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Local banks heeds to government’s call to assist in housing shortage and backlog

Local banks heeds to government’s call to assist in housing shortage and backlog

Bank Windhoek will offer financing to potential buyers of PolyCare houses in response to the government’s efforts to alleviate the housing shortage and reducing the housing backlog.

PolyCare houses are aimed at medium to low-income individuals or families, who are unable to afford conventional housing at current market prices and interest rates.

Nico Badenhorst, Director at PolyCare Namibia said once a customer receives an approved home loan from Bank Windhoek they will then design and build the house according to the customer’s specifications.

“PolyCare material production process is based on automated and computerised mixing, after filling the precision engineered moulds with polymer concrete, the material settles in a few hours to full strength, therefore the polymer concrete used during this process is stronger than conventional concrete and more resilient than its counterpart,” explained Badenhorst.

Jacquiline Pack, Executive Officer of Marketing and Corporate Communication Services said this is a powerful initiative because it supports the strategic drivers of the Bank in areas of sustainability, partnering with their customers to advance their businesses interests and impacting the lives of ordinary Namibians. “We have committed ourselves to be part of the housing shortage solution by providing financial assistance to potential home owners in low income groups,” she added.

PolyCare Research and Technologies, have teamed up with local construction companies, Namibbeton and KL Construction, in partnership with Guinas Investment to construct the houses. The local companies own the majority stake in the Bank Windhoek supported PolyCare Research Technology Namibia Factory, situated in Brakwater.

PolyCare houses are estimated to cost between N$250,000 and N$350,000 and are constructed without having to use water. They are erected on dry ground without a dug foundation, a house can be build within ten working days.

PolyCare houses are build with a simple building technique that is quicker and cheaper, yet still produces a finished building structure far greater structural integrity than its traditional counter part of brick and mortar based houses.


 

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