Affordable Crestaco Properties offering affordable...

Affordable Crestaco Properties offering affordable housing for all

Zim Now Writer

Affordable Crestaco properties, a wholly Zimbabwean-owned company with branches in Harare, Bulawayo and Gweru has set its sights on ensuring Zimbabweans across the country access housing with a selection of schemes for urban, growth point as well as rural schemes.

ACP chief executive officer Sikumbuzo Ncube said ACP’s approach to social housing service delivery is underpinned on the concept of “pay for your stand”.

“Our main objective is to compliment government's effort in its bid to provide decent and affordable accommodation to the people. Due to its capacity Affordable Crestaco Properties is targeting to develop an average of 3 000 urban residential stands, 500 commercial stands in all cities, towns and growth points and construct decent and affordable rural homesteads for the rural people,” said Ncube.

Offering rural based housing development is a unique proposal as most institutions do not extend financial services where there is no security of tenure through title deeds. In Zimbabwe rural land belongs to the state and one only has right of occupation which can be revoked should the government deem the land better utilised for other uses. Government does pay compensation for relocation.

Ncube said that the thrust of their schemes leverages on having members subscribe and contribute financially towards site acquisitions up to site and service development.

“One can benefit from ACP schemes earlier due to the availability of completed projects,” said Ncube, adding that if one has been allocated a stand and does not have enough money to construct the house, ACP facilitates a Housing loan that is payable over five years.

Zimbabwe currently has a housing backlog of about 2 million units. Although government has embarked on a delivery vision, it is likely that as the young population matures, demand for affordable housing will continue to outstrip supply thus creating a fertile ground for ventures like Affordable Crestaco to flourish while improving lifestyle standards for those in the lower income bracket.