Following the Bond Notes Introduction announcement in September 2016, the Simon Muzenda Bus Terminus Project took a huge blow. It is said that the announcement by the Reserve Bank of Zimbabwe made investors who had shown commitment to investing, no longer interested.
The US$54 million bus interchange in Harare was to transform the formerly known, 4th Street into a modern, bus terminus. The Simon Muzenda Bus Terminus Project was a joint venture collaboration with the Harare Municipality. While commenting on the project, the Managing Director of Pearl Properties said that it will “take a bit longer” for the project to come onstream, and continue progressively.
Reported On 24 March 2015
Zimbabwe to undertake Upmarket bus terminus project at US$50mn
Zimbabwe plans to construct a US$ 50 million bus interchange in Harare. Right at Fourth Street bus terminus after a joint agreement was made between Pearl Properties and the City of Harare. Pearl Properties’ general manager of developments Christopher Manyowa has said the mega bus terminus project will change the way Harare looks. The project is should kick off next year.
“The joint venture will see the City of Harare contribute the land, Meanwhile Pearl Properties will contribute the funding for the development. At an estimate, the development costs $50 million,” Manyowa said.
He also said that the mega bus terminus project will be implemented in phases. Moreover, it would include the construction of a major Shopping mall. The bus terminus project will stretch from Fourth to Fifth Street. Furthermore, it will then extend from Robert Mugabe to George Silundika Avenue.
Pearl Properties, which is on the Zimbabwe stock exchange, has undertaken various property investments. Furthermore, it is almost finalizing the Kamfinsa housing development where 38 units in Greendale are under construction.
Zimbabwe is already undertaking several infrastructural projects involving road construction. An example will be the US$22m surfacing and construction of the Save River bridge on the link between Wedza and Sadza Growth Point. Another will be the 112km length Bulawayo -Tsholotsho road, a project that had stalled for two years.