Vusumuzi Dube, Deputy Radar Editor
FOURTEEN companies and investment consortia have expressed interest in developing Bulawayo’s former Ascot Race Course site, with the City Council now evaluating submissions for the proposed mixed-use project.
The interested parties are E-Square Holdings, Enerty Qelfigeo Mining, Hydro Utilities, S Enerty Qelfigeo Mining, Road Surfacing, CBZ trading as Datvest, Tefoma Construction, Vuka Africa Ribane, Old Mutual Investment Group, NBS, Reegul Consortium, Tadgira Investment, National
Railways of Zimbabwe (NRZ) and Dabuna Projects.
In a progress report presented by the Town Clerk, Mr Christopher Dube, council said the expressions of interest were received following the publication of an advertisement under reference EOI No. CoB/EDU/01/2026.
“A total of 14 expressions of interest were received and confirmed by the Audit and Risk department. Those submissions constituted the pool of prospective developers and investment partners to be assessed against the published requirements.
“Receipt of the submissions marked the completion of the initial market invitation stage and provided a basis for proceeding with the evaluation and shortlisting process,” reads the report.
Council further reported that acknowledgement of receipt of expressions of interest had been sent to all the fourteen applicants and that it was now evaluating the submissions.
The local authority intends to identify a master developer or consortium capable of coordinating the development of the approximately 60-hectare site adjoining the Central Business District.
“The City of Bulawayo was thus facilitating a comprehensive development of the area as an integrated, master-planned mixed-use development.”
The proposed land uses include commercial and office developments, hotels and hospitality facilities, residential developments, medical and health facilities, retail and entertainment facilities, an amusement centre, local authority offices, public open spaces, fuel service stations and supporting infrastructure.
The city’s approach is to identify a suitably qualified and financially capable master developer or development consortium with the capacity to plan, finance and implement the precinct in a coordinated manner,” reads the report.
However, the development will require significant investment in infrastructure, with the advertised estimates putting the combined cost of road, water and sewer infrastructure at US$7.7 million.
“The advertised estimated cost of road infrastructure is US$7,031,672.49, while the estimated cost of water and sewer infrastructure was US$696,977.05. The combined estimated servicing cost was therefore US$7,728,649.54, inclusive of the stated contingency and VAT.
“Those figures were estimates contained in the advertised project information and remained subject to relevant technical verification and approvals,” reads the report.
Council said the Department of Works had already developed precinct plans and designs to guide the development.
“The Department of Works had developed precinct plans and designs to guide the proposed development of the former Ascot race course. Those plans and designs would be shared with the shortlisted developer or development consortium to inform the preparation of detailed technical and financial proposals and facilitate the coordinated implementation of the project,” the report states.
An evaluation matrix has also been developed to guide the assessment of the submissions.
The matrix provides the framework for assessing submissions against the requirements of the Expression of Interest and would support the identification of suitable candidates for consideration at the subsequent stages of the project.
The next stage now involves the local authority shortlisting five prospective developers from the 14, who will then proceed to the next stage.
“The process would involve the evaluation of the 14 Expressions of Interest received, with the objective of identifying five prospective developers or development consortia to proceed to the next stage of the Ascot Precinct Development Project,” reads the report.
The shortlisted candidates would then be invited to submit detailed technical and financial proposals for further assessment.
Council’s project implementation Gantt chart anticipated that the selected developer or consortium would be approved by council in January 2027.
The project is guided by Local Subject Plan No. 20, covering the Ascot Race Course area. The report says the plan was now operative, with topographical surveys underway and title surveys expected to follow.
