Investors propose turnkey housing project
Isaac Pinielo | Friday November 28, 2014 16:56
The investors, representing the FAR Property Group, a local property development and services group together with Imision, a South African international technology company, unveiled their plans at a meeting hosted by the Ministry of Trade and Industry this week.
During the meeting, FAR Property Group and Imision proposed the development of 1,700 houses for civil servants and a further 1,500 student housing in the country.
Director of Imision, Stephen de Blanche stated that housing for civil servants, public workers and other members of society was top priority for African governments. He said this was a strategic initiative for organisations like Botswana Housing Corporation (BHC), which plans to deliver 29,000 homes by 2016. “Subject to a full guarantee from the government, FAR Properties and partners are willing to design, fund, build, operate and transfer 1,700 houses – 100 in each district – to the civil servants of Botswana,” he said.
He stated that a national team led by the Minister of Lands and Housing, representatives of the civil servant unions, assisted by reputable local and international architects, would define and agree on the specifications of two and three bedroom houses, maisonettes, bungalows and flats.
Blanche further said government and civil servant unions would provide land and agree or specify where the houses must be built, adding that FAR Properties and Imision would deliver the houses and supporting infrastructure via an accelerated delivery programme.
“Qualifying occupants will be given a 15 to 20 year residential mortgage where repayment is via direct debit from their salaries. Government would rent the balance of the houses for its staffs,” he said. Blanche also explained that both the Botswana International University of Science and Technology (BIUST) and the Botswana College of Agriculture (BCA), which is now being turned into a university, are in need of urgent accommodation for its student communities.
He stressed that FAR properties and partners were willing to develop 1,500 student accommodation units, 1,000 of which are for BIUST and 500 for the BCA.
He said the units would be rented out to BIUST and BCA on a rent-to-own basis, adding that rental stream would be fully guaranteed by government.
“This would include both housing for the civil servant community as well as student accommodation. Botswana can be a pilot country with the objective to roll it out in whole Southern African countries,” said Blanche.
He also explained that their approach would ensure the delivery of complete community eco-systems that would include access to core services which include schooling, healthcare and retail outlets.