Posted by Property News Namibia on 14 Mar 19
The Swakopmund Municipality has availed land for the planned construction of 1590 social and debt-financed houses at the coastal town, to ease the housing shortage.
The municipality has already identified and availed serviced land to 39 small contractors and went on tender for the supply of building materials.
About 40% of the houses will be debt-financed and the remaining 60% will be social houses under the Build Together programme waiting list. The cost of the credit-financed houses will range between N$200 000 and N$500 000. Marketing and Communication Officer of the Swakopmund Municipality, Aili Gebhardt, this week told New Era that council came up with the initiative after experiencing challenges with the Build Together programme. “We realised that some loan recipients under the programme had incomplete houses as the funds were not fully used for its purpose.
This time around, we signed contracts with the recipients and instead of getting a loan, they will get the keys of complete houses which they in turn will be responsible to pay off,” she said.
According to her, each of the contractors will build 40 houses under the initiative. They will each construct 16-credit link houses and 24 social houses.
Applicants will have to obtain financing from any financial institutions.
The construction of the credit link houses will kick off as soon as possible. The council is currently busy signing contracts with Build-Together recipients so that the construction of the social houses also start.
The contractors contracted to build the houses are, Magnetize Investments, Bay Engineering and Construction, Alfresco Developers, Matutura Investment, Hadago Investments, Guther’s Maintenance, Namibia Property Group, Haler Investments, Kashona Properties, PD Bricks & Property, Ongoshi Trading Investment, Selkan Enterprise, Trencon Pty Ltd, Versatile Trading, Oiputa Investment, Yoshi Trading, Pewa Business Solutions, JDVK Trading Enterprises, Delta Group Holdings, NCO Investments Number Eight, Ehangano Building Construction, Life House One Investment, Dalt Investment, Kenneth Investment ,Embamba Investments and Dappa Estates.
IMAGE: Artist impression only
SOURCE: Construction Review Online & New era