CBZ Holdings is planning a major expansion of its property portfolio, leveraging a pipeline of commercial, residential and logistics projects to fully capitalise on its land bank and investment management capabilities.
The group said it intends to play a more significant role in the property market, where it believes growth opportunities are emerging across major urban and development corridors.
Group chief executive Mr Lawrence Nyazema said they had historically underplayed their potential in property despite having a sizable balance sheet, a substantial customer base and strategic land holdings.
“If you look at CBZ Properties, I have said for the longest time, they are not where ideally they should be,” Mr Nyazema said during an analysts briefing on the group’s financial results for the half year ended June 30, 2026.
“You have a group whose balance sheet is almost US$2 billion. You have a bank that has got more than a billion in deposits, between half a million and a million customers. We cannot be playing second fiddle the way we have been doing.”
Mr Nyazema said the group was now preparing to accelerate property development, with several projects expected to take shape in the coming months.
“There are going to be significant developments when it comes to property. The first one is we are looking at our own projects. We have a decent land bank as CBZ,” he said.
One of the flagship developments will be undertaken at the group’s Kebab Centre site, which Mr Nyazema described as one of the most strategic remaining commercial land parcels in Harare.
CBZ owns about 16 hectares of land stretching from the ED Mnangagwa Highway on the northern side towards Samora Machel Avenue.
The site is strategically positioned amid growing investment along the northern Harare corridor, with the proposed extension of the airport road expected to bring additional connectivity to the area.
Mr Nyazema also pointed to the proximity of the African Export-Import Bank’s regional headquarters, which is nearing completion, as another factor enhancing the attractiveness of the location.
“We have 16 hectares of prime land, starting from ED Mnangagwa Highway on the northern side to Samora Machel.
“We are going to be developing that piece of land and work will start in the next couple of months,” he said.
CBZ also intends to develop a mixed-use commercial property at the site, drawing inspiration from established developments in South Africa.
“We have in mind something similar, if not better, to Melrose Arch in South Africa. We think we can do it. We think we can deliver it,” Mr Nyazema said.
Melrose Arch is a prominent mixed-use development in Johannesburg combining commercial, retail, hospitality, residential and leisure facilities.
CBZ also plans to enhance its property interests in Pomona, where it owns about one hectare of undeveloped land adjacent to its Pomona offices.
The group is working with one of its partners and shareholders, NASA, which operates a food outlet at the site.
Mr Nyazema said the proposed Pomona Links development would integrate the existing food outlet with the undeveloped land and modernise the wider property.
“Between the food outlet and the one hectare of undeveloped land that we have, we want to do Pomona Links, which is to link the two, modernise the food courts and ensure that we have a modern property there,” he said.
Beyond commercial developments, CBZ is also targeting the residential property market through partnerships with established players in the sector.
In Bulawayo, the group is involved in a project to develop about 200 hectares of land near the Umguza River along the route from the airport.
“We are also looking at that and we believe it’s another prime spot that is ready for development. We are working with some of the most reputable players and partners when it comes to the property industry,” Mr Nyazema said.
The group is also considering significantly larger residential developments, including a potential project involving about 1 920 hectares along the Masvingo Road, just after the toll gate.
Mr Nyazema said the scale of the land could support a substantial mixed-use development, potentially accommodating thousands of housing units.
“If you look at 2 000 hectares, that’s almost 20 000 houses that you can put there. Obviously, mixed development,” he said.
CBZ is also involved in a development at Northgate, where about 1 000 hectares are being considered for development, while the group is monitoring opportunities presented by the development of the new capital city.-herald
