FBC Building Society, Zimbabwe’s locally owned building society, is set to develop 3 upmarket housing projects in Harare’s Avondale, Greendale and Mt. Pleasant areas.
Indications are that the properties in Avondale will be 2 bedroomed garden flats, while those in Greendale and Mt. Pleasant will be 3 bedroomed duplex apartments, all of which will be available to the market through a mortgage facility.
Also read:Zimbabwe’s NBS to rollout 10 000 housing units in 2017
Real estate is considered to be a perfect hedge against economic uncertainties but concerns were raised over the cost of acquiring properties, which many consider to be beyond their reach. The Building Society challenged this assertion by highlighting that their properties are competitive enough for the market as evidenced by their fast uptake.
In 2016 FBC completed various other housing projects that catered for all markets across the country. Tyran Mews, the financial services firm’s first high rise flats, comprised of 24 units and catered for the high end market.
This is in addition to the 17 units that were delivered under the Rhino Gardens project, also for the high end market.
The Masotsha Ndhlovu Housing Project in Harare’s Waterfalls area targets middle income earners and comprises of 90 units, which are already being sold at US$99,500.00 for each unit. These units are available through a mortgage facility with a repayment period of up to 20 years.
Over the years FBC Building Society has grown to be one of the Zimbabwe’s major mortgage lenders.FBC Building Society was established in 1992 as the first locally owned building society named Zimbabwe Building Society.
It was acquired by FBC Holdings in 2005 and has over the years become a major provider of financial services that include mortgage financing, property development, retail banking and treasury services. In line with its vision of providing world class residential properties
