Chronicle Editor
Natasha Chamba, Business Reporter
GWERU-BASED property concern, ZimBuild Property Investments, a TM Group subsidiary, has invested $225 million in property development since 2014.
Diversified TM Group founder and owner, Mr Tinashe Manzungu told Business Chronicle that housing provision will help the country to achieve its development goals.
“Land remains the bedrock and heartbeat of TM Group fully aware that it doesn’t depreciate in value so easily.
Since 2014 we have invested over $225 million in property development,” he said.
He said the company has more than 300 hectares in Gweru and Kadoma where construction projects are at various stages of development.
Mr Manzungu said the property concern’s desire was to provide sustainable, innovative and client responsive solutions to challenges of accommodation shortage.
He said the group continues to offer affordable housing units and residential stands in Gweru.
“In Montrose from phase 1 to phase 5, the company has completed servicing 1 079 stands and 250 houses have already been built while in the medium density of Good Year, more 5 000 stands have already been sold,” he said.
Zimbuild through its sister company Prime Mutual Properties is also planning to build 2 000 houses.
Mr Manzungu said in Mkoba 21 the company bought 6 000 stands.
He said the company has built 300 three-roomed houses for Unki Mine workers and wants to build more for other companies.
TM Group has keen interests in construction, information communication technologies, health and micro finance with presence in Rwanda, Zambia and Botswana.
Through group synergies, Mr Manzungu said he has managed to expand his business.
TM Group has a net value of $400 million and intends to reach $1 billion mark by 2025.
— @queentauruszw
derick.khumalo