eBusiness Weekly
Enacy Mapakame
Zimbabwe capital city, Harare’s real estate sector, is increasingly seeing a rise in mixed use developments, a shift from the traditional developments, as the country adopts global trends.
This is being adopted not only in line with modern trends but to optimise space, which is fast depleting in urban centres as demand for land continues to increase.
WestProp Holdings chief executive officer Ken Sharpe concurs.
“Historically, we always preferred single-use developments, but with land banks becoming scarce, mixed-use developments have presented a viable option for efficiently using our limited land,” he said in a LinkedIn article.
“The rise of mixed-use housing has emerged as a significant strategy to accommodate a growing population while preserving the neighbourhood spirit in the ever-expanding urban environment” said Sharpe.
The real estate expert added that the adoption of mixed-use developments can play a vital role in regenerating metropolitan areas and reviving neglected communities.
For example, WestProp Holdings, in partnership with the City of Harare, will revive and improve Warren Hills Golf Course into a PGA-standard Golf Course; the first of its kind in Zimbabwe.
Sharpe added that through pioneering the adoption of mixed-use developments, property developers can play their part in contributing to urban regeneration projects and assist in rejuvenating the city centre by reusing old structures or building new ones from the ground up.
“It’s also interesting to note the rate of residential property development that has been taking place in Harare for the past five years.
“There are currently at least 20 developments under construction in Borrowdale alone to provide similar lifestyle communities like ours where residents can live, work, shop and play within the same area,” he said.
Over $100 million has been invested into these projects, a positive sign showing the appetite for real estate in the city.
WestProp has been one of the leading companies to introduce vertical mixed-use lifestyle developments in Zimbabwe.
Another company that is playing a critical role in this is Terrace Africa, which is reshaping the city’s skyline with the unveiling of world class projects, some initiated in 2020 such as the Highland Park, along the ED Mnangagwa Road –formerly Enterprise Road.
The property developer last year announced its plans to transform the face of Highlands area in Harare with its upmarket Highland Park Precinct, which will include residential space, taking on the mixed-use model of development.
The development is expected to have world class features and attract premium tenants as it takes shape with completion of some segments set for 2024.
