President Mnangagwa pats FBC on back for housing investment

Harare (New Ziana) – President Emmerson Mnangagwa on Wednesday applauded the growing partnership between government and the private sector in developing the country, saying this should anchor national economic turnaround efforts, and not foreign investment which should play a complementary role.

Officially commissioning a huge FBC Building Society housing project in Harare, he repeated his clarion call that Zimbabweans should be masters of their destiny, and lead national economic recovery and development, and stop expecting foreigners to do this on their behalf.

A total of 269 houses, out of a planned 858, were commissioned at Fontein Ridge in Harare.

“At the onset, I want to commend FBC Building Society for investing and facilitating the provision of a wide array of modern housing infrastructure for our people. The housing products and services which the bank is promoting, including various home-ownership schemes are indeed commendable,” President Mnangagwa said.

He said the project’s commissioning followed similar ones he had recently launched in other parts of the country, some of which were partnerships between the government and the private sector.

He commended the growing partnership between the government and the private sector in the provision of housing, and other aspects of national development.

President Mnangagwa said in addition to such partnerships, Zimbabweans should also reconsider the growing tendency by Zimbabweans of flocking abroad in search of job and business opportunities.

He said it was disheartening to note that some people still believed that all good things were found outside the country, forgetting that Zimbabwe was bountifully endowed with riches.

“We must develop our country, ourselves on the basis of resources that are found in our country. Those who want to assist us can come to Zimbabwe and assist us on the programmes which we ourselves have structured,” he said.

President Mnangagwa commended FBC Building Society for the investment, which he said would go a long way in reducing the national housing backlog, which stands at over two million units.

Government alone, he noted, does not have the capacity to close the housing gap due to limited resources, hence the need for private investors to chip in.

“The quality of workmanship, design and layout is impressive and places FBC Building Society amongst some of the country’s leading real estate developers,” said President Mnangagwa.

He said access to affordable housing was a key priority for government in its quest to improve the standard of living of the majority.

He pledged government commitment to the creation of a conducive policy environment for accelerated development of housing, water, sanitation, modern road networks and other social amenities.

He expressed concern over the deteriorating state of municipal affairs in Harare, characterised by poor roads, and erratic water supplies, among other things.

FBC Building Society board chairman, Hebert Nkala said the financial institution recognised that housing is not only a right for all, but perhaps, the biggest asset that any citizen will ever possess.

He said Government’s target through NDS1 of constructing 220 000 houses by 2025 was achievable through the participation of the private sector.

He said the building society’s residential property development targeted all market segments, and it had become a dominant force in real estate over the years.

So far, it has delivered 2 000 housing units on the market.

“FBC’s vast experience, coupled with invaluable support from the Ministry of Local Government and National Housing has resulted in the development of state-of-the-art properties in Zimbabwe’s capital city and we believe we have contributed in reducing the national housing backlog in the country,” said Nkala.

In the capital, the building society has delivered 12 cluster housing projects, among them in Avondale, Belgravia, Newlands, Greendale, Glene Lorne, Kuwadzana, Mt Pleasant and Waterfalls.

In Zvishavane, Nkala said FBC Building Society had completed 100 upmarket houses, and was looking to deliver 1000 more soon, whilst in Hwange, it had acquired a piece of land for 775 houses.

In Bulawayo, he said the building society was planning to acquire another piece of land that will accommodate upto 500 high density houses, with construction set to start soon.

National Housing and Social Amenities Minister, Daniel Garwe said so far, government and the private sector had provided 180 000 housing units, inclusive of serviced stands.
New Ziana