housing and Social Amenities.
Mr Chimenya explained that they had, however, begun with the low-density project because of the lower capital requirements for servicing.
“The high-density project typically requires extensive capital for sewer infrastructure.
“This explained why we started with the low-density sector where this is not a requirement because of septic tanks,” he said.
The Sunway City residential projects will offer local housing developers short-to-medium term business opportunities. In respect of the broader context, Zimbabwe’s housing sector has inherent opportunities that emerge out of a considerable backlog of an estimated 1,2 million urban houses.
However, realisation of these opportunities is dependent on the availability of adequate funding, which is not the case at the moment.
Meanwhile, the 1 560 integrated industrial park also offers significant business opportunities to local construction companies in view of other massive industrial complexes that are being developed there.
Online Reporter