Massive Low Cost Housing Scheme: Namibia
Namibia Massive Low Cost Housing Scheme The envisaged multi-billion dollar public housing programme that will see the construction of around nine thousand houses in the next three years will have no impact on FNB Namibia's revenue, CEO Ian Leyenaar has said. The housing development programme, understood to be a public private partnership between the government and institutional investors, including the country's biggest pension fund, GIPF, will see the servicing of municipal land, and the construction of low-cost housing in the country's informal settlements. About N$1.9 billion has already been allocated to the Ministry of Regional, Local Government, Housing and Rural Development for the 2013/14 financial year to cater for, among others, the servicing of land and improved sanitary standards in urban, peri-urban and rural areas while N$5.8 billion in total will be allocated over the Medium Term Expenditure Framework. Welcoming the move as a positive step, Leyenaar to...