The Sunday Mail
Africa Moyo
HOMELINK (Private) Limited has so far raised US$7 million of the US$50 million that is being sought to finance the construction of more than 30 500 housing units countrywide. The company, which is a subsidiary of the Reserve Bank of Zimbabwe (RBZ), announced last year that it would seek to raise US$50 million through local and diaspora bonds in the three years through 2018.
Homelink has four strategic business units — Proplink, Easylink, Masterlink and Investlink.
Proplink — the property division — is considered as the flagship venture.
Last week, Homelink’s chief executive officer Mrs Stellamaris Chorwira said the projects have already begun.
“Funding raised from the third quarter of 2015 to date amounts to $7 million and more funds will be raised.
“The funding model adopted is project specific, hence if any land is acquired, our partners stand ready to invest in any viable project,” said Mrs Chorwira.
Eighty-one stands have since been serviced in Tynwald, Harare; while 137 stands in Parklands, Bulawayo, have also been serviced.
The sale of the Tynwald stands, which started in December last year, is reportedly progressing very well.
“The loan tenure for stands is three to five years.
‘‘Some customers are already constructing their houses as all council requirements have been met. We are working on the electrification of the Tynwald site.
“The diaspora’s responses have been very positive and a number have taken up stands in Tynwald. Model houses will be built in Tynwald for clients to choose from, besides them using their own plans,” said Mrs Chorwira.
Proplink has since engaged Government for more land for its planned projects.
It is envisaged that the provision of more land will result in the construction and development of more housing units around the country.
About 70 percent of the housing units to be constructed will be sold to Zimbabweans who are based outside the country, while 30 percent will be reserved for locals.
Of the US$50 million that the company intends to raise; US$10 million will be used for the construction of 181 flats in Tynwald, US$12 million for 132 Marlborough flats, US$8 million for 190 flats in Parklands, and US$20 million will be used for the remaining housing units around the country.
Construction of shopping malls is also being considered.
Through Zim-Asset, an economic blueprint guiding economic development through 2018, Government set itself a target of delivering 313 000 low-cost housing units.
The national housing backlog currently stands at more than 1,25 million.
Apart from Proplink, Masterlink Capital Services, which provides short-term productive loans and school fees loans for interest rates that are as low as 3 percent, has also been registering positive growth.
The unit is also considering developing products for the informal sector.
