Online Reporter
Nelson Gahadza
Business Reporter
VICTORIA Falls Stock Exchange-listed property developer WestProp Holdings delivered a strong performance for the quarter ended March 31, 2026, largely driven by its residential, hospitality and manufacturing divisions.
WestProp reported consolidated revenue of US$8,06 million in the first quarter, representing an 80,2 percent increase from US$4,47 million recorded in the comparable period last year, underlining the strength of its diversified business model and sustained development momentum across flagship projects.
In its trading update for the review period, WestProp said the robust performance followed strong project execution, successful integration of new revenue streams and resilient demand for premium residential developments.
“WestProp Holdings Limited experienced exceptional financial growth in the first quarter of 2026, driven by strong project performance and the successful integration of new revenue streams,” the company said.
The group noted that the real estate sector was negatively impacted by an increase in value-added tax from 15 percent to 15,5 percent, which raised transaction costs and reduced affordability.
However, WestProp said disciplined project execution, strategic cost management and continued investment in infrastructure enabled the business to maintain growth momentum.
Gross profit rose by 72,9 percent to US$4,06 million from US$2,35 million recorded during the same period last year, while profit before tax increased 78,8 percent to US$2,4 million.
