THE Government has received more than US$4 billion in pledges from prospective investors seeking partnership in the housing infrastructure development sector.
Housing and Infrastructure Development Minister Ronald Chitotela said a Chinese company, Amer International Group, had pledged to invest $3 billion, while Magcor Zambia Holdings Limited, run by people from the United States (US), had pledged $1 billion to help the Government alleviate the national housing deficit.
Mr Chitotela said in an interview yesterday that the Government had embarked on a programme to address the national housing deficit, which currently stands at 1.5 million, through the Public Private Partnership (PPP) mode.
In this vein, the National Housing Authority (NHA) has been selected as the vehicle to drive the ‘urban renewal policy’ to be rolled out countrywide beginning this year.
“In the quest to address the national housing deficit, we have devised the urban renewal policy where we will work with the private sector to build houses for our people.
“We have received numerous offers from the private sector, among them, Amer International of China, which has offered a capital investment of $3 billion, while Magcor of the Americans is putting $1 billion on the table,” Mr Chitotela said.
He said citizens would be afforded an opportunity to buy the houses at an affordable cost, and that it was the desire of the Government to see both public and private sector employees owning a house by the time of retirement.