PROPERTY developer WestProp Holdings Limited says it is restructuring its balance sheet to remove non-performing assets, as the group seeks to strengthen its financial position amid ongoing large-scale developments.
The developer reported total assets of US$239,99 million for the financial year ended December 31, 2025, up from US$213,5 million in the prior year.
Investment properties — which include flagship developments such as The Hills Golf Course & Lifestyle Estate, Millennium Heights, Pokugara Properties and Mall of Zimbabwe — accounted for the largest share of the asset base at US$157,77 million.
The company also holds land earmarked for future development along Alps Road and Borrowdale Road, which recorded a fair value gain of US$7,24 million, according to valuers Phoenix Real Estate.
“Further to the cautionary statement dated 16 April 2026, shareholders are advised that professional consultations on the restructure of the company to remove non-performing assets are underway,” WestProp said in a statement.
“If successful, the transaction may have a material effect on the company’s securities price. Accordingly, shareholders and members of the public are advised to exercise caution when dealing in the company’s securities until a full announcement is made.”
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The company’s projects remain capital-intensive and are still under development, meaning some have yet to become fully income-generating.
WestProp said the board would provide further updates once more information becomes available.
In its financial report, the group said the accounts were prepared on a going concern basis, supported by expectations that planned initiatives would succeed and allow the company to realise assets and settle liabilities in the ordinary course of business.
“Entering 2026, the group maintains a position of measured optimism,” WestProp chairperson Michael Louis said in the financial report.
“With key projects advancing steadily and on schedule, coupled with sustained investor confidence, the group is exceptionally well-positioned to deliver enduring value across its residential, commercial, and hospitality portfolios through steady, constant, and deliberate progress.”