ZPDC in housing talks

Eastville City, a subsidiary of the Zimbabwe Property Development Corporation last week said it was negotiating with at least four financial institutions for funds to construct houses in Mutare’s low density border area.

The area is located about seven kilometres from the city centre towards the Forbes Border Post.

ZPDC general manager, Richard Desha, said talks were underway for the financial institutions to also fund the construction of various structures at the site. He said ZPDC was exploring various means of securing finance for the housing project.

“We are looking at using market-based structures to accelerate development,” he said, adding the company was also considering issuing bonds to raise funds.

Under the project, a portion of land has been set aside for the construction of medium and low-density residential houses. The sizes of the stands range between 400 and 1 000 square metres.

Eastville Park, which has potential to become a regional hub when completed, will offer factory shells, entertainment centres and a specialised regional hospital.

Post published in: News

Leave a Reply

Your email address will not be published. Required fields are marked *