adminLovemore Zigara, Midlands Correspondent
GWERU-based property developer, Mashmo Land Developers, has taken advantage of Zimbabweans living in the diaspora who want to invest at home to sell its stands.
The property company is developing cluster houses in the plush suburb of Daylesford along the Gweru-Zvishavane Road.
Mashmo chief executive officer Mr Robson Vunganai said they decided to focus on the high income bracket that has largely been ignored by most property developers.
He said 90 percent of the people who bought their stands were Zimbabweans in the diaspora.
“We identified the market after realising that most property developers were concentrating on providing stands to home seekers in the low income brakcet who want to build houses in high density surbubs leaving out those who want to build houses in low density surbubs,” said Mr Vunganai. He said his company was developing 57 cluster houses and 90 percent of the houses belonged to people in the diaspora.
Mr Vunganai said his company wanted locals to also benefit hence it was partnering financial institutions so that locals can access funding.
The company will hold an open day where it will be showcasing its services next month.
According to leading real estate firm Knight Frank interest in the property market by Zimbabweans living abroad has been heightened by the depressed local money and stock markets.
The company notes that the people living abroad have taken advantage of the plummeting property prices to increase their investment at home.
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