Delays in housing delivery sink BHC revenue

BHC Phakalane houses
BHC Phakalane houses

The Botswana Housing Corporation (BHC) has reported a 36 percent slump in revenue during the 2013/14 financial year, citing delays in delivering 516 housing units in Phakalane.

In its 2014 Annual Report, the public housing agency recorded revenue of P300 million as compared to P467 million recorded in the previous year. Rental income remained flat at P187 million year-on-year as the corporation focussed on selling its new property instead of leasing them.

According to management, the corporation has maintained the 11,500 threshold rental stock over the last three years, and the main strategy of selling more and renting less is meant to empower Batswana through home-ownership.

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