Construction of US $200m housing development has
begun in Harare, Zimbabwe. Dubbed ‘Marlborough Sunset Views’, the project which
was contracted to Masimba
Holdings involves the delivery of 354 stands with the first
phase of 70 houses to be completed by December 2019; selling is scheduled for
January 2020.
The land under development falls close to the Gwebi
River and the company has provided sufficient buffer to protect the land and
has made commitments to Marlborough Environmental Action Group (MEAG) and the
Harare Wetlands Trust (HWT) on a continued future role to preserve and protect
the land.
According to Dawn Properties chief executive
officer Patrick Matute, Marlborough Sunset Views places the company at the
forefront of residential housing development in Harare.
“The delivery of 354 stands, with estimated gross
revenue in excess of US $200m indeed fulfils the pledge we made to shareholders
to become a fully integrated property company. While others might question the
timing of the development given the current challenges, we are of the strong
view that a market still exists for both first time home buyers and investors,”
he added.
The project was named ‘Marlborough Sunset Views’
because of the partnership that the company has developed with the Marlborough
local community since the development of Elizabeth Windsor Gardens in the past.
Matute also added that the company will commit to finishing the upgrading of
Elizabeth Windsor and Mapereke Roads while further works will be done at the
sewer to solve the current blockage challenges.
Dawn Properties Limited aims to achieve the goals of the project
through creating a sustainable property development business unit that meets
the company’s minimum threshold for return on equity.
Upon completion, the project will provide a whole ecosystem for property investors, owners and corporates. The project will be in line with movement towards a World Class City status that Harare was targeting to achieve by 2025.https://constructionreviewonline.com/2019/08/construction-of-us-200m-housing-development-begins-in-zimbabwe/
