Intaka project: Standard Bank offers subsidized rates
Standard Bank signed on Monday (October 8th 2012) a Memorandum of Understanding (MoU) with the Housing Development Fund in order to facilitate financing for the purchase of houses, as part of the project to build 5.000 houses in Intaka neighbourhood, in Matola municipality.
Other commercial banks have also joined this Government initiative,which aims to contribute to the reduction of the lack of access to housing for young people.
With over 100 years of service in Mozambique, allying itself to the Intaka residential house construction project, Standard Bank proves its commitment in relation to economic and social development of the country.
Standard Bank representative Camal Daúde said “as one of the largest banks in the country, we believe it is our social obligation to join this project, with the specific task of facilitating young people’s access to housing”.
Camal Daúde, who is a member of the Executive Commission of Standard Bank, explained that “Standard Bank will offer subsidized rates to the first applicants who purchase Intaka houses and it will also put at their disposal the Bank’s extensive experience in financing of real estate projects as such”.
330 houses of various types, whose works began in July of the current year, are under construction in that municipality. The minister of Public Works and Housing, Cadmiel Muthemba, witnessed the signing of the MoU and congratulated the banks that joined the project, saying that “it is a difficult journey, but very important for the country”.
On his turn, the mayor of Matola, Arão Nhancale, said that the project will serve to extend the city and as a centre for human development in the province of Maputo.
The project includes the construction of five thousand residential houses type I, II, III and IV, in a location with access to key social services such as health, education, among others, in an investment of approximately 440 million U.S. dollars.