Harare Currently Not Able To Service New Property Stands Around The New Parliament Construction Precinct, But Country Desperately Needs A New Seat Of Power

 

 

The Sunday Express

 

Mixed feelings continue in Zimbabwe’s property industry over expected increases in value of land in and around Mt Hampden – as construction of the new Zimbabwe parliament Buildings reaches roof level.

Speculation has been mounting over how the value of land in and around the new parliament precinct will be affected by the occupation by the country’s lawmakers – and investors now weighing up options for landuse around the new structure, and expected returns.

Zimbabwe’s new 100-seat parliament was expected to be completed for occupation in March of 2022 – but is now due for completion in September of the same year following disruptions that were caused by the COVID-19 pandemic.

Speaking on the Property Investment In Zimbabwe Programme – presented by Leimen Limited on Zoom this week, Oasis Realty’s Lawrence Rimayi – told guests, followers and on the channel that there had been a flurry of activity and inquiries about real estate opportunities in Mt Hampden – but the main drawback at the moment was that the parliament was situated on land which fell under a rural district council.

“There have been a couple of inquiries, quite a hype, and we see developments around an area called Sandton, there is also Fairview Estates development, there is also New Malborough which is also expanding in that direction, and there is also the Good Hope location which is coming up in the same area.

 

 

“So yes, there is a lot of new activity around Mr Hampden, but remember there is a large tract of farmland there that still needs to be sub-divided, and that farmland falls under the Zvimba Rural District Council.

“So for instance if you look at the new development in Sandton, which falls under the Zvimba Rural District Council, they have approved stands on land which was subdivided into 1000sq metres – but on land which was running parallel over land belonging to Zvimba Rural District Council, and the other side land belonging to the Mazowe Rural District Council.

“I foresee problems and stories there is the next say 10 or 20 years, because – in terms of layout plans and planning protocols – before you approved developments of such magnitudes – you look at all your basic amenities and of which water is a crucial element.

“While Harare is the bigger authority that stands to lose out from these activities because of the move by Parliament, but water in Harare comes from lake Chivero, and we all know about the challenge of water in Harare as it is. So imagine trying to supply water to the new City of Mt Hampden. At the moment Harare is not able to service these new stands

“But be that as it may we have seen a trend whereby people and business are moving to suburban areas out of Harare, and people always drill boreholes where land is above a certain size area. But there is no sewer connection, meaning that people will be using septic tank.

 

 

“But in this new development there is no sewer system that has been installed, and sooner or later there is going to be contamination of borehole water. That’s the challenge that I foresee.

“What government could have done is to start with the water supply system before mapping up the high-end real estate developments and putting the bricks on the foundations.

“Perhaps there will be a meeting of the minds, or a change of direction between the local authorities and the central government – since the two rural districts were central to the boundaries of Mt Hampden, and those are the things that every developer should be looking at in terms of the opportunities at Mt Hampden,” said Rimayi.

China’s Shanghai Construction Group is constructing the building which will replace the 100-seat building that was built during the colonial era and which has become small for parliament business.

 

 

The state-of-the-art parliament building is being constructed through a grant that was provided by the Chinese government.

The imposing six-storey building, sitting on a hilltop, is the largest building funded by China in a single southern African country in recent years.

The building has a seat capacity of 650 compared to 100 for the current parliament building, and will also have extra facilities for conferencing, 12 committee rooms and adequate space for office staff and parking.

The new Parliament Building is a major infrastructure project that is now flagged by government as the centrepiece of the new city of Mt Hampden, and reports say the Covid-19 pandemic slowed down progress at the project which is now at 65 percent completion.

Rimayi gave a solid assessment of the general prospects for Zimbabwe’s property industry, and pointed out that while the country was riding on a crest-wave of a buyers market – the industry was still edgy over an unstable financial system which continued to favour the use of the US dollar for all financial transactions, and leaving many sellers to prefer cash sales, rather than banks and mortgages.

 

See poster below for details on the next Leimen Limited Property Investment In South Africa: Conveyancing and Bond Origination Processes.

Make a date with Ngoni Bepe and Thomas Karuwa as they discuss the South African property industry terrain, and answer all your questions for those with an appetite for the South African property sector.

Saturday December 18. In partnership with The Sunday Express Property Digest Magazine. See News Differently

 

 

 

 

 

 

 

Next Up

The presentation on South Africa signs off the Country series we launched a few months ago which featured Dubai and Zimbabwe.

It is also the last this side of the year. Chats on forum will continue throughout the holiday break and into the early part of the new year.

If you haven’t watched any of the previous please make a date! Most of you will want to understand what opportunities exist across the Limpopo!

 

Next Saturday is the day, Leimen Zoom the venue!! Let’s count down!!

 

 

 

 

 

Property Investment In Zimbabwe: An Overview: With Leimen Limited: Book Your Front Seat

 

 

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