admindevelopment of one of the largest residential and commercial property projects in Zambia, the Roma Park.
According to a statement on the Renaissance website, Roma Park, a 104-hectare multi-million-dollar mixed-use residential and commercial development, was launched in Lusaka last month, establishing a new blueprint for economic, social and infrastructure growth in Zambia.
Roma Park will encompass mixed-income residential, commercial and industrial properties, including a shopping centre, big-box retail space, restaurant and conferencing facilities, warehousing, manufacturing and office space.
Roma Park, which will be developed in two phases over five to seven years, is situated close to urban growth points in the Lusaka suburbs, with prime exposure to the New Zambezi Road, to the east of the site, which links Roma Park with the heart of Lusaka.
This prime location is less than 6km from the Lusaka Central Business District, and the Manda Hill and Arcades shopping centres. Roma Park is being developed by CDP Properties – a joint venture between CDP Investments, a leading land investor and tourism company, and the project’s majority shareholder; and Renaissance Partners.
“Roma Park is the first development of its kind in Zambia and is a major attraction for local, foreign, private and public investors,” said Charles Davy, managing director of CDP Properties.
“By using Zambian and international architects and experts for its design and construction, Roma Park will create a residential and corporate address of international standards, with long-term investment value.”
Roma Park will provide purpose-built and well-serviced manufacturing units, in an area that is expected to become a national and regional manufacturing hub.
The development will be home to between 500 and 1 000 residents, creating thousands of employment opportunities during its development, and through services and businesses.
Renaissance Partners chief executive officer Mr Chris Baxter said: “Renaissance Partners is proud to bring to Zambia its experience in providing visionary urban solutions to African cities.
“Roma Park will provide its commercial and residential inhabitants with an exciting lifestyle and business environment supported by world-class infrastructure.”
The development has the backing of the Zambia Development Agency and the Government of Zambia.
It is the first private commercial property to be zoned as an industrial park in Zambia, under the ZDA Act of 2006 that is aimed at promoting the manufacturing sector, in particular, in an effort to diversify the country’s economy.
Renaissance Partners, the principal investing arm of Renaissance Group, is also leading partner in Tatu City, the first ever holistically planned city in Africa.
Located in Greater Nairobi, Kenya, Tatu City will be home to 62 000 residents and 23 000 day visitors.
Online Reporter