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Property

‘Zimbabwe’s rentals lowest in Africa’

ZIMBABWE’S protracted economic problems have resulted in depressed demand for properties in all sectors, resulting in the country having the lowest rentals in sub-Saharan Africa, a report by international property firm, Knight Frank, has indicated. In its 2017 Africa Report, Knight Frank said Zimbabwe’s prime property rentals ranked among the lowest…

ZERA bulb blitz continues

ZIMBABWE has seized and destroyed over 150 000 incandescent light bulbs following a ban on conventional light bulbs under Statutory Instrument (SI) 21 of 2017, the Zimbabwe Energy Regulatory Authority (ZERA) has said. ZERA chief executive officer, Gloria Magombo, last week told The Financial Gazette that the majority of the…

Aspindale Park gets council approval

PROPERTY development firm, Aspindale Park, has secured title deeds from the Harare City Council for its multi-purpose housing project situated at the junction of High Glen road and Kambuzuma, a development that will result in home-seekers being able to access mortgage finance. The project comprises 1 200 residential stands measuring…

Property developer faces $200m compensation bill

THE High Court has ordered Eddies Pfugari (Pvt) Limited to fully service two sections of its Knowe suburb in Norton within 90 days, failure of which the property development firm should pay nearly $200 million in compensation to residents. Justice Owen Tagu granted an application by the Knowe Residents and…

Zivhu “ZimAsset project” backfires

THE Zimbabwe Amalgamated Housing Association (ZAHA) owned by Association of Rural District Councils president and Zimbabwe Cross Border Traders Association president, Killer Zivhu’s “ZimAsset project” has drawn the ire of Norton residents whose houses were involved without their concern. ZAHA last week published a supplement in local media highlighting the…

Contractors want stake in urban renewal

By Kenneth Matimaire MUTARE — The Zimbabwe Building Contractors Association (ZBCA) is mobilising a total of $1 billion to embark on massive infrastructural development projections under a build, operate and transfer (BOT) model, The Financial Gazette can report. The development comes at a time the ZBCA has clinched construction deals…

Zvimba seeks to cancel Rydale title deeds

ZVIMBA Rural District Council (ZRDC) is planning to cancel title deeds of thousands of properties in Rydale Ridge Park suburb on the outskirts of Harare, claiming that these were obtained using fraudulent documents. This emerged in a High Court case in which the local authority is suing the Registrar of…

Africa property offers rich pickings for the brave

SOME property pundits believe there are major opportunities for investors or companies on the continent. While most pundits will agree that the saying “Africa is not for sissies” rings true when it comes to property investment, some commentators believe there are major opportunities for investors on the continent. Over the…