Overview
CBZ Bank in its thrust to deliver houses/stands has embarked on a number of low cost housing projects as follows:
- Gateway City Mutare:
- These are low density residential stands with whose sizes range between 1,531m² to 3,846m².
- The stands are located 7km to the South East of Mutare CBD.
- They are fully serviced and ready for title.
- They are being sold at $22/m2 exclusive of 15% VAT.
- The stands can be purchased with cash, mortgage loan or 6 months’ installment options.
- Mtausi Park Gweru– Serviced low density residential stands with an average size of 2,000m2 with an asking price of US$13 / m2. The development is 6km from Midlands State University.
- Mbizo 21 Kwekwe – Serviced high density residential stands with an average size of 200m2with an asking price of US$27 / m2.
- Musha/Umuzi Housing Investment Account :
- The product targets individual clients, mainly in the informal sector, who often struggle to demonstrate sources of income to be considered for normal mortgage facilities. It allows aspiring property owners to save for their property over time in a secure investment product and earn interest. The product is available for clients who are interested in purchasing stands and houses from the bank’s property stock that is Mtausi Park Gweru, Mbizo 21 Kwekwe, and Gateway City Mutare.
- Features
- Reservation savings account for CBZ bank projects.
- The investment earns an interest of 1% per annum.
- Minimum initial deposit – 5% for Low-density suburbs & 10% for High-density suburbs
- Balance to be paid over 6-24 months.
- Agreement of sale upon full purchase price.