Zimbabwe government launches the project of construction of apartments in rural areas for civil servants. The project anticipates the construction of 220000 units by 2025. Construction of 400 blocks of flats of 4 storeys each has commenced as a pilot project in Uzumba Maramba in Mashonaland province.
The government is undertaking the project under the Rural and social amenities programme. Additionally, the rural project will attract photovoltaic solar power projects to provide power to the housing programme. This is in regards to the favourable geography of the country in rural areas which provide vast renewable energy resources.
These developments demonstrate the Zimbabwe government is walking the talk on the provision of modern houses. Furthermore, this move aims to realise the country’s vision for 2030 of making the country an upper-middle-income society.
Construction of Marondera flats is taking phases with the first phase aimed at settling 64 families. Additionally, the second phase will involve the construction of two blocks of flats that will benefit 32 families.
Also Read: Sumben Housing Project in Harare, Zimbabwe, edging closer to Completion
Significance of the Civil Servants’ Apartments in Zimbabwe
A total of 3902301 jobs were developed during the construction of the project. The jobs ranged in the stands servicing, materials manufacturing, retail and hardware sale. Importantly, the housing sector demands for cement consumption thus boosting the cement production industry.
Commercial banks CBZ, ZB Bank and FBC provided access to loans for the projects granting around US $65 million. Additionally, the same banks have submitted fresh applications as returning clients for social housing funding. Moreover, the National Building Society and Fidelity Assurance Company have expressed the same interest.
The move by the financial institutions will immensely benefit the economy by attracting investors. Noteworthy, the investors will be attracted by the predictable, stable and attractive investment returns created by the financial institutions.
