• Mon. Apr 15th, 2024

FBC Building Society eyes mining town Hwange for new housing scheme

ByEconomic Times

Nov 7, 2022

By ETimes

FBC Building Society, a unit of financial services group FBC Holdings, says it is going to construct housing units in Hwange next year that fulfil the needs of a wide spectrum of clients, both locally and in the diaspora.

FBC Holdings has been actively involved in the residential property sector, helped by the rise in the need for housing.

But demand for residential houses, which are also thought of as assets that maintain value in the face of hyperinflation, continues to be high.

It has constructed houses in Harare, Gweru, Kwekwe, and Zvishavane.

FBC Building Society embarked on this successful state-of-the-art medium-to-high Fontaine Ridge Housing Project in Harare’s Kuwadzana suburb in its quest to provide lasting solutions to customer needs. This comes as it intensifies efforts to develop cutting-edge housing infrastructure for all market segments, from low to medium to high-income groups.

The housing project has 858 units, and each one will have a fruit tree planted as part of the entity’s efforts to create a natural environment by fostering a culture of planting trees.

This project is in two phases. The firm is currently in phase A, where it has completed about 216 housing units.

“We are yet to come up with the selling price,” said FBC Holdings Head Group Marketing Roy Nyakunuwa.

“We are still going through the construction phase for this phase. Yes, we are done with the main structures, but there are other finishes that are still to be completed. Once those are done, we will be able to come up with the total cost of the infrastructure and also the market price for the houses.”

He said there is also a lot of enthusiasm in the property market.

“So, the appetite is very huge, and people have seen the good work that has come out of this project in terms of even increasing the statistical value of this whole location on this side of town,” he said.

FBC Building Society is poised to start construction on phase 2 in the coming year of 2023, possibly by the end of the first quarter.

It is possibly going to Hwange next year as well.

“In Hwange, we are still in the planning phase. The land has been secured, but once we have the numbers after we have done the architectural designs, we will be able to then provide the numbers.”

The society also expects to complete the Zvishavane Eastlea Project, where construction of 98 cluster housing units is underway and the project is scheduled for completion by December 31, 2022.

The company has delivered more than 2,000 housing units since 2009 –Harare

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