ZIMRE Property Investments (ZPI) says its housing development project in Bulawayo is expected to be completed by August this year.
BY MTHANDAZO NYONI
The company is involved in the construction and development of Nicoz House at the corner of Fort Street and 8th Avenue, into a student accommodation facility, creating about 190 beds.
It also wanted to develop five blocks of student hostels in Selbourne Park, but the proposal last year was met with resistance from the Bulawayo City Council and residents.
At the Selbourne Park project, ZPI is expected to offer 900 beds. The two projects were valued at close to $10 million.
ZPI managing director, Edison Muvingi told NewsDay that their project in Bulawayo was on course and would be completed by August.
“There is a lot of progress that is going on there. We are targeting to finish our project by August so that when the university (National University of Science and Technology) opens in September, all would be in place,” he said.
Muvingi also revealed that the construction of their $13 million upmarket shopping mall in Victoria Falls was going on.
The Zimbabwe Stock Exchange-listed property concern is into residential and commercial property development and seeks to tap into the anticipated business boom on the back of an influx of tourists in the resort town, following the $150 million upgrade of the Victoria Falls Airport International Airport.
The mall will house offices, internet cafes, bookshops, banks, boutiques, hair salons, restaurants, motor spares shops, medical centre, theatres, cultural centre and gymnasium.
An elaborate sewer and water reticulation system would be put in place with access roads being constructed for easy vehicular movement.
The property developer was given the Environmental Impact Assessment certificate to start construction work by the Environmental Management Agency in December last year.
Muvingi said they were committed to the development of Zimbabwe’s economy, having invested close to $20 million in Bulawayo and Victoria Falls.