Building boom slows down


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The building boom that Bulawayo experienced in the first four months of the year seems to be slowing down as inflation continues to take its toll.

The value of building plans approved in the city increased from $33 billion in January to $87.2 billion in April before slowing down to $49 billion in May and rising slightly to $56.9 billion in June.

The council approved plans valued at a total of $265.9 billion in the first half of this year compared to a total of $29.5 billion during the same period last year but inflation soared by more than 1 100 percent during that period.

Construction now seems to be confined to new projects in Cowdray Park, the home of Operation Hlalani Kuhle, but this is largely driven by individuals and companies. The government built only 700 houses but allocated more than 3 000 stands to individuals and companies.

Some 182 plans worth $22.7 billion were approved in Cowdray Park alone in June out of a total of 227.

The second largest contributor was Ward 4, which includes Whitestone, Matsheumhlope and Selbourne Park. Eighteen plans valued at $16.3 billion were approved in this ward.

 

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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