Bulawayo City Council Defends Selling Stands In Foreign Currency

Bulawayo City Council has defended the sale of residential stands in low density areas in foreign currency.

The city council told The Chronicle the move to price its stands in foreign currency was not meant to generate profit. Bulawayo City Council is selling 77 residential stands in Selborne Park in foreign currency. The stands range from a minimum of 1 575 square metres up to 2 000 square metres and have been pegged from US$26 565 with a deposit of US$9 240 required. The council’s public relations officer, Miss Bongiwe Ngwenya said the local authority had not yet released an advert regarding the sale of stands in any area in 2019. She said council approved a Special Stands Express Programme that allows for the sale of pre-sale low density stands in foreign currency. Said Ngwenya:

However, it should be noted that stands sold by the City of Bulawayo are on a cost recovery basis, meaning that they are for the land and servicing costs at no profit. The council in its meeting of the November 7, 2018, approved policy strategies to address the socio-economic environment. One of the strategies was a Special Stands Express Programme that allows for the sale of pre-sale low density stands in foreign currency.

More: Chronicle

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