Support quality growth

THAT the property market has registered tremendous growth in the last four years is testimony of the country’s enviable leap towards sustainable development. Yes, in the last four years, the property market has picked up to the tune of $1.1 billion, albeit an existing housing deficit. Since the change in the housing policy in the Chiluba era, Zambians have realised the imperative need to seek housing ownership initiatives that have triggered massive infrastructure development. There is a growing propensity among the citizenry to own houses even among the youth that are just getting into employment. Even those in the informal sector have an itching urge to build their own houses, hence the proliferation of new settlement areas all around the country. Though home-ownership initiatives are more pronounced in the urban setting, the rural outposts are also racing towards unprecedented growth. Most parts of the rural areas have experienced growth in terms of domestic dwellings. What is interesting is the fact that even locations with rough terrain have been taken up with houses nestled in rugged or undulating landscape. In Mpika for instance, residents have built even in the hilly areas of Muchinga escarpment, which were hitherto inhabited by wildlife. It would not be surprising, if residents continue building up to Chief Nabwalya`s area in the Muchinga escarpment valley. Thus the face of the country has changed both in the rural and urban locations. Yes, the real estate has grown due to a number of reasons. One of them is progressive regulatory processes and supportive environment that have made it easy for people and firms to develop properties. As Housing and Infrastructure Development Minister Ronald Chitotela observed, the strength of the institutions in the pensions fund has also necessitated growth in the real estate. National Pensions Scheme Authority (NAPSA), for instance, has invested heavily in infrastructure which includes housing units in areas including Kalulushi. Additionally, NAPSA earnings on retired personnel have enable some people put up their own houses. The growth of the property market has positive spinoffs such as job creation and also facilitates growth in firms providing raw materials such as cement, stone, roofing sheets and other building requirements. For instance, China National Building Materials cement plant was commissioned in July this year in Chongwe to the tune of $500 million. There will be increased competition in the industry which also has giant firms, Dangote Cement Limited and Lafarge Cement. Prices of cement will invariably go down. Block-making companies have also sprouted in the country, providing employment and affordable blocks. As the real estate industry grows, there will certainly be need for improved planning so that the country`s face is not scarred with ugly structures. Platforms such as Zambia Real Estate Property forum are indeed important in Zambia`s quest to grow in an orderly manner. The Zambia Institute of Planners (ZIP) is yet another important body that requires support in regulating the practice of planning in the country. Going by ZIP`s vision “creating liveable places through quality planning and practice” this corporate body is extremely important and necessary in this growing property market. Another body is the Zambia Institute of Architects whose services must fully be utilised in improving standards and promoting good practice. At the centre of it all, are the local authorities and the Ministry of Lands that require to remain steadfast in land management. Therefore, as the real estates` market grows, all institutions concerned must pool resources and ensure compliance, good practice as well as high quality products.