Harare, (New Ziana) – The Urban Development Corporation (UDCORP) is open to partnering private players in housing projects throughout the country.
According to the UDCORP Act, the corporation’s mandate is to plan and coordinate urban growth, generate employment and provide housing and social facilities.
On 17 April 2023, the UDCORP Board approved a very ambitious Transformation Strategy to turnaround its fortunes.
In an interview with New Ziana on the sidelines of the Knockmalloch housing project in Chegutu, UDCORP chief executive officer, Joey Shumbamhini said the corporation had set its eyes on becoming a profit-making entity.
“As part of our transformation strategy, we are mobilising resources from the private sector, local and regional financial institutions. I would like to reiterate that we are open to partnering private players to deliver housing projects throughout the country.
“Through the implementation of our transformation strategy, we re-position the corporation to be the Government’s vital cog for mobilisation of private investment into housing and infrastructure development in line with President Mnangagwa’s mantra, “Nyika inovakwa nevene vayo.”
“To attract private investors, we unlocked the UDCORP land bank and resuscitated project works. Further to that, we reviewed the UDCORP business model and we are also in the process of implementing the new model,” Shumbamhini said.
For the Knockmalloch housing project, the corporation managed to attract investment from the private sector where a number of companies and Pension Funds purchased stands for their employees.
“Going forward, we are calling upon companies and institutional investors to approach UDCORP for Public-Private-Partnerships or commercial joint ventures in housing and infrastructure development,” he said.
Some of the UDCORP projects that are open for partnerships with private players include the Manresa phase 2 flats and the Plumtree and Hwange flats.
“We are calling upon Pension Funds and corporates with an appetite for provision of housing solutions to their employees to approach UDCORP. We can enter into Memorandum of Agreements after which we can work together to identify and acquire land for housing developments,” Shumbamhini added.
New Ziana
