Leading real estate company, West Properties Zimbabwe has been cleared by authorities and the Environmental Management Agency to start housing developments in the Borrowdale and Pomona areas where thousands of units will be built for the upper and middle income groups.
The company recently launched Pokugara housing estate in Borrowdale where it is selling stands, double and single storey houses.
Under the first phase, over 150 town houses have been earmarked for construction with 21 properties having been walled and servicing completed while the first six units that have been constructed.
“Moving on to the next development, Millennium Heights, we are bringing affordable residential apartments, in Zimbabwe which we usually call flats, located in Borrowdale just behind the Dandaro Estate.
“This community style of living is what we call a secured gated community in which people can feel safe to walk around and the facilities are not only modern but beautiful to look at.
“This all looks onto the Borrowdale Vlei where we are rehabilitating the water features that are no longer existent whilst sustaining and protecting the environment as part of our CSR and as per agreement with the Environmental Management Agency,” said the company.
“We want to create a park in which residents between Pokugara and Millennium Heights can walk around and enjoy nature watching the birds and water life.”
The company said its business model was focused on bringing the very best value added products in real estate development. Prior to the two developments in Borrowdale, the company completed Gunhill Rise which has been sold out as well as Homelands 263 in Mount Pleasant.
“We are embarking on the biggest project to date which is a very exciting city within a city, called Pomona City, on the northern boundary of Harare Drive. On the west we have Wing Gate Golf Course and on the east Borrowdale Road.
“It is a large area which will incorporate several thousand homes, starting with larger properties of almost one acre down to small stands of 400 sq meters in the later phases.
“We will also have some densification with built up areas including walk-up flats, clusters and apartments,” said the company.
The project will include one of the most affordable methods of purchasing a property in Zimbabwe called the Leasehold Concept.
“This concept allows a home owner with a small deposit that has flexible payment terms over several months. The home owner can access the land and for the first time in the history of Zimbabwe, pay as little as $200 a month for the duration of the lease hold period.
“This allows the home owner to free up the capital that would normally be spent on buying the stand to rather use on building their house.
“The leasehold title concept is well established in other countries such as UK, South Africa and Dubai .”