More residential stands for Harare
AN increasing number of residential stands are becoming available in Harare as government, local authorities and the private sector complement each other to improve housing delivery, the Financial Gazette Property can reveal.
This brings a sigh of relief to the capital city’s home-seekers, most of whom have been falling prey to bogus land barons who have been operating illegal housing projects.
The City of Harare, in partnership with the Urban Development Corporation — a parastatal that falls under the Ministry of Local Government, Public Works and National Housing — would soon be availing 23 000 residential stands at the Caledonia Housing Estate, a suburb situated to the east of Mabvuku and Tafara in Harare.
The stands under the Caledonia project — whose funds are managed by CBZ Bank — would be released in phases.
Beneficiaries falling under the first four phases have already benefited.
In January this year, the City of Harare announced that it had started a housing development project on a piece of land in St Martins. The development has 234 stands.
The Zvimba Rural District Council, whose boundary starts on the western fringes of Harare, is offering residential stands in its Sandton Park suburb near Nyabira as well as plots at the Rainham development.
It is capitalising on government’s plans to relocate the capital city to Mount Hampden near Harare.
The Zimbabwe Stock Exchange-listed Fidelity Life Assurance of Zimbabwe (Fidelity) recently acquired an 81 percent stake in CFI Holdings’ Langford Estate — whose principal asset is an undeveloped piece of land valued at US$22,3 million.
It would be turned into a residential development project over the next three years.
Located next to Fidelity’s South View Park housing project along the Harare — Masvingo highway, Langford Estate is expected to yield 11 624 residential stands.
Development costs for the project are estimated at US$50 million, comprising US$18 million for road and storm water drains and US$10 million for sewer reticulation.
The project will also have 47 churches, 10 commercial stands, 35 crèches, three police stations, 12 flat complexes, 17 primary schools, five secondary schools and four clinics among other social services.
Fidelity expects to make significant development cost savings as a result of the utilisation of offsite infrastructure developed on its Southview Park project.
Last year, Fidelity availed just over 2 100 residential stands at Southview Park.
Zimre Property Investments has just embarked on a US$5 million housing project in Ruwa.
The project will see 238 medium density residential stands being made available by June this year.
Two years ago, the company availed 288 residential stands in Tynwald suburb in Harare.
Another private property development concern, Shelter Zimbabwe, is set to avail at least 1 500 residential stands in Harare soon.
According to a statement posted on its website, the organisation is finalising approvals for its Chizhanje housing project with the City of Harare.
“Shelter Zimbabwe has been granted a formal approval by the City of Harare to develop 1 500 high-to-medium density residential stands in the proposed Chizhanje Project located in the area between Mabvuku/Tafara and Zimre Park. Town planning layout approval, land surveying and civil engineering designs are being processed.
“Upon completion of the above outstanding processes, servicing and selling of the stands will commence to qualifying prospective buyers who should be registered on the City of Harare housing waiting list or under the employer assisted scheme.”
Fingaz Property has it on good authority that the Chizhanje residential stands would start selling around April this year.
Another property development firm, Sunway City — a subsidiary of the Industrial Development Corporation — this month announced plans to service and develop a piece of land measuring 67 hectares into medium and high density residential stands. The land, which is in the Ventersburg area between Harare and Ruwa, is bordered by Chavarozvi River to the east, Shambwa River to the west and Epworth to the South.
Under its ambitious Zimbabwe Agenda for Sustainable Socio-Economic Transformation economic blueprint, government hopes to avail at least 300 000 residential stands to home-seekers by 2018.
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