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Minister Mupfumira

Business Reporter
The National Building Society will construct 100 000 housing units in the next five years as part of its efforts to n order to reduce the national housing backlog.

NBS which is wholly owned by the National Social Security Authority was established last year with a mandate to provide low income earners from across the country with affordable housing through mortgage loans.

NBS managing director Ken Chitando told the NBS Housing Development Road Show last Friday the building society had set a five year target to aid Government efforts to provide housing for its citizens.

““We are looking to develop 100 000 units in the next five years, and by end of March we should have a repository of at least 50 development projects.

Public Service, Labour and Social Welfare Minister Prisca Mupfumira said Government was facing increasing pressure to deliver decent and adequate housing.

“As you may the aware, the country is facing a backlog of an estimated 1, 25 million housing units due to rising demand in urban and resettled areas,” she said.

“Government has committed itself to delivering over 60 000 housing units per year in order to reduce the national housing backlog. However, all of these ambitions require committed and organised actors,” she said.

Minister Mupfumira said the NBS would assist the government in reducing the national housing backlog through its low cost schemes.

Mr Chitando said NBS would leverage on public-private partnerships in its goal to achieve 100 000 units, with private developers set to account for 80 percent of its housing pipeline.

City of Harare acting Town Clerk Josephine Ncube said the municipality had vast opportunities for investment in the housing development sector.

“We also have a huge housing backlog which is about half a million of those that are registered only and this presents many opportunities for any serious investor because the land for housing is available and the market is extremely competitive,” she said.

Mrs Ncube said the city also needed investment for renovation of the dilapidated Mbare flats.

“As the City of Harare, we are looking for investment in the re-generation of Mbare flats which are now very old and are good candidates for urban re-generation,” she said.

The Harare roadshow heralds the beginning of a series of countrywide shows by the NBS as it sets footprint in the housing development sector.

The roadshows are running under the theme, “Unlocking low cost housing through strategic alliances and value chain engagement.”