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Housing

Government Partners with Private Sector to Fast-Track Housing Projects

Strategic Insights

— 1 min read

The Zimbabwean government, under the leadership of Finance Minister Professor Mthuli Ncube, has reaffirmed its commitment to partnering with private sector players to accelerate housing development nationwide. This initiative aims to promote social stability and economic growth in line with the national development agenda. The partnership has already yielded positive results, with the Infrastructure Development Bank of Zimbabwe (IDBZ) delivering 336 apartments since 2006 through the Waneka Phase Three project.

Key Takeaways:

  • The IDBZ has a housing pipeline with several thousand housing units and student beds nationwide, worth hundreds of millions of US dollars.
  • The IDBZ is acting as a catalyst for public-private partnerships (PPPs), bringing together local authorities, government ministries, private developers, financiers, and contractors.
  • The government will continue to adopt models that guarantee continuity in housing construction, aligning with the National Development Strategy (NDS) 2.
  • The IDBZ has delivered 288 units in previous phases, contributing significantly to the reduction of the housing backlog.
  • Housing development is expected to drive growth, attract investment, and contribute to inclusive growth under the National Development Strategy 2.
  • The government is calling upon players from all sectors of the economy to participate in the housing sector development.
  • The Waneka Phase Three project has 39 units already sold out, with only a few remaining, demonstrating a huge appetite for accommodation in Zimbabwe.

Statistics:

  • 336 apartments have been delivered by the IDBZ since 2006.
  • The IDBZ has a housing pipeline with several thousand housing units and student beds nationwide.
  • The project portfolio of the IDBZ is worth hundreds of millions of US dollars.
  • 288 units have been delivered by the IDBZ in previous phases.
  • 39 units out of 48 have already been sold out in the Waneka Phase Three project.

Sources:

  • Professor Mthuli Ncube, Finance, Economic Development and Investment Promotion Minister
  • Infrastructure Development Bank of Zimbabwe (IDBZ)
  • Housing and Social Amenities Minister Zhemu Soda
  • Dr Kupukile Mlambo, IDBZ chairman

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