In addition to expanding its construction projects to Hwange, the FBC Building Society claims that phase two of its Fontaine Ridge housing project, in Harare will commence in the first quarter of 2023.
While the Hwange residential housing project servicing more than 765 stands, phase two of the Fontaine Ridge project will see the construction of 585 units.
This was revealed by the head of group marketing for FBC Building Society, Roy Nyakunuwa. He revealed this during a visit from a technical team from Botswana to the Fontaine Ridge construction site in Harare.
Residential accommodation has been developed by the FBC Building Society in Harare, Gweru, Kwekwe, and Zvishavane.
The Ministry of National Housing and Social Amenities seeks to provide modern settlements for Zimbabweans at reasonable rates by 2030. It is said that most of the country’s FBC housing projects align with this objective.
The development of world-class and reasonably priced housing for the general populace, however, necessitates the collaboration of players from the public and private sectors.
Phase two of the Fontaine Ridge housing project
By the end of the first quarter of 2023, according to Mr. Nyakunuwa, they intend to begin work on Fontaine Ridge phase 2. They also plan to begin construction on the Hwange project.
He said that land has been acquired in Hwange. Mr. Nyakunua claimed that they are still in the planning phase, including architectural designs.
The bank is determined to take part in infrastructure development. It is also looking to eliminate the national housing backlog. The backlog currently stands at around 1.5 million homes in Zimbabwe.
Phase 1B of the project completion date
He claimed that the Fontaine Ridge project was receiving a lot of support from the public at large. Phase 1A of the project was finalized in mid-2022. Also, phase 1B is scheduled to be completed by the end of 2022.
The projects, are part of the banking group’s resolve to work with major stakeholders, such as the government. It is said that the banking group aims to promote home ownership in Zimbabwe. This is according to Pius Rateiwa, managing director of FBC Building Society.
The company is intensifying efforts to develop modern housing infrastructure for all market segments, from low- to medium- to high-income groups. The FBC Building Society embarked on this state-of-the-art medium- to high-density Fontaine Ridge Housing Project. The company looks to successfully provide lasting solutions to customer needs.
He said that they appreciate the public sector’s efforts to make land available to the private sector as well as renowned developers who have a track record of adding value to the limited land resources within the confines of applicable regulations.
It has long been required for the government and private sectors to work together to provide decent housing for the general populace. This was mentioned by Engineer Joy Makumbe, Permanent Secretary for National Housing and Social Amenities.
He stated that the government was making every effort to meet its share.