Housing department and Absa join hands to provide low-cost housing

The handover of 200 houses in Olivenhoutbosch, south of Pretoria , once again demonstrate a working partnership between government and the private sector. The Minister of Housing Lindiwe Sisulu together with the ABSA bank CEO Steve Booysen handed over the first batch of the 5 400 houses to be built in the area.

The Olivenhoutboch project which is expected to be completed by March 2008, will deliver 1 200 bonded houses, 3 000 RDP's and 1 200 rentals. The project will also include building of 3 schools, 2 clinics, a park , religious facilities and industrial and commercial development.

Speaking at the event, minister of housing Lindiwe Sisulu, said government will continue to work in partnership with financial institutions to provide housing in South Africa . "Today, tomorrow, together with ABSA we will provide better shelter for our people". She also urged beneficiaries to look after their houses as they are a valuable asset.

Chief Executive of ABSA, Steve Boysen described the handover as part of a commitment by his company to assist government in delivering houses. Booysesn also announced that ABSA will make available R 26 billion towards building sustainable human settlements. "By 2010, Absa will be involved in building 100 000 homes in collaboration and consultation with the national Housing ministry, provincial governments and local governments. We will have at least one project for every province and two to three projects every metro", Booysens.