Government to float $150m housing bond

The government will in the next few weeks float a $150 million bond to kick start the command housing project across the country.

The plan which is being made through government housing investment vehicle, Urban Development Corporation (UDCORP) will see pension funds, insurance companies, private investors and banks taking part in the floating of the housing bonds.            

UDCORP head Mr Hashmon Matemera told the ZBC News after a presentation of the command housing that the funds are aimed at developing 470 000 housing units across the country in the next ten years.                                   

"We will do all we can to raise the required funds for the project to be a success," he said.

The government is still committed to affordable housing projects, said the Permanent Secretary in the Ministry of Local Government, Public Works and National Housing, Mr George Magosvongwe.                

"We shall do our best to honour the projects," he said.                            

Zimbabwe has in the past 20 years experienced limited housing projects due to lack of fiscal space and a challenging macroeconomic climate.