By MAIMBOLWA MULIKELELA –

THE Zambia Development Agency (ZDA) and China’s Henan Guoji Company Limited have invested US$16 million to construct 429 housing units at the Silverest Garden Housing Complex in Chongwe.
The company has to date sold 272 houses at the housing complex in Chongwe District. The housing units included 230 completed units, 249 units and commercial facilities that were yet to be completed.
ZDA signed a joint venture agreement with Henan Guoji in August 2011 to facilitate the construction of infrastructure development.
Henan Guoji sales supervisor Windy Shen said the figure included a completed road network, drainage system, water and sewerage system, and financial costs.
Ms Shen said that during a tour of the facility that discussions were also underway with Shoprite among others to setup commercial facilities.
Similar talks were also arranged with the Ndola City Council for the construction of another housing unit on the Copperbelt.
ZDA director general Patrick Chisanga said the collaboration with Henan Guoji was a manifestation of the private sector working with the Government to promote growth and development of the country through the promotion of investment and business opportunities.
This was aimed at creating new and productive investments that could bring about wealth and job creation for the people of Zambia.
Mr Chisanga said the ZDA was a critical vehicle in providing the platform for investment and development in Zambia.
According to findings by Habitat for Humanity, a minimum of 150,000 houses needed to be built in Zambia annually to meet a housing deficit of 1.3 million in the urban location and 1.5 million in the rural area.
He said the housing deficit presented an opportunity for investment and called on local and foreign investors to exploit the opportunity by developing low, medium and high cost houses.
“The Government through Statutory Instrument No.17 of the ZDA Act has prioritised housing unit development in specified locations and has provided incentives for developers. We aim to establish and facilitate various partnerships and investment to address the current national housing deficit and promote real estate and property development,” he said.