The Chairman of Housing Development Board Akil bhai Hirji travelled to Antananarivo, Madagascar on 30th September to 2nd October 2019 to visit the Zahra Residency site and for discussion on the progress of this housing project and other development matters. Akil bhai had fruitful meeting with the Conseil Regional Des Khojas Shia Ithna-Asheri Jamates De L’Ocean Indien (CROI) and the Antananarivo Jamaat and Managing Committee Members at the Meeting held on 30th September 2019 at the CROI offices.
ZAHRA RESIDENCY:
This project is a Quadruple collaboration, involving the World Federation (WF), Africa Federation (AFED), KSI Jamaat of Antananarivo and Conseil Regional Des Khojas Shia Ithna-Asheri Jamates De L’Ocean Indien (CROI). The Housing project consists of 5 storeys building with 30 apartments in total, out of which 10 units are 3-bedroom apartments and 20 units are 2-bedroom apartments along with parking space for each apartment.
The Rent to Own scheme has been implemented such that 9 units of 3BHK and 11 units of 2BHK are sold under the scheme. Meanwhile, 1 unit of 3BHK and 9 units of 2BHK will be sold to 1st first time investors.
On 1st October 2019, Chairman of Housing Board Akil bhai visited the site along with the CROI Managing Committee. Alhamdulillah, the progress is pleasing with the structure almost completed and the finishing continuing at a good pace. Inshallah the project is expected to be completed by July 2020.
LAUNCH OF INCOME GENERATING COMMERCIAL PROJECT
Alhamdulillah, the CROI Managing Committee has been able to secure funds to embark on a commercial project which will consist of 8 warehouses of 500 square meters on two floors, ground and first floor. This project is funded by two donors namely the family of Molou Ramdjee and Ismaelbhai Djadaoujee at the cost of approximately US dollars $2 million including the land. The estimated income will be $200,000 per year. This will be used mainly for the education of our community students in Madagascar.
On 1st October 2019, Akil bhai visited the project located in Anusi Vivaka, Antananarivo and was impressed with the planning and progress of the project that will benefit our community. The project is expected to be completed by March 2020 Inshallah.
The Africa
Federation Chairman Alhaj Shabir Najafi visited both the sites earlier
this year and is pleased with the progress of the Zahra
Residency project and the new income generating project
undertaken by Regional Council. This project after completion will be a big
boost for the Conseil Régional finances for the benefit of its membership. The
Chairman encourages such commercial projects for sustaining our institutions.
The Housing Board sincerely appreciates the efforts of Sheikh
Haniphe and his team for uplifting and securing the future of our
community in many ways and, appreciates the donation by
the two donor families. We pray to Allah (s.w.t.) to reward the
families for their generosity.
The Housing Board humbly appeals to the KSI
Community donors around the globe to come up with donations for such projects
that will assist secure the future of our Community members.
Secretariat
AFED HOUSING DEVELOPMENT BOARD
10th October 2019 (11th Safar 1441)