Daxmas Developers Limited, located in Bulawayo, plans to invest $12 million in a housing development in Douglasdale, Bulawayo in Zimbabwe’s second-largest city. The initiative is anticipated to help the historic industrial centre grow. The site is located in Douglasdale, Umguza district, among a mixed residential and agricultural region 15 kilometres from Bulawayo city.
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The intended residential construction of 37 additional dwellings in a housing development in Douglasdale, Bulawayo, a community exercise centre, and a security entry building was ongoing, according to Daxmas Development Limited’s chief executive officer Daniel Mataruka. He stated that they estimate that each house would cost around US$400 000 and that the project will cost between US$11,5 million and US$12 million in total.
Funding for the Project
Mataruka stated that the firm was already in discussions with its investors, who were enthusiastic about the proposal and willing to contribute financially. They’re only waiting for the firm to receive all of the required permissions so that the building can begin. Additionally, some potential purchasers want to begin contributing to the final product; however, Mataruka stated that the firm had not collected any money from anyone as of yet since they need to finalize all of the appropriate documentation and project approvals first. “We are seeing a situation where we will be able to finance these houses even without input from potential buyers,” Matakura concluded.
Each residence iat the housing development in Douglasdale, Bulawayo will benefit from the greatest level of sustainability and current building processes, and the housing project will provide car parking spots. According to Mataruka, each residence will include four bedrooms, one communal fitness centre with an outdoor swimming pool, and one security front entry building that will be heated sustainably by ground source heat pumps. The development will provide suitable services with a proposed site-specific sewage treatment facility built within the development.
According to Daxmas Developers Limited’s chief financial officer, Xmas Ncube, bank financing or internal corporate resources are two options for funding the initiatives. Ncube is situated in the United Kingdom, where it has completed comparable initiatives.
