PROPERTY REPORTER
Ken Sharpe, the CEO of Victoria Falls listed WestPro Zimbabwe says the real estate industry has grown rapidly because it exclusively trades in hard currency, particularly the greenback.
Among many other mixed-use premium luxury lifestyle developments, WestProp is the developer of Pomona City, Millennium Park, which includes Pokugara, Millennium Heights, and the soon-to-be Mall of Zimbabwe.
“In the past we were cautious and now we are positive. The real estate is here to stay. Secondly , we have experienced exponential growth in the real estate industry. We sell our property in US dollars. Our sector is one of the few not affected by RTGS currency, no one is transacting in RTGS currency. So, there is no loss of value and people trust it. It has grown,” Sharpe said.
It comes at a time WestPro Zimbabwe hopes to have laid 1bn bricks by 2050.
Sharpe did, however, suggest that vision may be attained considerably sooner.
“Our vision to lay 1bn bricks started a long time ago when I started this business. But in my final year at Harvard Business School, I found that strategy the most important thing in my business.
“We learn that this is the thing that gives people a road map, where they are going to, why they are going there and when they need to get there . So, the vision might not take that long, this can be achieved much earlier than that.
We were really honoured to have the President (Emmerson Mnangagwa) and government officials at our ground breaking ceremony at the Millenium Heights housing project.
So, we don’t have to wait for 2050 to achieve that. This will happen in the next few years,” Sharpe told Business Times.
