NBS builds 2 600 low-cost houses

THE National Building Society (NBS) has so far injected $33 million into the construction of 2 600 low-cost houses in Dzivarasekwa and Caledonia Valley.

The houses are already under construction with 550 units expected to be completed by March next year.

This is the second wave of the housing scheme project, which has seen NBS working with N-frays Construction Company, after the unveiling of 75 newly built lowcost houses in Amalinda high-density suburb in August.

NSSA chief executive Ms Liz Chitiga, who visited the two sites yesterday, said the projects were in line with President Emmerson Mnangagwa’s call for tangible deliveries within his first 100 days in office.

“For Dzivarasekwa, NSSA invested $17 million towards the construction of 600 houses, ranging from one to four rooms,” she said.

“In line with His Excellency President Emmerson Mnangagwa’s call for tangible deliveries within 100 days, I am delighted to inform you that by March 2018 we expect to have completed 300 houses in Dzivarasekwa and another 250 in Caledonia.

“In addition to providing houses, our projects have a positive impact on society through the provision of jobs. The biggest beneficiaries in terms of employment are the youths and these are mainly drawn from the respective local communities. The Dzivarasekwa project directly employs 700 people and 115 of them are women.”

NBS acting managing director Mr Lameck Danga said the project will benefit employees in the civil service, informal sector and the private sector.

“Our housing development in Dzivarasekwa is coming in various forms ranging from one room up to eight rooms and $17 000 is the floor price and the prices go up to about $40 000,” he said.

“We are catering for all Zimbabweans as NBS is a society for everyone, civil servants, those in the informal sector and the private sector. Our desire is that those benefiting should be contributors to the NSSA pension fund. The loan can be serviced over a period of 25 years.

“Our mortgage comes with an insurance product embedded in it and in the event that the owner of the house passes on before completing the payment, the family takes over the house and that’s the end of it, the insurance company will settle the difference,” said Mr Danga.