Exciting Developments Ahead: Zimbabwe's First Regional Mall on the Horizon
HARARE – A new chapter in Zimbabwe’s retail landscape is set to unfold as WestProp Holdings, a prominent player in property development, gears up for the construction of “The Mall of Zimbabwe.” This ambitious project marks a significant milestone in the country’s commercial sector and was highlighted in the company’s recent half-year financial report.
In a statement that underscores their commitment to growth, board chairman Michael Louis announced that negotiations with South African partners are in the final stages. “The Mall of Zimbabwe” is anticipated to break ground post mid-2024, giving locals something to look forward to. This development not only promises to enhance shopping options but also aims to boost the local economy by creating employment opportunities and attracting tourism.
Despite facing challenges in the economic landscape, WestProp Holdings reported a remarkable 77% increase in revenue, soaring to US,234,363. This financial success can be attributed to the thriving flagship projects, such as Pokugara Properties and Pomona City, which played a crucial role in building their robust revenue base. The company also recorded a net profit after tax of US,377,209, showcasing a commendable 31% profit margin – a testament to their effective management and strategic planning.
In addition to the mall project, WestProp Holdings continues to expand its portfolio with exciting ventures like the ambitious US0 million Hills Lifestyle Estate. Its groundbreaking ceremony on August 23, 2024, was presided over by President Emmerson Mnangagwa, signaling strong governmental support for the initiative.
WestProp has announced its commitment to sustainability within its developments, leveraging eco-friendly technologies, including solar green energy and electronic access systems. Their forward-thinking vision aims to contribute significantly to the built environment and civic infrastructure, with plans to put “a billion bricks” into construction by 2050.
With their continued focus on growth and a diversified portfolio, WestProp Holdings is cautiously optimistic about the future. As they strive to enhance shareholder value and drive community development, they remain dedicated to sharing their upcoming successes with all stakeholders involved.
As Zimbabwe embraces this new retail landscape, the anticipated Mall of Zimbabwe is more than just a shopping center; it’s a beacon of progress and hope in the region.
Stay tuned as we follow WestProp’s journey to redefine the shopping experience in Zimbabwe.
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