THE National Building Society (NBS) has earmarked US$23,8 million for ongoing and pipeline projects in 2026, stepping up efforts to expand affordable housing in Zimbabwe.
The investment will fund housing developments and supporting infrastructure, in line with the institution’s mandate to widen home ownership and stimulate activity in the construction sector.
NBS managing director Sifiso Mahlangu told businessdigest the society would prioritise projects already underway while preparing to roll out new developments.
“The society has budgeted US$23,8 million to deliver the current running projects and execute pipeline projects to ensure we satisfy expansion in housing delivery objectives as mandated by the government,” Mahlangu said.
Among the flagship projects is the Runyararo Housing Scheme in Masvingo, a joint venture between NBS, the National Social Security Authority and Masvingo City Council.
“The Runyararo project is located in Masvingo Province, and the contractor is Exodus and Company. The project is delivering low-cost serviced stands amounting to 616 at a construction cost of US$2,8 million by October 31, 2026,” Mahlangu said.
The development is targeted at low- and middle-income earners.
In Harare, NBS has allocated US$4,8 million to complete four blocks at the Glaudina Flats project, adding 128 units to ongoing works.
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“We are delivering three blocks of Glaudina Flats with a yield of 96 units by the 31st of December 2026. Most of the structural works are completed, and we are currently working on finishes at various stages and preparatory works on civils,” Mahlangu said.
“This means, cumulatively we will have delivered 160 units with an uptake to date sitting at 32 units and four blocks of Glaudina Flats with a yield of 128 units at US$4,8 million.”
To improve affordability, NBS has reduced buyer deposits to 20% from 60%, unlocking access for lower-income earners. Proceeds from early sales are being recycled to finance subsequent phases.
Beyond these projects, the society has lined up additional developments scheduled to move into execution in 2026, including the Christmas Gift Development Permit with a yield of 5 000 stands, Rangemore’s 300 four-roomed units, a Borrowdale cluster housing scheme of about 14 units, and the Newmarra project in Mutare with 153 units.
NBS is also leveraging its microfinance arm, Lenderspark Finance, to extend funding to low-income earners and small businesses in a market where mortgage uptake remains limited.
Mahlangu said the institution remained focused on delivering completed homes to beneficiaries.
“At the end of the day, we can say that we are doing very well, not only in terms of construction, but also in providing and handing over completed housing units to deserving people,” he said.
