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WestProp Holdings Limited, a Victoria Falls Stock Exchange-listed firm, has announced the commencement of the highly anticipated Hills Luxury Golf Estate project. This ambitious venture is set to add 70 million bricks to the company's target of one billion bricks by 2050. The project will feature a world-class 18-hole golf course, modelled after those used in the PGA Tour, as well as the construction of villas, apartments, townhouses, a country club, hotel, tennis and swimming academy, and a shopping mall.
According to CEO Ken Sharpe, this project is a first for sub-Saharan Africa and Zimbabwe and is part of the company's mission to contribute to urban renewal projects endorsed by the second republic. The project is estimated to consume 70 million bricks, doubling the company's brick count to over 150 million and creating a value of over US$300 million. Renowned golf course designer Peter Matkovich and top architect Joan Balagué Capdet have been roped in to bring this vision to life. This development is one of several WestProp projects, including Millennium Heights and Pokugara Residential.
Zimbabwe's Real Estate Market Booms; REITs Offer New Investment Opportunities
HARARE, ZIMBABWE Zimbabwe's real estate market is experiencing a significant surge in investment, driven by rapid urbanisation, population growth, and infrastructural development. The country's strategic location, regulatory reforms, and government incentives have made it an attractive destination for investors.
In a move to further boost the market, Real Estate Investment Trusts (REITs) are being introduced, offering investors a new and diversified investment opportunity. REITs allow individuals to invest in a portfolio of properties, providing a share of the income generated by the properties without directly managing them.
Industry experts predict that REITs will play a significant role in Zimbabwe's real estate market, providing a platform for investors to tap into the continent's growing demand for housing and commercial space. With the country's economy poised for growth, the introduction of REITs is expected to attract both local and foreign investors, injecting much-needed capital into the market.
"The introduction of REITs is a game-changer for Zimbabwe's real estate market," said [Name], CEO of [Company]. "It provides a new and innovative way for investors to participate in the market, and we expect to see significant interest from both local and international investors."
The Zimbabwean government has implemented various incentives to attract investors, including tax breaks and investment guarantees. The country's real estate market is expected to continue its upward trajectory, with REITs playing a key role in its growth and development.
