Uptake of CABS Budiriro housing project remains low due to economic environment

The managing director of CABS, Simon Hammond has revealed that only 200 houses have been purchased from the Budiriro housing project through the rent to buy scheme. The rent to by scheme was introduced after only 440 had been taken up on the initial terms. CABS in partnership with the Harare City Council constructed 2 800 houses and the scheme was launched in 2013.

Said Hammond:

Raising the initial deposit has been very difficult under the current economic environment, but through the rent to buy scheme people are able to and in that regard at least 200 families have passed the phase of renting and are now paying to purchase the house.

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Simon HammondCABSHarare City Council

Simon James Hammond is a Zimbabwean business executive and the current managing director at CABS. Read More About Simon Hammond

CABS (formerly Central African Building Society) is a building society in Zimbabwe. CABS is a subsidiary of Old Mutual Zimbabwe Limited, Zimbabwe's largest life assurance organization. Old Mutual Zimbabwe is in turn a subsidiary of Old Mutual PLC - an international financial services conglomerate. The... Read More About CABS

The Harare City Council is an administrative body tasked with providing services for residence of Harare, the capital city of Zimbabwe. Among other duties, the council is responsible for providing clean drinking water, housing and accomodation, refuse collection facilities and health services. Read More About Harare City Council

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