Namibia to construct 1,590 social and debt-financed houses

Posted on 14th March 2019

Namibia to construct 1,590 social and debt-financed houses
Image courtesy of: https://www.namibian.com.na/public/uploads/images/5294214d7b2b1/1img_7909-2511wk%20-28.jpg

According to *Constructionreviewonline news report, the government of Namibia has availed land that will pave way for start of construction of 1590 social and debt-financed houses at the coastal town, to ease the housing shortage at the town.

According to Marketing and Communication Officer of the Swakopmund Municipality, Aili Gebhardt, the Municipality has issued the the serviced land to 39 small contractors and issued out tender for the supply of building materials. Each contractor will build  40 houses, 16 being credit link houses and 24 social houses.

Build Together programme

60% of the houses will be under the Build Together programme while the remaining 40% will be debt-financed. The cost of the credit-financed houses will range between US $13,000 and US $35,000.

“We have 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. Applicants will have to obtain financing from any financial institutions.,” said  Aili Gebhardt.

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.

*News source: https://constructionreviewonli...

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