A $50 million bus interchange is expected to be constructed at Fourth Street bus terminus in Harare after Pearl Properties signed a joint venture agreement with the City of Harare.
BY TARISAI MANDIZHA
Speaking at the company analyst briefing on Thursday, Pearl Properties general manager for developments Christopher Manyowa said the project, which was expected to begin next year, would change the face of the capital.
“The joint venture will see City of Harare contribute the land while Pearl Properties will contribute the funding for the development. The estimated development is at a cost of $50 million,” Manyowa said.
He said the project, which would also include a shopping mall, would be implemented in phases.
The Pearl Properties boss said the bus interchange project would stretch from Fourth to Fifth Street and then Robert Mugabe to George Silundika Avenue.
Manyowa said the Kamfinsa cluster housing development comprising 38 units in Greendale was now almost complete.
He said the units were expected to be disposed of anytime this year.
Pearl Properties Limited is a Zimbabwean stock exchange listed property company investing in prime properties in major towns and cities.
It creates value through property investment and development.
The company has a portfolio covering commercial and retail properties in the major towns of Zimbabwe.
Pearl Properties owns office parks, high-rise buildings in the CBD, retail, industrial premises and warehouses.