Chapo launches housing project

Maputo, 3 Apr (AIM) – Mozambican President Daniel Chapo on Wednesday launched a housing project to build 6,000 apartments in the Maputo neighbourhood of Costa do Sol.

The project, known as “Phoenix”, and budgeted at around two billion US dollars, is aimed at young Mozambicans. Chapo promised that the prices of the apartments will be accessible.

The project will be implemented by the Hong Kong-based Phoenix International Group, which has previous experience in African real estate, notably in Angola.

Chapo said the Angolan experience motivated the Mozambican authorities to invite Phoenix International to undertake similar projects in Mozambique, “but with still better quality, respecting engineering and environmental standards”.

In addition to the housing units, the Phoenix investment will include a shopping centre, a health centre, schools and leisure areas. The project will take two and a half years to build, and will create 25,000 direct and indirect jobs. It is already employing 1,500 workers in preparing the ground.

Chapo declared that his government is committed to promoting partnerships with private businesses to guarantee accessible housing for young Mozambicans.

This launch ceremony, he said, was for young people “from the Rovuma to the Maputo (the rivers marking the country’s northern and southern boundaries) without any kind of discrimination, regardless of their political, religious or ethnic affiliation”.

The investor, Chapo added, under its corporate social responsibility, would support the local community, particularly fishermen, by providing boats and equipment to facilitate the conservation and marketing of fisheries produce.

Mozambican banks were represented at the launch and expressed an interest in offering credit so that young people can buy houses.

Chapo promises that similar projects will be launched in other provinces over the next five years.

He gave no estimate as to how much each apartment will cost to buy or rent.
(AIM)
Pf/ (302)