A number of innovative alternative construction methods have come to the fore following government’s implementation of its ambitious N$45-billion mass housing project.
The project will see the state construct 185 000 houses by 2030 to mitigate the current nationwide 100 000 housing units backlog.
However, most of the construction companies who tendered are facing an uphill battle when it comes to being approved for financing by the existing commercial banks, even though they offer a far lower construction cost per square metre compared to conventional building methods. They also offer significant savings in construction time.
Chris Matthee, executive officer: retail banking services at Bank Windhoek, said that each application is assessed on its own merit and the client’s ability to afford repayment of the loan.
Companies like The Living Properties, which have secured the rights to an alternative product emphasised they obtained approval from municipalities, commercial banks (Standard Bank South Africa and ABSA), the South African Bureau of Standards (SABS) and the National Home Builders Registration Council (NHBRC) within the South African market.
By Edgar Brandt
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