Homelink seeks $50m for residential stands



Martin Kadzere : Senior Business Reporter

HOMELINK, a subsidiary of the Reserve Bank of Zimbabwe, intends to raise as much as $50 million to fund the development of residential stands and construction of housing units. Chief executive Mrs Stellamaris Chorwira said Homelink would go on the market to raise the funds once all regulatory approvals have been obtained.Homelink, through its property division, Proplink develops and sells residential, commercial and industrial properties.

The initial bond amount of up to $15 million has already been accorded the prescribed asset status, according to the Insurance and Pension Commission.

“We have other approvals from relevant ministries that we are still waiting for before we move on,” said Mrs Chorwira.

Some of Homelink’s upcoming projects include high rise flats in Marlborough, Bulawayo, and Mutare.

The developments will include fully constructed houses and flats. Serviced stands will also be sold to suit the budgets of various clients, according to the company’s website.

Loans for stands have a maximum tenure of three years while housing mortgages have 10 years.

Since its formation, Proplink has grown to become a significant player in the property development business.

Some of its projects include the Waterfalls Prospect project where it built and sold 152 modern three-bedroom houses to mostly Zimbabweans in the Diaspora and the Westgate project where it constructed and sold 50 houses. The company has just begun selling housing units and stands in Tynwald.

Zim-Asset, the country’s economic blueprint (2013-2018) targets to deliver 125 000 units.

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