Property firm to list on the stock exchange

By Bruce Chahwanda, Political Editor

PROPERTY development firm, Terrace Africa is set to construct three shopping malls in various parts of the country at a cost of US$18 million.

This comes after the company which is set to be listed on the Zimbabwe Stock Exchange constructed Highland Park shopping mall which was officially opened by President Emmerson Mnangagwa this Wednesday.

Zimbabwe’s open for business mantra continues to attract huge investments in the property sector, with the latest being the construction of the US$20 million Highland Park shopping mall in Harare.

Briefing stakeholders at the official opening of the shopping mall this Wednesday, Terrace Africa Managing Director, Mr Brett Abrahamse disclosed that more projects are in the pipeline while the company will be listed on the Zimbabwe Stock exchange before the end of the year.

“Property development is critical for growth and we are part of the vision 2030. We still have 15 retail projects with three malls to be opened in the coming months across the country worth US$18 million. We are supporting the Ministry of Finance and economic development with Terrace set to be listed on the Zimbabwe Stock Exchange before the end of the year,” said Abrahamse.

The Minister of Industry and Commerce, Dr Sekai Nzenza is impressed by the percentage of locally manufactured goods on supermarket shelves.

“Industry cannot happen where there is no infrastructure development, showing development in Industry.  I am happy your Excellency that 80% of basic commodities are locally made, it means that there is increased production which means competition and it enables consumers to buy affordable goods,” said Minister Dr Nzenza.

Zimbabwe is in the modernisation drive with more infrastructure projects taking shape across the country, creating massive employment opportunities for locals.