NBS targets 10 000 housing units by year-end

THE National Building Society (NBS) is targeting to fund the construction of 10 000 high to medium density housing units by the end of this year after partnering with private property developers to address the acute shortage of accommodation in urban centres.

The country has a housing backlog of about 1,25 million.

According to the Zimbabwe Statistical Agency 2012 Census results, urban population increased from four million in 2002 to 4,3 million in 2012 which is about 33 percent of the country’s population.

This has resulted in a high demand accommodation in urban centres.

In an interview on the sidelines of a tour of Magakoosha housing project where NBS partnered River Valley Properties in Shurugwi, acting managing director Mr Larmeck Danga said the financial institution was confident of meeting its target of 10 000 housing units by year end.

“The facility is not only for civil servants but we cut across all sectors including those in the private sector.

“The houses are relatively affordable. In Shurugwi we are developing over 500 housing units but we have a national target of about 10 000 houses units that should be constructed by the end of this year.

We are also expanding as NBS, we are going to open branches in Masvingo and Mutare and we are recruiting agencies and we are also utilising NSSA offices throughout the country where people can access our services,” he said.

The bank is offering mortgages of up to 25 years. of