Mutapa Investment Fund (MIF) subsidiary, Homelink Pvt Limited, launched a US$30 million housing development project in Zvimba district on Friday last week.
Speaking at the groundbreaking ceremony, Homelink managing director, Dr Tawanda Matembo, said the Homelink Estates housing project would be developed on a large tract of land covering more than 243 hectares.
“Homelink Estates is a mixed development with a total of 972 stands, broken down into 966 residential stands, three stands for schools (one secondary and two primary), two stands for creches, and one stand for a shopping centre,” Dr Matembo explained.
He said the project would be implemented in phases over a period of two years.
The first phase will focus on servicing 237 medium-density plots, each averaging 1 250 square metres, as well as constructing two foundational layers, access roads with a double steel bituminous surface, a storm water drainage system, and a water distribution system.
“Sewer reticulation at the medium-density stands will be by septic tanks and soakaways,” added Dr Matembo.
MIF chief executive officer Dr John Mangudya said at the groundbreaking ceremony that the Homelink Estates project would not only provide housing for 936 members but would also contribute to GDP growth and create 500 jobs during construction.
He estimated the project would generate approximately US$15 million in economic activity.
The guest of honour, Minister of National Housing and Social Amenities, Zhemu Soda, emphasised the collective responsibility of housing development and the need for a multi-stakeholder approach to address the national housing backlog, which currently stands at around 2 million units.
“The National Development Strategy 1 (NDS1) has set the revised housing delivery target of 1 million housing units to be achieved by 2025,” Minister Soda added. “This is not solely a Government target but a collective effort from all housing delivery entities like Homelink Private Limited.”
Dr Matembo announced that the first 100 customers who purchase stands under the Phase 1 project will receive a discount.
“While the price of our 1 200 square metre stands is pegged at US$30 per square metre excluding VAT, we are offering the first 100 stands at a discounted price of US$25 per square metre excluding VAT,” he said.
Homelink prides itself on its ability to fulfil all regulatory requirements and standards necessary for obtaining relevant compliance certificates in property development. Title deeds will be issued promptly once the required certificates are obtained, allowing customers to secure legal ownership of their units.
The company has successfully completed several projects, including the construction of 25 houses in Prospect Waterfall, 120 houses in Westgate, 205 stands in Tynwald, 137 stands in Parklands, Bulawayo, 115 stands in Norton, and 329 housing units in Brockdale, Bindura.
