Story by Owen Mandovha
ZIMBABWE’s construction sector is experiencing significant growth, with nearly US$2 billion invested in the industry by both local and foreign investors.
Harare is undergoing a rapid transformation, with commercial, industrial, and residential real estate developments emerging throughout the city.
According to the Zimbabwe Investment Development Agency’s (ZIDA) fourth-quarter 2024 report, the real estate sector is projected to attract even more investments this year.
Dr Tinashe Manzungu, president of the Zimbabwe Building Contractors Association (ZBCA), states that the industry has experienced positive growth, driven by investors’ interest in long-term investments offered by the construction sector.
“A lot of projects have been undertaken in the real estate sector which has further given a huge lifeline to the construction industry and the ZIDA statistics are by no way a surprise. The construction industry has also been a huge beneficiary of the huge real estate investments as many projects are sprouting across the country.”
West Properties, a prominent player in the construction industry, is currently involved in several projects, including the Warren Hills Golf Estate and Pomona City in Harare. The Managing Director, Mr Ken Sharpe, stated that the company aims to reach a milestone of producing 50 billion bricks by the year 2050.
“The company is embarking on an ambitious project to construct a brick moulding plant as we are faced with a number of projects that require us to insource bricks. The sector registering tremendous growth as we are undertaking several residential projects,” he said.
In addition, the investment body ZIDA approved several public-private partnerships mainly in road construction used in upgrading the Harare- Nyamapanda Highway.
