CITIC Construções starts building houses in Mozambique in the first half of 2020

8 October 2019

CITIC Construções is expected to begin construction of 35,000 homes in the first half of 2020, with the project at an “advanced” stage of financial structuring, according to the Minister of Public Works, Housing and Water Resources quoted by Mozambican newspaper Notícias.

João Osvaldo Machatine, speaking a few days ago in Marracuene, Maputo province, gave assurances that the work will start by June 2020, so that the last batch of houses can be delivered to beneficiaries by the end of 2024, as agreed.

The contract with the subsidiary of the Chinese state group CITIC was signed last July with the Housing Development Fund (FFH), and the company is expected to build 15,000 houses in the south, 10,000 in the centre and another 10,000 in the north of the country.

The initiative, whose financial details are unknown, was designed specifically for young people and civil servants, two social groups that have complained about difficulties in accessing housing due to high prices.

The president of the FFH, Arlindo Munguambe, said at the time that the project aims to cover all provinces, with the cost of the houses ranging between US$30,000 and US$40,000.  (Macauhub)