BOPEU Launches 500 Housing Units For Members
Monkagedi Gaothobogwe | Monday November 16, 2015 15:31
To be known as BOPEU Enclave, BOPEU’s project will be a gated Estate with 24/7 security, and one, two and three bedroom apartments. There will also be a clubhouse, gym facility, swimming pool, volleyball and basketball courts as well as spacious parking for 500 cars, Motsamai explained. Motsamai told BOPEU members that his organisation has heavily subsidised the cost of the housing units, as they will be bought for twice to thrice below the market rate prices.Motsamai explained that a two-bedroom house which would usually cost in upwards of P700,000 will be going for P395 000 for BOPEU members, while a three-bedroom house, whose market price today is in upwards of P1 million, will be going for P495,000 for BOPEU members, while one-bedroom housing units will be going for P295,000.
Construction of the 500 housing units starts in earnest in January in partnership with Eman Construction, who also owns a number of properties around Gaborone.
In a glittering ceremony heavily attended by BOPEU members from various parts of the country, artistic impressions of the housing units were beamed to the multitudes via two giants screens, as Motsamai explained with the help of the videos how the housing units will look like.Motsamai announced that BancABC have agreed to come on board to process mortgage loans for BOPEU members and urged his members to hurry for this offer, which he explained is an investment of a life time.
Motsamai said the housing project was one way of rewarding their loyal members, by way of provision of affordable accommodation BOPEU has also secured yet another bigger plot in Morwa (45 hectares), just 15 minutes drive from Gaborone, which is also earmarked for housing for members. Another housing land has been secured in Francistown, a 159-hectare plot about four kilometres from Donga.
BOPEU is also developing shopping malls in Maun and Palapye respectively, after securing commercial plots found viable for this type of investment in those villages. Another 28-hectare plot on the banks of the Okavango Delta will see BOPEU investment diversifying into tourism activities. BOPEU is currently looking for partners for tourism activities for its Okavango Delta plot.
Earlier this year BOPEU invested P7.5 million by acquiring Khawa Lodge in Gantsi. Meanwhile BOPEU have announced they will be contributing P1,000 to each member who opens a savings account with the newly opened BOPEU cooperative scheme, SACCOS.
The first 10,000 BOPEU members will benefit from this initiative that will see a total of P10 million enriching the members. Since 2007 BOPEU membership has grown from 15, 000 to 31, 000 today.