Andile Tshuma, Business Reporter
ZB BANK has availed 708 housing stands in Plumtree Town, which have since been opened up for sale to prospective home seekers in a partnership with the local authority.
Speaking in Bulawayo during a business function on Thursday evening, a ZB senior official, Ms Nomathamsanqa Bathabile Dube, said the stands were available for both high and medium density home seekers.
“We acknowledge the challenge in the housing sector and in our infrastructural investments we want this housing scheme to contribute to the provision of decent housing for all. We believe that everybody deserves to own a home or a piece of land, for peace of mind and as an asset,” she said.
“We are, therefore, providing stands with power, and water and a fully tarred road network.”
Ms Dube said 366 stands were availed in the high density area while 342 stands are on sale in the medium density category. The stand sizes range from 250 to 605 square metres. ZB Bank head corporate services, Mr Shadowsight Chiganze, told Business Chronicle on the sidelines of the event that the banking group was considering a housing project in Bulawayo as well.
“Our engineers have carried out surveys on our land banks and a housing project for Bulawayo is definitely in the pipeline. We are going to be announcing our new and exciting projects to the public,” he said.
“Our vision is to help provide a home and valuable asset to the public. Bearing in mind that the housing backlog has soared to way beyond a million, we aim to assist by contributing to the building of homes for many Zimbabweans who are still on the waiting list.”
Mr Chiganze said the bank has partnered with a number of rural district councils for more housing projects in emerging towns.
“We have held meetings with Gwanda, Zvishavane, Kadoma and today we are announcing this project in Plumtree,” he said.
The stands being offered have already been serviced and prospective buyers will be able to start building as soon as they make their purchases. Mr Chiganze said they had realised growth in uptake of mortgages, which shows the economy is on a positive trajectory.
“This all part of our development agenda and this housing scheme is present right across the country. We are very excited about the direction we are taking,” he said.
ZB bank group chief executive Mr Ron Mutandagayi urged the public to invest in real estate as it was a safe and reliable form of investment.
“Investing in real estate is the best that we can all do. It provides surety that our money is safe whatever trajectory the economy takes. Real state has real value and gains value over time. It provides better returns. As ZB we are excited about our projects and hope that they will contribute to reducing the housing backlog,” he said.
The current housing backlog nationally stands at over 1,4 million and Bulawayo alone has over 100 000 home seekers. The bank said stands were available to ZB account holders upon payment of 10 percent deposit fee and legal fees. Prospective buyers have been advised to walk into any ZB branch countrywide.