ED commissions US$20m Highland Park Shopping Mall

PHILLIMON MHLANGA

President  Emmerson Mnangagwa yesterday commissioned the phase 1 Highland Park Shopping Mall in the capital Harare.

The cost of the state-of-the art  complex, situated at the corner of ED Mnangagwa and Acturus roads,  was estimated at US$20m.

The project, developed by Terrace Africa, will be occupied by 23 retail shops, including anchor tenant, retail giant, Pick n Pay and a variety of other outlets.

“This occasion comes at a time when our country continues to register significant progress towards the modernisation of its infrastructure through the construction of dams, roads, highways, schools and clinics as part of our drive to achieve our national vision,” Mnangagwa said.

He added: “The continued faith which investors are showing  in our economy is a clear testimony of improved  ease and cost of doing business by the Second Republic.

‘This particular project will contribute to the city’s quest to attain a smart city status. It is undoubtedly  a key initiative by the private sector, which complements government  efforts.”

The shopping complex is the latest offering from Terrace Africa, a leading sub

Saharan, property development company that is behind the Village Walk in

Borrowdale and Marondera Main Mall.

Terrace Africa’s managing director, Brett Abrahamse said: “Highland Park is the culmination of three years of planning and hard work and is set

to diversify the real estate in the Highlands area, offer a quality and modern retail

environment for tenants, create jobs and enhance convenience for shoppers.”

A local architect, Architectural Planning Studio and engineering consultant,

Infradesign, collaborated with South African firms on the project.

“It’s a testimony of the capacity and skills that still reside within Zimbabwe and

evidence that the country is still a strong investment case,”  Abrahamse said.

He added: “The value of this project to downstream and ancillary industries including

brick makers, cement manufacturers, steel suppliers, electricians and shop fitters is

immense. It’s made an impact across various sectors.”

There are plans for phase one of Highland Park to be listed as one of the country’s

first Real Estate Investment Trusts (REIT) on the Zimbabwe Stock Exchange under

the Tigere Fund before the end of the year.

Construction work on phase two of the complex, which will feature 25 more shops, is

currently underway with its’ launch planned for April 2023.