Financial services provider, FBC Building Society (FBCBS), has commenced work on its Fontaine Ridge project in Harare’s Kuwadzana suburb that should deliver over 800 housing units.
The first phase of the project, which has already started comprise of 150 housing units. By December 2021, a total of 269 houses should be completed under the first phase.
According to the banking firm, the whole project factors in modern trends in housing development in line with global standards such as WiFi connectivity, in addition to the usual required infrastructure like surfaced roads, electricity, water and sewer reticulation. Each unit will have a 5,000 litre water tank and a booster pump.
“Upon completion the project will comprise a total of 858 housing units which will add to new housing stock to the city. The project is a medium to high density project with the average stand size averaging 200 square metres,” said FBCBS chairman Ben Kumalo during the official launch of the project held recently.
He indicated the Building Society was cognizant of the housing backlog in the country estimated at over two million and as such will continue collaborating with local authorities and Government in housing delivery, factoring environmental friendly developments.
“As FBC Building Society we look forward to working with City of Harare and Central Government to deliver more housing units nationwide.
“FBC Building Society is going green and is promoting sustainability of the environment that we live in line with our new vision to nurture sustainable solutions that enable the financial wellbeing of the communities we serve.
“In this regard solar geysers will be fitted on each unit and trees also planted on each unit. This project has been expertly developed in a very contemporary manner, taking into consideration environmental friendly global trends in housing development.
“The units are trendy, compact with modern designs and will be fully completed, will be a mixture of two and three bedrooms with bias on three bed roomed units,” said Kumalo.
Also speaking at the launch, State and Devolution Affairs Minister Oliver Chidawu, applauded FBCBS for the housing developments saying they were in line with Government’s plans to deliver affordable housing across the country.
He said: “FBC Building Society’s property development efforts dovetails with Vision 2030 that aims to provide high quality, modern and affordable housing solutions in urban and rural areas as espoused by His Excellency, the President of the Republic of Zimbabwe, E.D Mnangagwa.
“As a matter of fact, the delivery of high quality and reasonably priced housing solutions for the majority of low and medium income citizens cannot be the sole responsibility of either the Government or Local authorities.
“It must be a collective responsibility of private and public sector players in order to spearhead resourceful, agile, efficient and affordable housing development projects that address the housing needs of the growing urban population.”
Since 2009, FBCBS has developed over 2000 housing units across the country catering for various markets.