Online Reporter
Wallace Ruzvidzo Harare Bureau
A MAJOR property developer behind iconic global landmarks such as the Burj Khalifa in Dubai, Emaar Properties, is expected in the country this month for site inspections and finalising details for planned projects, which include luxury hotels.
This emerged after a meeting between President Mnangagwa and Emaar Properties founder Mr Mohamed Alabbar.
In a post on his official X account yesterday, President Mnangagwa said he had a highly productive meeting with Mr Alabbar.
“I had a highly productive working meeting with Mohamed Alabbar, the visionary founder of Emaar Properties — the world-renowned developer behind iconic global landmarks like the Burj Khalifa,” he said.
“During our discussions, we finalised exciting plans for a massive new investment in premium hospitality, bringing world-class luxury hotels to our country.
“Mr Alabbar and his executive delegation will be arriving later this September to conduct site inspections and finalise the project details.”
He said the investment was expected to create thousands of jobs, stimulate local businesses and strengthen the country’s position as a leading tourist destination.
With a net asset value of US$48,3 billion, according to its website, Emaar Properties is one of the world’s leading real estate development companies.
Some of its major real estate developments are in countries such as India, Saudi Arabia, Pakistan, Turkey and Egypt.
The company has also announced major expansion plans in other markets, including an estimated US$20 billion master development plan in Syria covering Damascus and Latakia.
The engagement with Mr Alabbar was facilitated by the President’s Special Advisor on Investment and Empowerment, Dr Paul Tungwarara.
“This momentous engagement was seamlessly arranged and coordinated by my Special Advisor on Investment and Empowerment, Dr Paul Tungwarara.
“His dedication to driving economic diplomacy and bridging international partnerships continues to play a vital role in advancing our national vision. Progress is on the way!” wrote the President.
Emaar has established competencies across real estate development, retail and shopping malls, hospitality and leisure, with the company positioning itself around design excellence, build quality and timely delivery.
The planned investment comes after President Mnangagwa attended the World Governments Summit in Dubai earlier this year, where he held high-level bilateral engagements aimed at attracting international investors into Zimbabwe.
During the engagements, the President met business leaders and executives from global corporations, presenting Zimbabwe as an investment destination anchored on political stability, abundant natural resources and investor-friendly reforms being implemented by the Second Republic.
The latest development is expected to add impetus to Government’s efforts to attract international investment into the tourism and hospitality sector while supporting the broader drive to position the country as a competitive global tourism destination.
