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Tina Musonza Herald Correspondent
THE Government has implored property investors, developers and practitioners to craft strategic roadmaps to stimulate economic growth in line with Vision 2030.
This comes after ZimReal Property Investment Forum yesterday attracted global investors in Harare that came to seize opportunities from across multiple subsectors which include retail, hospitality, residential, among others.
Speaking at the forum yesterday, Minister of Industry and Commerce Dr Sekai Nzenza said the progressive refurbishment of infrastructure had created a series of opportunity doors for investors.
“I want to urge all players to come together to develop a strategic roadmap to stimulate economic growth through property investment and development.
“On my end, this can be done through a whole of Government approach wherein the Ministry of Industry and Commerce works together with other ministries on housing and related institutions”, she said
She said that real estate is an enabler of economic activity and commended investors to increase market liquidity for value chains.
“Lastly, we consider the industrialisation agenda under the local content policy, in particular, looking at competitiveness, the real estate sector is an important component of the broader sector.
Regional property consultant, eXp Reality South Africa, urged investors to create a property ladder where investors start from the bottom with small assets up to the top to broaden their markets.
“We need to make the properties work and give us money and the sophistication is there. It is a property ladder markets are there and let us use property what it needs to do and money what it needs to do, “he said
Real estate remains attractive to investors as Zimbabwe Investment and Development Agency (ZIDA) tabled special economic zones during the forum which include Kelvin, Donnington, Umvumila Ferhill and Masuwe special economic zone for developers and investors to invest.
ZIDA special projects director, Mrs Silibaziso Chizwina said they wish to have developers register for the mentioned assets.
“We want a developer, operator and investor opportunities to partner with the Government in making use of potential bulk infrastructure and participate in the special economic zones development processes, she said.
Zimbabwe’s real estate sector leaders have forged ahead over the past few years, despite the risk and numerous fiscal challenges.
Online Reporter