Brief News Headlines

Tigere REIT Ready for Listing on the Zimbabwe Stock Exchange

PROPERTY company, Tigere Real Estate Investment Trust (REIT), has been licensed and registered with the Securities and Exchange Commission of Zimbabwe (SECZim), paving way for its listing on the Zimbabwe Stock Exchange (ZSE) by end of September 2022.

The company has recently completed two developments, Highland Park an upmarket shopping centre along Emmerson D. Mnangagwa Rd (formerly Enterprise Rd) in Highland which features Pick n Pay as the anchor tenant as well as many other high-quality tenants.

The other seed asset, Chinamano Corner has also been completed and is situated at corner Second Street and Chinamano Avenue, Harare. 

The New City - $500 Million Cyber City on the Cards

President of Zimbabwe, HE, Emmerson Mnangagwa recently unveiled the plans to build a US$500 million Zim Cyber City. Like Dubai, it will be a cutting-edge mixed-use hi-tech park being built on the outskirts of Harare, the capital of Zimbabwe. This is being developed by UAE-based diversified industrial conglomerate Mulk International.

Sprawled across 2.5 million square feet, Zim Cyber City is currently under construction in Mount Hampden, New Harare. Mount Hampden’s master plan includes the newly completed parliament building and all the ministry buildings as well as high-end residential and commercial buildings.

Zim Cyber City, when completed, will be a unique, iconic development, offering multi-fold economic benefits to commercial enterprises combined with lavish, uptown living.

Focus Growing on Retail, Warehousing & Industrial Properties 

The country has seen several developments planned and happening in the industrial and retail warehousing sectors.

Listed property firms Mashonaland Holdings and First Mutual Properties have also shown interest in the sectors. First Mutual Properties recently completed a retail warehouse in Mbare, which has now been occupied by Gain Cash and Carry.

Mashonaland Holdings has bought a 4 hectare property in Pomona industrial park with construction expected to start this October and an anchor tenant has been secured. Terrace Africa & Tigere REIT have been engaged in several ongoing and upcoming developments in the same sector in Highlands, Harare CBD, Ruwa & Madokero. Many other developments have been observed countrywide.
Photo: https://twitter.com/AutoworldZ/status/1567407483601256451/photo/1 

Chitungwiza Master Plan set to deal with illegal Settlements 

Harare Metropolitan Province Affairs and Devolution Secretary, Tafadzwa Muguti revealed that there are 52 000 illegal homes in the Harare Metropolitan province alone, 25 000 of them are in Chitungwiza while the rest of them, about 27 000 are located in various parts of Harare City.

To deal with this menace, especially in Chitungwiza, the city is now working on a master plan. The master plan will show current and future areas of development that have been officially approved by the city council. This allows residents to easily see new and upcoming suburbs that the city council has officially approved allowing them to verify the legal existence of settlements.

The city has been operating without one for the past 26 years. The last time the city of Chitungwiza had a master plan was back in 1996.