The Infrastructure and Development Bank of Zimbabwe (IDBZ) is making significant investments in the southern region of the country, focusing on the development of commercial and residential properties to address growing housing and service needs.
In the border town of Plumtree, the IDBZ has acquired 7.2 hectares of land to construct a mixed-use project featuring 81 residential units, a medical facility, and a preschool. The designs will align with the town's master plan, as confirmed by IDBZ's southern region manager, Mr. Saxon Makwasha.
Earlier, the IDBZ board toured the bank's Willgrove housing project, where it has invested $2.6 million to build 114 low-density residential stands ranging from 3,500 to 900 square meters. The board also visited the Esihlengweni Medical Centre in Bulawayo, where the IDBZ is leasing its property to medical service providers, as well as the Bulawayo Students Accommodation Complex.
The initial plan for Plumtree involved a solar farm, but due to the high cost of constructing a 100-kilometer transmission line to Bulawayo, the project was deemed economically unfeasible. As a result, the IDBZ pivoted to a residential and commercial development that better aligns with the town's needs.
In addition to the Plumtree project, the IDBZ has also acquired land in Filabusi for residential development, which will be incorporated into the town's master plan and central business district. Previously, the bank had partnered with a farm owner on the Filabusi land, but the landowner opted to withdraw, and the IDBZ was compensated with alternative land.
North of Bulawayo, the IDBZ plans a housing development on a 1.5-hectare plot, featuring 16 semi-detached duplexes with dedicated entertainment areas and 5kVA power systems to promote clean energy. Outside Bulawayo's central business district, the bank intends to construct a medical center and 11 duplexes along the Harare-Bulawayo Road.
IDBZ CEO, Mr. Thomas Zondo Sakala, stated that these projects signify a significant investment in Zimbabwe's southern region, with a focus on modern housing and essential services to enhance living standards and economic opportunities. The board highlighted the bank's positive collaboration with local authorities, which strengthens the potential for successful project completion.
