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NSSA Spends US$2 Million On St Tropez Property Rehabilitation

1 year agoSun, 27 Aug 2023 06:50:02 GMT

NSSA Spends US$2 Million On St Tropez Property Rehabilitation

The National Social Security Authority (NSSA) has spent more than US$2 million to renovate St Tropez apartments in Estlea, Harare.

St Tropez is located along Samora Machel Avenue and has 60 units comprising 22 one-bedroomed and 38 two-bedroomed apartments.

Speaking to Business Times on the sidelines of a ceremony to officially open the apartments recently, NSSA general manager Charles Shava said:

The [US$2 million] refurbishment is a complete face-lift to this community and to our capital city, Harare.
The flats will now be operated by a corporate tenant Urban Vision as a self-catering apartment hotel offering a bed and breakfast.
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Their convenient proximity to the city centre is an added advantage for the occupancy.

NSSA Chairman Emmanuel Fundira said the St Tropez apartment will have a social impact in terms of providing decent accommodation. He said:

The St Tropez apartments add a new dimension to the housing projects that NSSA is involved in.
Traditionally, NSSA, together with its wholly owned subsidiary, NBS, has focused on low-cost houses in line with its social security mandate.
The objective of this strategy is to maximise the number of people that would benefit from the units constructed.
Units, such as the St Tropez apartments, are purely an investment decision that is expected to yield good returns for the sustainability of the NSSA fund.
In the same vein, this investment is therefore a win-win as it has a social impact in terms of providing decent accommodation.

Fundira said such investments will help beneficiaries such as pensioners, orphans, and other disadvantaged people covered by Authority schemes get better payouts.

According to Business Times, the flats were acquired in 1985 for the Worker’s Compensation Insurance Fund (WCIF) under the then Ministry of Labour.

They were later inherited by NSSA in 1994.

In 1999, NSSA attempted to sell the property on the open market but faced objections from the residents.

The case eventually spilled to the Supreme Court which in June 2016 ruled in favour of NSSA and granted it an order to evict the tenants.

The protracted legal dispute resulted in the collapse of the flats’ water and sewer reticulation system.

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5 Comments

Gary · 1 year ago

Emmerson is has been declared the winner of this rigged election. Five more years of corruption. Five more years of failure. Five more years of oppression. Five more years of death and suffering. Five more years of broken dreams. Five more years of a weak currency. Five more years of hunger. Five more years of eroding pension funds. Five more years of rising unemployment rate. Five more years of poor infrastructure. Five more years of one party state. Five more years of bloodthirsty security forces.

guys is this real · 1 year ago

ndapererwa ini 5 yrz tichibirwa futi here guyz ko Chamisa kustate house akandopihweiko nhy veduwe zuro kwacho this is unholy pafamba Satan apa mmmmm the gold mafia the Zim mafia

Hashirama · 1 year ago

saka uchaita sei? keep on crying for the next 5 years?be a man,life goes on.

Disappointed and hopeless soul · 1 year ago

There's another world inside of me that you may never see There's secrets in this life that I can't hide Somewhere in this darkness there's a light that I can't find Maybe it's too far away, maybe I'm just blind Maybe I'm just blind." "I would rather be at home all by myself not in this country With people who don't even care about my well-being" "Isn't anyone trying to find me? Won't somebody come take me home? It's a damn cold night Trying to figure out this life Won't you take me by the hand? Take me somewhere new."

Disappointed Soul · 1 year ago

But I'm a creep I'm a weirdo What the hell am I doin' here? I don't belong here." I walk a lonely road The only one that I have ever known Don't know where it goes But it's home to me and I walk alone I walk this empty street On the Boulevard of broken dreams Where the city sleeps And I'm the only one and I walk alone I walk alone I walk alone I walk alone I walk a- My shadow's the only one that walks beside me My shallow hearts the only thing that's beating Sometimes I wish someone out there would find me 'Til then I walk alone Ah-Ah Ah-Ah Ah-Ah Ahhh-Ah Ah-Ah Ah-Ah Ah-Ah I'm walking down the line That divides me somewhere in my mind On the border line of the edge And where I walk alone Read between the lines of what's Fuc.k.ed up and everything's all right Check my vital signs to know I'm still alive And I walk alone I walk alone I walk alone I walk alone I walk a- My shadow's the only one that walks beside me My shallow hearts the only thing that's beating Sometimes I wish someone out there would find me 'Til then I'll walk alone.... Ah-Ah Ah-Ah Ah-Ah Ahhh-Ah Ah-Ah Ah-Ah I walk alone I walk a- I walk this empty street On the Boulevard of broken dreams Where the city sleeps And I'm the only one and I walk a.. My shadows the only one that walks beside me My shallow hearts the only thing that's beating Sometimes I wish someone out there would find me 'Til then I'll walk alone