Story by Bruce Chahwanda, Political Editor
PRESIDENT Dr Emmerson Mnangagwa has called on players in land, infrastructure development and the real estate industry to accelerate investments that support Zimbabwe’s modernisation.
Speaking at the commissioning of the Greenfields Retail Centre at the Zimbabwe Agricultural Society Showgrounds this Friday, President Mnangagwa said the development was a significant addition to the Samora Machel Avenue development corridor and a milestone in the country’s drive towards commercialisation and improved quality of life.
“I appeal to other players in land and infrastructure development, together with the real estate industry, to take a leaf from Terrace Africa and its partners. Play your part towards the modernisation of our country, including setting up such facilities along our highways, in high density suburbs, growth centres and rural areas. No place must be left behind,” he said.
The project, developed through a partnership involving Tigere Real Estate Investment Trust, Terrace Africa and the Zimbabwe Agricultural Society, reflects growing collaboration between the public and private sectors.
President Mnangagwa commended the stakeholders for unlocking value from the historic Showgrounds, noting that the investment signals confidence in Zimbabwe’s economy.
“The Greenfields Retail Centre is, thus, a testament to my Government’s shared commitment to lift the quality of lifestyles in our country, propel overall economic growth and facilitate people-centered economic empowerment,” he said.
He said the Second Republic’s adoption of a whole-of-government and society approach has enabled strategic institutions to be transformed into dynamic, multi-functional economic zones.
The President also highlighted the role of real estate investment vehicles in driving infrastructure growth, noting that Tigere REIT has emerged as a leading player following regulatory reforms introduced in 2021.
“Today, Tigere REIT is listed on the Zimbabwe Stock Exchange and stands as Zimbabwe’s largest Real Estate Investment Trust,” he said, adding that the firm plans to roll out 12 additional projects by 2030.
President Mnangagwa urged investors to adopt climate-smart and modern architectural designs, while leveraging local skills and innovation. He further applauded the use of locally sourced materials in the construction of the Greenfields Retail Centre, in line with the Buy Zimbabwe initiative.
“Zimbabwe is Open for Business, hence, we stand ready to welcome both local and foreign investors… to take up investment opportunities across our country’s provinces and districts,” he said.
The President noted that the wholesale and retail sector remains a key driver of economic growth, contributing over 11 percent to gross domestic product in 2024, with projections pointing to continued expansion under the National Development Strategy 2 (NDS2).
He also directed the Ministry of Industry and Commerce to expedite the Wholesale and Retail Sector Policy to sustain growth and enhance competitiveness.
President Mnangagwa said developments such as the Greenfields Retail Centre should stimulate job creation, support local manufacturing and promote the uptake of locally produced goods.
“Our goal entails that malls should not be simply full of imported goods, but with quality ‘Made in Zimbabwe’ products, reflective of our nation’s industrial capacity,” he said.
