Online Reporter
Michael Tome
Business Reporter
Property investment and development company Mashonaland Holdings says it has obtained necessary regulatory approvals to start developing the Greendale Cluster Housing project, as the firm presses on with portfolio diversification.
The initiative is part of the firm’s efforts to capitalise on the property sector’s diverse growth opportunities, spurred by strong demand in residential and retail segments.
Demand for residential accommodation continues to grow, driven by Zimbabwe’s ballooning housing backlog and the limited supply of new and affordable housing stock over the years, which has created opportunities for developers.
According to MashHoldings, key areas of investment opportunity in the property sector include low-to-medium cost housing developments, which can help address the housing backlog and provide affordable options for buyers.
Mixed-use projects are another attractive option, combining residential, commercial, and retail spaces to create vibrant and sustainable communities.
The demand for residential and retail spaces is expected to continue, driven by the fundamental needs of the population.
MashHoldings managing director Mr Kudakwashe Musundire, in the firm’s 2024 annual report, said the targeted segments were likely to remain attractive for investment, offering opportunities for developers to meet the needs of a growing population and contribute to the country’s economic growth.
“All regulatory approvals for the Greendale Cluster Housing Stands have been secured for the engineering services, comprising roads, stormwater, sewer and water reticulation.
“Development works and preselling activities are expected to commence in the second quarter of the year.
“The group is focused on commercializing its prior-period investments while continuing efforts to achieve a balanced portfolio structure that safeguards investor returns,” said Mr Musundire.
This development follows Mashholdings’ recent completion of the Pomona Commercial Centre, a state-of-the-art facility, which occupies 14 000 square metres of lettable space.
Pomona Commercial Centre, which is now open to the public, includes wholesale units and flexible warehousing, complemented by landscaping and power connections.
These developments come as the local property market has shown remarkable resilience despite the economic challenges and limited access to affordable capital, continuing to attract investor interest.
According to Mashhold, this enduring appeal can be attributed to the stable and predictable returns that real estate investments offer, coupled with the steady demand for high-quality commercial and residential properties.
Property remains an attractive asset class due to its potential for long-term value appreciation and regular income streams.
The underlying demand for prime properties, whether commercial or residential, provides a solid foundation for investment, making real estate a favoured option for those seeking stable returns in an otherwise uncertain economic environment.
The retail sector is also experiencing increased demand due to the growing informal economy and in response, property owners are adapting by repurposing some central business district (CBD) spaces into smaller, more flexible shopping units that cater to informal traders.
This trend underscores the real estate sector’s enduring appeal as a haven for investors looking to preserve capital and mitigate risk.
