Business

Ndola council to build over 1,000 houses

TRYNESS MBALE, Lusaka
THE Ndola City Council and a Chinese company intend to build a commercial complex and over 1,000 houses at a cost of US$9 million.
The municipality, in partnership with Henan Guoji Industry Group Limited, will construct 1,100 houses, a shopping mall which will accommodate 30 shops and a clinic.
This is contained in an environmental and social statement (ESS) report which Henan Guoji Industry Group submitted to the Zambia Environmental Management Agency.
The council will own 20 percent shares while Henan Guoji Group will have an 80 percent stake in the venture.
“The principal objective of this project is to empower Zambians through the construction on 160 hectares of land, a total of 1,100 housing units, a medical centre and shopping mall,” the ESS statement reads in part.
The houses will then be mortgaged to Zambians through selected banks, the report reads. The project is expected to create about 1,000 jobs, with 200 specialised workers.
It is expected to be implemented end of November and is anticipated to be completed in three years.
The objective of the project is to improve access to quality housing and reduce Zambia’s accommodation deficit.

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