NSSA completes St Tropez Apartment renovation

The National Social Security Authority (NSSA) has completed the refurbishment of its St Tropez Apartments in the capital Harare, and converted into an AirBnB facility.

This project signifies NSSA’s resolve to improve the welfare of Zimbabweans whilst engaging in prudent investments to grow its fund for the benefit of pensioners.

Officiating at the commissioning of the refurbished apartments, Minister of Public Service, Labour and Social Welfare, Professor Paul Mavima, applauded NSSA for its investments into the real estate sector, which he said would help hedge against inflationary pressures while bringing good returns for the fund and pensioners.

“Projects of this nature are a symbol of hope, of total renewal and clear sign of NSSA’s commitment towards investing in what matters most.

“Participation in investments of this nature will provide inflation proof. The authority is embracing its huge responsibility of creating viable investments, guided by the fundamental objective of growing its fund to pay pensioners,” said Prof Mavima.

He added infrastructure projects that address housing needs of Zimbabweans, which the Authority is engaged in also feeds into the aspirations of Vision 2030 and National Development Strategy (NDS1).

Prof Mavima said attaining Vision 2030 and NDS1 aspirations evolved around providing human settlements, of modern standards, which also meet the aspirations of Zimbabweans. As such, it was also imperative for the authority to look at some of its land banks in upmarket areas and monetise them by developing them into projects that give high returns to the fund.

Other projects under the authority include Glaudina, which boasts 735 stands and another development in Borrowdale. The Authority is also working on the Liberation City Mall and the Makoni Shopping Mall.

Speaking during the same event, NSSA chairman Dr Emmanuel Fundira, said the various projects underway helped the authority move towards its direction of providing world class social security protection and shelter to all.

“This is a project which is purely an investment project to bring returns to the NSSA returns,” he said.

“St Tropez is one of the add on housing projects that NSSA is involved in,” said Dr Fundira adding that together with subsidiary National Building Society (NBS), the authority would also focus on low-cost housing to address one of the key challenges that Zimbabweans face.

The St Tropez apartments comprise 38 by two-bedroomed and 22 by one-bedroomed block of flats conveniently located within 5km of the central business district.

The property is strategically positioned along Samora Machel Avenue, next to a major golf course in Eastlea.

It is also in the vicinity of a site earmarked for the development of a five-star international hotel and shopping mall.-ebusinessweekly