Published: 26 August 2013

Zimbabwe's largest mortgage lender, CABS Building Society, said the construction of the Budiriro housing project is underway amid plans to roll out the housing scheme in October, a company official has said.

CABS managing director Kevin Terry said efforts to finalise housing projects in Budiriro and Hatcliffe were underway, but did not disclose how much the company has invested in the project.

He said the building society had secured lines of credit and continued to seek more to finance housing projects. CABS signed a Memorandum of Understanding with Harare City Council to set up a $15 million housing fund for Budiriro that will see the construction of 3 000 housing units.

The building society said as at April this year, development projects worth $101 mln had been approved for low, medium and high cost housing projects.

He said the focus for the operational environment should be to continue to provide accessible banking services to all market segments of the economy as well as appropriately priced consumer loans.

- NewsDay

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