ZB Holdings looking for land banks

ZB Holdings is in discussion with various councils throughout the country for land to venture into low-cost housing, an executive has said.

Banks are venturing into property development to raise additional income due to the subdued economic performance which has constrained banks to get the bulk of their income from interest on loans.

ZB Holdings chief executive officer Ronald Mutandagayi said the company would focus on property going forward.

He said the group does not require huge sums of money for the development of the land banks, but would have arrangements with councils.