PPC ZIMBABWE and the buyer of its US$30 million Arlington Estate have extended the sale deadline to June 30, 2026, following administrative delays and a dismissed High Court claim that stalled key milestones, the cement manufacturer’s South African parent company said.
The extension comes after a legal challenge by a Zimbabwean housing cooperative was thrown out by the High Court, clearing the way for the completion of the deal. The sale, originally set to conclude by February 2026, is part of PPC Zimbabwe’s strategy to unlock value from non-core assets, bolster its balance sheet, and potentially repatriate proceeds to its South African parent company.
PPC Limited, which owns 88% of PPC Zimbabwe, first announced the disposal of the 418-hectare Arlington Estate in Harare to Transvaal Africa (Private) Limited in August 2025. The US$30 million cash transaction is structured around milestone conditions and regulatory approvals.
“In this regard, the High Court of Zimbabwe dismissed the claim with costs, ruling that it was frivolous and vexatious. In light of these administrative delays, PPC Zimbabwe and the purchaser have agreed to extend the deadline for completing all milestone events to 30 June 2026,” PPC Limited said.
The estate, acquired by PPC Zimbabwe in 1990, is zoned for residential, industrial, and commercial use.
Despite past expropriation attempts and a compulsory government acquisition in 2010, the company regained formal title in December 2024.
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Since the land contains no limestone — a critical raw material for cement — the estate is non-strategic, prompting the decision to sell at fair value.
In the four months ended July 31, 2025, PPC Zimbabwe Limited’s cement sales volumes increased by 22%, benefiting from stronger consumer demand and tariffs on imported cement imposed in May this year.
In May 2025, the Zimbabwean government introduced a 30% surtax on imported cement, as outlined in Statutory Instrument 50A of 2025, following intense lobbying from local manufacturers of the building material.