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Collateral scuttles housing development

Conrad Dube

RIGID collateral requirements set by financiers and a sluggish market have seriously affected land and housing development in the country, secretary for the Land and Housing Developers Associatio

n Nhamo Tutisani has said.

Tutisani said there was need for the government to also look into the issue of security to help developers access productive sector finance from the Reserve Bank of Zimbabwe (RBZ).

Land and housing developers have made representations to government for developers to access land for housing development under the government’s National Housing Delivery Programme, according to Tutisani.

“This is a realisation by the government that there is no housing development that can take place without land and housing developers and that developers are important stakeholders in housing delivery,” he said.

Tutisani said the association was working with the Housing Directors Forum which is made up of housing directors from local authorities and the Local Government and National Housing ministry for the provision of housing.

He said the partnership was expected to address the perennial housing shortage in the country.

Land and housing development, according to Tutisani, is an integrating process which demands teamwork from conception to completion.

He said the strengthening of relationships between developers and local authorities would result in the efficient provision of housing to the people.

He said the property development profession was coming out of the discovery stage therefore active and progressive minds are at liberty to define and shape it in the manner they may see fit.

“The role of developers is always mischievously confused with that of a contractor and jealously scoffed at by estate agents and yet the developer is an essential catalyst in property development,” Tutisani said.

The Land and Housing Developers Association, a grouping of land and housing developers, has drafted a Land and Housing Developers Bill which is still being considered by the drafting section in the Ministry of Justice, Legal and Parliamentary Affairs.

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