Treasury to incentivise property developers

Published: 27 September 2017

Finance and Economic Development Minister Patrick Chinamasa said Government was looking at giving incentives for property developers willing to upgrade and set up new structures for tertiary institutions.

Minister Chinamasa said Government was cognizant of the infrastructure deficiencies at state universities and other institutions of higher learning in the country, which needed a multi-stakeholder's approach to address.

He cited halls of residence, lecture theaters, libraries, laboratories and sports facilities as key areas that require partnership between Government, financial institutions and property developers to work together to improve such.

"Our state universities and other tertiary state institutions require investment in physical infrastructure that includes staff and student accommodation, laboratories, workshops, sporting facilities and student service centres. This physical infrastructure can be sited on or off campus," said Minister Chinamasa at a recent commissioning of students complex in Bulawayo.

"As the potential investors, come forward and tell us what incentives you want for such projects then we can agree and develop infrastructure at our universities.

"It is a worthwhile investment," he said.

Minister Chinamasa added a strong infrastructural base is essential for research and conducive for effective learning.

In line with this, Government has prioritized scaling up investment in the requisite infrastructure with collaboration with the private sector to enhance infrastructure and state universities and tertiary institutions.

Largest bank by assets and deposits, CBZ Holdings won a tender to raise $2 billion for development of universities' infrastructure ranging from libraries, laboratories and student accommodation facilities.

The project currently at feasibility stage.
- bh24

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