WestProp mulls US$29m housing projects
A LOCAL property developer, WestProp Zimbabwe has committed to spend about US$29 million on housing projects this year, focusing on Pokugara Phase 2 and Millennium Heights Blocks 2 and 3, an official has said.
WestProp Zimbabwe chief marketing officer Marilyn Mosha told NewsDay Business that the company had a number of upcoming developments, including Pokugara Residential Estate Phase 2 townhouses and Millennium Heights Estate Block 3.
“We are at advanced stages of planning,” Mosha said, referring to Pokugara Residential Estate Phase 2 townhouses and Millennium Heights Block 3.
“At Phase 2 Pokugara, we will have three modern architectural designs with the sizes of the houses approximately 200 square metres.
“The houses include three bedrooms and an option of a garage or carport, with front and back garden areas.
“There will be well planned communal facilities to complement Phase 2,” she said.
Mosha said the Millennium Heights Apartment Block 2 was over 80% sold and had only one bedroomed apartments remaining.
She said planning for Block 3 was at an advanced stage, with the properties expected to be “very modern with upper class finishes.”
The complex will include recreational facilities such as the Millennium Park (lake, trees, and manicured gardens), a walk or cycling track, a play area for children, two swimming pools, tennis court, gym and a clubhouse.
She said the firm was also offering leasehold titles in Pomona City Estates.
“We are in the final planning stages of releasing Phase 1B and WestProp Zimbabwe prides itself for being a disruptive property developer of note in Zimbabwe.
“We are offering something that has never been offered in Zimbabwe before, that which is extremely beneficial to people who want to own a home in Zimbabwe and that is the leasehold concept,” Mosha said.
“A leasehold stand allows you to lease the land from the developer, as opposed to buying the stand which is costly, and puts the buyer at a disadvantage.
“Therefore, the money which should have gone towards the buying of the stand is now used to build your dream home.”
The leasehold concept is popular in countries such as South Africa, Dubai and the United Kingdom. In the Millennium Heights Apartment Blocks, Mosha said the firm had sold 24 units in Block 1 and 80% had been sold in Block 2.-newsday.co.zw
