Banks shun Mkoba 21 project

Banks have shunned developing housing stands in the new Mkoba 21 housing scheme in Gweru, council officials have said, adding that they would engage other private developers.

Gweru mayor Hamutendi Kombayi

The project has 6 900 residential stands with 1 000 reserved for workers at the local authority.

“In that case we should continue to make open the project to other private developers to service the stands to make it successful,” mayor Hamutendi Kombayi said at a full council meeting.

“We should continue mobilising partners to develop these stands since we can’t do it alone because of our financial position as a local authority.”

Council intends to offer private developers land to service stands and sell them at affordable prices while the municipality services a few stands.

The cash-strapped local authority is finding it difficult to complete other pending projects like sewer rehabilitation, pothole patching and installing solar traffic lights among others.

The stands, which were advertised early this year are still up for grabs as the economic crunch particularly among the low-income earning class continues to bite.

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A report released by the city’s housing and community service department early this year showed that council was forced to slash prices of Northlea low-density suburb following massive resistance triggered by a $2 per square metre price hike.The council had increased the prices to $5 per square metre from $3.

“It appears the new prices are scaring away buyers as and when they come to inquire,” council noted then.- Southern Eye