Botswana Housing Corporation (BHC) has announced that the Tsholofelo Housing Development Project in Botswana that cost US $37m is complete with 372 houses already put up for sale.
BHC CEO Reginald Motswaiso who confirmed the completion of the project, said the project came about as a housing development scheme that will bridge the gap between Batswana who are the beneficiaries from the government administered Self Help Housing Agency (SHAA) and those who afford the BHC housing initiatives.
Tsholofelo Housing Development project
The US $37m project was conceptualized in 2009 under a loan that would be payable in 15 years. Each house costs US $ 41,000 inclusive of Value Added Tax (VAT). The youth will only pay 50 per cent of the administration fee.
The 372 Housing Development Project was built on government procured land and divided into four construction contracts namely Engi-Con (Pty) Ltd, T&T Painters and Decorators, Ossy and Sons and Bharon Construction. They were contracted at a sum of US $6m, US $2m, US $2m and US 2$m respectively.
Initially the government intended to build 1000 houses but due to budget constraints, the plan could not progress. Motswaiso confirmed that houses will only be sold in cash and not in installment purchase scheme as earlier proposed.
A third for the youth
The CEO further added that a third of the houses are set aside mostly for the youth aged 18 to 35, while the rest of the houses are open to first time Botswana home buyers regardless of their age and income bracket. This according to Reginald Motswaiso will bridge the gap between Botswana’s who can afford BHC housing initiative and beneficiaries from the Self Help Housing Agency (SHAA).
Other government housing projects include SHHA Home Improvement and SHHA Turnkey. SHHA Home Improvement’s main objective is to provide funding renovation of an existing house or completion of an existing house or an unfinished structure. SHHA Turnkey involves the design and construction of basic core houses for eligible low income households where beneficiaries pay US $35 per month at no interest for 20 years