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3000 New Housing Units

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Homelink plans to build 3 000 housing units

Reserve Bank of Zimbabwe (RBZ) subsidiary Homelink plans to build over 3 000 housing units and commercial buildings near Lake Chivero in a bid to provide decent and affordable houses for all Zimbabweans especially the Diaspora community. Homelink has been a significant player in housing provision since 2004 when it established the Homelink Housing Development Scheme (HHDS).

To date, Homelink has provided houses for at least 1 500 families. Homelink CEO Desmond Ali told The Property Guide that Homelink is committed to provide decent accommodation for all Zimbabweans.

“As such, Homelink has concluded the purchase of 243 hactares of land at Strathmore Farm near Lake Chivero, where we are planning to construct about 3 000 housing units and other commercial buildings.

“In addition, we are in the process of acquiring over 300 stands in Bindura, where stands will be offered to the market before the end of 2017,” said Mr Ali.

On the amount of money which the company needed to invest into its projects, Mr Ali said: “The capital required run into tens of millions of dollars, which we cannot estimate at the moment as we are still at planning stage.”

Chief milestones, which Homelink has completed included construction of houses in Westgate (120 units), Waterfalls (25 units), servicing of stands in Tynwald (Harare) (205 stands) and Parklands in Bulawayo (137 stands).

It also provided stands in Mutare (40), Norton (115) and Kadoma (15), in addition to providing people with finance to purchase finished houses on the market.

Mr Ali highlighted that the experience gained strategically puts Homelink in a position to deliver more houses and stands to the market as it embarks on a journey that will propel them to become one of the giants in housing solutions in the country.

This is in line with Zim-Asset, which estimated the national housing backlog at 1,25 million housing units 2013.

Government also targeted to deliver a minimum of 313 368 housing units and serviced stands over a five-year period (2014-2018) through its National Housing Delivery Programme (NHDP).

The company is at various stages of identifying land and concluding deals for land in Bulawayo, Manicaland, Harare, Midlands, Masvingo and Mashonaland East. Homelink’s model of projects is built around providing solutions to customers in an affordable, developmental and sustainable manner to cater for the various needs of their clients.

To that effect, models are being designed to produce houses affordable to the public servants, private sector employees, informal sector players and the Diaspora.

Homelink’s projects assume a multi-dimensional benefit to the economy and society in general some of which include selling some of the stands and houses to the Diaspora as this would create a consistent stream for future foreign currency inflows for economic development.

Homelink’s thrust of constructing new housing units is in tandem with Government’s objectives of increasing the national housing stock as outlined in Zim-Asset.

There will be creation of employment in the construction and related supply industry for contract and permanent employees and an increase in the country’s tax base, through company and individual taxes.

Homelink projects will augment Zesa power supply through solar and biogas power supplies.