Construction of US $200m housing development has begun in Harare, Zimbabwe. Dubbed ‘Marlborough Sunset Views’, the project which was contracted to Masimba Holdings involves the delivery of 354 stands with the first phase of 70 houses to be completed by December 2019; selling is scheduled for January 2020.
The land under development falls close to the Gwebi River and the company has provided sufficient buffer to protect the land and has made commitments to Marlborough Environmental Action Group (MEAG) and the Harare Wetlands Trust (HWT) on a continued future role to preserve and protect the land.
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Marlborough Sunset Views
According to Dawn Properties chief executive officer Patrick Matute, Marlborough Sunset Views places the company at the forefront of residential housing development in Harare. “The delivery of 354 stands, with estimated gross revenue in excess of US $200m indeed fulfils the pledge we made to shareholders to become a fully integrated property company. While others might question the timing of the development given the current challenges, we are of the strong view that a market still exists for both first time home buyers and investors,” he added.
The project was named ‘Marlborough Sunset Views’ because of the partnership that the company has developed with the Marlborough local community since the development of Elizabeth Windsor Gardens in the past. Matute also added that the company will commit to finishing the upgrading of Elizabeth Windsor and Mapereke Roads while further works will be done at the sewer to solve the current blockage challenges.
Dawn Properties Limited aims to achieve the goals of the project through creating a sustainable property development business unit that meets the company’s minimum threshold for return on equity.
Upon completion, the project will provide a whole ecosystem for property investors, owners and corporates. The project will be in line with movement towards a World Class City status that Harare was targeting to achieve by 2025.
