9 000 housing, commercial stands for Bulawayo

PROPERTY development and management firm, Radar Holdings Limited, has initiated a project to service close to 9 000 residential and commercial stands in Bulawayo as part of private sector efforts to complement the Government in provision of decent housing.

Access to affordable and decent accommodation is critical component of the Government's vision to create an upper middle-income economy by 2030.

The launch of the Zimbabwe National Human Settlement Policy by President Mnangagwa last year in September set the tone for the Ministry of National Housing and Social Amenities to operationalise the policy in partnership with the private sector.

In a presentation during the Africa Infrastructure and Construction Conference held in Bulawayo last Friday, Radar Holdings Limited said it has set in motion a project called ‘Kings City' aimed at reducing the housing backlog in Bulawayo.

"Bulawayo is battling a housing backlog of 120 000 and Kings City seeks to help in reducing the housing shortage in accordance with Government's economic blueprint, NDS 1," Radar Holdings' finance director, Mr Walter Zimunya, told delegates.

"Kings City, is a 2 100-hectare premium mixed-use development in Bulawayo, about 8km outside of Bulawayo City Centre. The project will see up to 9 000 residential stands available to the market, augmented with up to 430 light industrial stands, several shopping centres, and 14 private schools, hospitals and other facilities."

Mr Zimunya said they have already started selling a complement of up to 500 fully serviced low-density residential stands whose size ranges from 2 000 to 4 000 square metres.

"In 2023, a further 900 stands will be released with the sizes ranging from 600-1 500 square metres. The high development standards in Kings City remain a key driving factor in their value proposition," he said.

"The outlook is to continue to create a new standard for real estate in the country that matches international criteria and competes at the same level, which in turn assures investors and customers alike high property values and long term returns regardless of their reason for purchase."

Mr Zimunya appealed to local authorities and central Government to support land developers in the country towards unlocking more housing development opportunities in the country.

Another local company, Neddicky Industries Private Limited, also vowed to play its part in support of robust housing development in the city. Sales administrator, Ms Kiletetsoi Dube, said their company has come up with flexible payment model for clients engaged on housing projects.

"If we are doing a project for you, we give you a timeframe to pay. We also work with people in the Diaspora and we are contributing to the community through backing Government initiatives in provision of housing to the nation," she said.

Neddicky produces a range of concrete products and is headquartered in Bulawayo with a branch in Gwanda.

Zimbabwe has a national housing backlog of around 1,5 million units and targets to deliver 1,2 million units by 2030 and part of the vision is to change the face of Zimbabwe by building modern houses that are sustainable and environment friendly.

The Government has set a target to deliver 220 000 housing units by 2025 leveraging on partnerships with the private sector and new technologies in the human settlement sector.

Radar Properties has been nominated for the Five Star award and the Global Leg of the awards to take place at the House of Lords in London in January 2023.