First Mutual Property’s 388-capacity students accommodation facility in Chinhoyi almost complete

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FIRST Mutual Property (FMP) says its 388 student’s accommodation facility near the Chinhoyi University of Technology (CUT) is now almost complete in a move set to avail cheaper accommodation for thousands of students staying off-campus.

Exorbitant rentals and poor accommodation facilities in the farming town of Chinhoyi have been a thorn in the flesh for many local students, who are often forced to pay steep rentals from their savings to secure accommodation. The available quarters off campus are overcrowded, with learners sharing spaces.

Presenting the FMP annual performance recently, board chairman, Elisha Moyo revealed that such worries will be a thing of the past for students in the Mashonaland West capital.

“The Group is a co-investor and Project Manager in constructing a 388 bed student accommodation building near the Chinhoyi University of Technology. The project is progressing well, with completion expected in H1 2024,” he said.

The company is also undertaking a number of property projects across the country like the flagship project is the Arundel Office Park extension, whose scope involves building a double storey office block with a basement, providing a lettable area of 2,616.5 square meters, which is underway.

Significant progress has been made on the project and it is nearing completion with glazing, wall and floor tiling, solar and lift installations as well as internal finishings now remaining.

In Zvishavane, the Group is also a co-investor and Project Manager in the development of mixed-use duplex clusters, three to four-storey apartments, and student hostels, with the proposed designs having been approved by Zvishavane Town Council.

The project is in three phases. Phase A, comprising six duplex flats and 20 blocks of double and triple-storey flats, is already underway and completion is targeted for September 30 this year.