In response to the Namibian government's efforts to alleviate the housing shortage and reducing the housing backlog, Bank Windhoek has announced that it will offer financing to potential buyers of PolyCare houses.
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.
Estimated to cost between N$250 000 and N$350,000, PolyCare houses are constructed without having to use water. Erected on dry ground without a dug foundation, a house can be built within ten working days. PolyCare houses are built with a simple building technique that is quicker and cheaper, yet still produces a finished building structure far greater structural integrity than its traditional counterpart of brick and mortar based houses.
This ground breaking environmentally friendly initiative, backed by 21st century research, was initiated by PolyCare Research and Technologies, who 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, 20 kilometres outside Windhoek.
“Once a customer receives an approved home loan from Bank Windhoek, we will then design and build the house according to the customer's specifications," said Polycare Namibia's Director, Nico Badenhorst.
Bank Windhoek's Executive Officer of Marketing and Corporate Communication Services, Jacquiline Pack, said: “Bank Windhoek is a responsible corporate citizen and a connecter of positive change in Namibian communities. This is a powerful initiative because it supports the strategic drivers of the Bank in areas of sustainability, partnering with our customers to advance their businesses interests and impacting the lives of ordinary Namibians."
The 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. “The polymer concrete used during this process, is stronger than conventional concrete and more resilient than its counterpart," said Badenhorst.
This building material was originally invented over 60 years ago. It consists of dry, mineral raw materials bound together with a mixture of reactive resins and hardeners. It also allows inexpensive filler material, such as desert sand and waste such as fly-ash from power stations to be used as components in the polymer concrete for general building construction purposes.
The PolyCare houses consist of manufactured precision engineered building blocks that are constructed on-site a building location. Designed with notches on the bottom, bonnets on the top and interlocking sections at the sides, these stones fit almost seamlessly together. By simply plugging them together they bond to an extremely high stability level.
Pack concluded that subject to the normal credit requirements, Bank Windhoek has committed itself to be part of the housing shortage solution by providing financial assistance to potential homeowners in low-income groups.
Prospective customers can contact Bank Windhoek's Property Finance Branch at Tel: (061) 299 0500 or visit any nearest Bank Windhoek Branch for more information and terms and conditions related to this offer.