Shepias Dube
FBC Building Society is set to expand its housing project to Bulawayo before the end of the year as it seeks to become a major player in the provision of houses in towns.
Speaking on Wednesday, the institution’s executive director for Retail Banking and E-commerce Mr Agrippa Mugwagwa said the housing project which was already running in Harare, Kwekwe and Gweru would be extended to other towns including Bulawayo.
“In a market where the housing waiting list is reported to be in excess of 1 million, the Building Society will continue playing its part in meeting the acute demand for housing while targeting various segments of the market.
“We will soon embark on new housing projects and I want to assure the people of Bulawayo that this time you are not off the radar,” he said.
He said the building society was engaging the local city council fo land to build the houses.
FBC Building Society sales manager responsible for projects Mr Paradzai Shumba said the society was interested in developing town houses and low-income housing units.
“The decision on whether to start with town houses will be determined by where we will get the land but it is in our interest to start by constructing housing units for low-income earners as the case in Gweru and Kwekwe,” he said.
In Kwekwe the building society constructed over 100 three-bedroomed housing units in the high-density suburb of Mbizo 9 which are sold at $25 500 each.
FBC Building Society is a mortgage finance institution whose main thrust is the mobilisation of savings and the promotion of home ownership in Zimbabwe.
The Building Society is also directly involved in residential property development for all market segments from low, medium to high income groups.
Since 2009 the society has delivered over 640 housing units countrywide and continues to initiate new projects.
On-going projects include 283 medium cost housing units in Harare, 203 and 160 low-cost housing units in Gweru and Kwekwe respectively.