Access to funds for housing will be streamlined if the Housing Bill is passed into to law. Minister for Housing Soita Shitanda says once the bill is enacted, it will see the establishment of the National Housing Development Fund to facilitate the development of affordable housing through access to affordable funds.
“I have tabled the Housing Bill in parliament and by June it should become an Act. The bill proposes that 5% percent of the annual national budget be allocated to housing. This will provide additional funds for housing development, infrastructure, planning and social housing,” said Mr Shitanda.
The minister, speaking during the ground breaking of Komarock Housing Development, added that the Bill would come with regulatory instruments to instill discipline and mainstream its operations. “I have prepared the draft Environment Bill 2011, Draft Building Surveyors Bill 2011, National Building and Maintenance Policy, which will act as the regulatory mechanisms for the Housing Bill,” he said.
He urged players in the housing sector to embrace and safeguard the milestones realised in the construction industry, citing use of prefabricated boards and interlocking Stabilised Soil Blocks as cheaper and environment friendly than the preferred brick and m****r. Shitanda noted that the approval of incentives by the government will attract investment from the private sector and this will spur growth in the housing sector.