IDBZ launches Mabuto Villas

MABUTO Villas, a luxurious housing development in the medium-density suburb of Hatfield in Harare has been launched with over 50 percent of its premium units already sold out.

Funded by the Infrastructure and Development Bank of Zimbabwe (IDBZ) to the tune of approximately US$1 million and developed by Amtrust Construction, a renowned property development company, the project is now 80 percent complete.

The unique structure of this housing project involves a partnership between the developer and the landowner.

Amtrust owns 10 housing units, sharing a 50 percent stake with the landowner.

The remaining units are owned by the IDBZ.

Each of the 20 units at Mabuto Villas has been meticulously designed with the modern family in mind.

The architecture seamlessly blends functionality with contemporary aesthetics, resulting in homes that are not only comfortable and energy-efficient but also stylish and sophisticated.

The three-bedroom units are tailored to the evolving needs of growing families, while the surrounding infrastructure fosters a strong sense of community, security, and accessibility.

IDBZ’s three-bedroom units are priced at US$152 250 each and can be purchased on flexible terms, the bank’s director–infrastructure projects Reggie Dangarembwa said during a presentation at the launch last Friday.

He said a 15 percent deposit was required upfront, with the balance payable over 36 months at an interest rate of 18 percent per annum.

Addressing the audience at the launch, IDBZ chairman, Dr Kupikile Mlambo, emphasised the bank’s dedication to providing sustainable and high-quality housing solutions for Zimbabweans.

The unveiling of 20 contemporary, three-bedroom homes represent a tangible realisation of this commitment.

Dr Mlambo underscored the IDBZ’s long-held vision of a comprehensive and dynamic housing sector that caters to the varied needs of the nation and contributes to the achievement of both Vision 2030 and National Development Strategy 1.

“The Infrastructure Development Bank of Zimbabwe recognises the importance of access to quality, equitable and inclusive housing in the attainment of Vision 2030,” said Dr Mlambo.

“This project, though modest in scale, reflects a much larger vision. Mabuto Villas is more than just a residential development; it is an embodiment of how strategic partnerships between public and private sectors can foster community growth, stimulate economic progress, and positively impact lives.

“The project has had spillover effects that include stimulating the economy, employment creation and indeed changing the face of the neighborhood.”

He added that the launch of Mabuto Villas had created both housing and economic opportunities.

“The development and construction of these homes have created numerous jobs, empowered local businesses, and invigorated the economy,” he said.

“By fostering partnerships like this, IDBZ is not only contributing to the immediate housing needs but also supporting long-term economic resilience, job creation, and wealth building in the communities we serve.”

IDBZ has been actively acquiring significant parcels of land across Zimbabwe to fuel its ambitious housing development projects.

These initiatives aim to address the country’s pressing need for affordable and modern housing solutions, particularly in urban and peri-urban areas.

IDBZ’s land acquisition strategy is driven by its commitment to supporting sustainable urban development and improving the quality of life for Zimbabweans.

By securing strategic landholdings, the bank is well-positioned to develop mixed-use projects that incorporate residential, commercial, and industrial components.

These developments will not only provide much-needed housing but also stimulate economic growth and create employment opportunities.

IDBZ functions as an institution that contributes to creating an enabling environment for successful development projects throughout the country.

Previously, the bank has been involved in infrastructure projects in sectors such as energy, transport and water and sanitation.

To reflect its broader mandate encompassing all economic sectors, the Infrastructure Development Bank of Zimbabwe has been renamed the Infrastructure and Development Bank of Zimbabwe to allow the bank to play a more comprehensive role in driving economic development.-ebsinessweekl