GIPF invests N.dollars 17.4 million in housing development at Eenhana
26 Feb 2019 18:50pm
EENHANA, 26 FEB (NAMPA) The Government Institutions Pension Fund (GIPF) has invested N.dollars 17.4 million in housing aimed at low and medium income groups at Eenhana in the Ohangwena Region.
This was revealed by Ohangwena Governor Usko Nghaamwa in a speech read on his behalf at the official opening ceremony of the new GIPF office at the town on Tuesday.
Nghaamwa said the housing development in Extension 6 will consist of 271 houses and will greatly contribute towards the housing shortage in the region.
GIPF through its unlisted investments has been implementing some of the Harambee Prosperity Plan pillars such as social progress and infrastructure development by delivering housing and servicing land for their members, he noted.
Speaking at the same event, GIPF Board of Trustees Chairperson Goms Menette said the Eenhana housing unit development under the developer Formosa Island Investment consists of 271 erven of which 124 are serviced.
Eight-five houses in phase one and 97 houses in phase two have been sold to date.
This development came as a requirement to provide low cost and decent housing to accommodate low, middle and high-income earners, in a bid to ease land and housing shortages within the town of Eenhana, he said.
GIPF is aiming to construct 30 per cent of the 20 000 housing units envisaged under the Harambee Prosperity Plan before its period ends.