Business

NHA seeks $600m for urban renewal project

ESTHER MSETEKA, Lusaka
THE National Housing Authority (NHA) is seeking a sovereign guarantee from Government to enable it acquire US$600 million for the urban renewal project for the Misisi and Kuku compounds.

The firm is expected to construct 12,500 housing units in Lusaka’s Misisi and Kuku compounds to accommodate 50,000 residents.
NHA director of projects Anderson Zulu said in an interview at the ongoing 91st Agricultural and Commercial Show under the theme ‘Promoting a green economy’ that the project implementation depends on how soon the guarantee to secure project funds is in place.
Mr Zulu said Government has plans to build houses in the two compounds under a policy called Urban Renewal.
The project seeks to accommodate slum dwellers in the well-planned smaller portion of the same land while freeing up a bigger percentage of prime land for mixed development.
“The Minister of Housing and Infrastructure Development, Ronald Chitotela, is keen to see this project come to fruition, and thus he has asked us to prepare a work plan, and if all goes well, we can start to review the model next year after doing a baseline survey.
“We have engaged non-governmental organisations which will help us to sensitise the residents.Where we need help is on securing the project funds because the US$600 million is too huge – it cannot come without a guarantee,” he said.
Once a sovereign guarantee is secured, then the money will be released.
Mr Zulu said NHA will not displace residents of Misisi and Kuku compounds but that they will be required to stay in the new houses provided for 10 years before they can receive title deeds to the properties.

 

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