WestProp eyes 1 billion bricks
BUSINESS REPORTER
WestProp is targeting to have laid one billion bricks in 27 years in an ambitious move that will make the real estate developer a pioneer of premium lifestyle communities in Zimbabwe.
WestProp CEO Ken Sharpe said it was not a coincidence the company has targeted one billion, as the company’s designed projects would take “one billion bricks and US$5bn to complete”.
“Every day we are putting bricks into the ground working towards the vision where we know that within the next 27 years we will have laid one billion bricks,” Sharpe said.
He said the company has made strides over the past years with limited resources.
“…As of last Monday, we had laid 5,298,975 bricks and we have 55,626,972 as committed bricks from our existing sales. As the public joins hands with us we can achieve more this year by opening up new markets, new products and fabulous exciting new projects like the Mall of Zimbabwe, the Hills Golf Estate and Pomona City which is about bringing Dubai to Zimbabwe,” Sharpe said.
The real estate developer is in the market to raise US$30m through an initial public offering to finance its pipeline projects that include Millennium Heights, Pokugara Residential Estate, Millennium Office Park, The Mall of Zimbabwe, Pomona City, Warren Hills Golf Estate and a 60-ha eco-park village to incorporate weirs and active and passive recreational amenities including sitting areas, running and cycling tracks.
WestProp’s completed and under construction projects include more than 1,000 residential units namely, Homeland 263, Pokugara Clusters Phase 1 and 2, Pokugara Residential homes/ stands, Gunhill Rise, Pomona City stands phase 1A and phase 1B and C, Millennium Heights Apartments Block 1, 2 and 3.
Its retail development, Mbudzi Market, was completed in 2015 and is operational and fully let.
WestProp has pioneered the concept of off-plan shell units, which has been instrumental in giving customers the flexibility to complete their homes with personal finishes. This approach has been a game-changer in the property development industry, as it has allowed customers to have greater control over the final look and feel of their homes, it said.
It has also introduced the leasehold concept. The concept is beneficial to customers, as it has given them a sense of ownership and control over their properties at a much lower cost.
It has also taken a leading role in developing environmentally sustainable buildings. The company was among the first to implement green buildings, which have become increasingly popular in recent years.
WestProp has been able to reduce its carbon footprint significantly through its commitment to sustainable development practices.
