Econet InfraCo — the recently listed billion-dollar infrastructure platform company — has acquired a 100-acre site in Victoria Falls, where it plans to build an upmarket ‘Vic Falls Lifestyle Resort’.
The resort will consist of about 40 luxury villas, built for use by high net wealthy visitors to the city, who plan to stay for two weeks or more.
According to InfraCo, the villas will be designed to cater for every whim of a jet set clientele who expect the best. They will be supported by a club house with a wellness gym, spas, restaurants, gift shops, tennis courts and swimming pools.
The facility will have its own 10-bed private hospital and a helipad for quick transfers to the airport.
Equally important, the villas will have their own power and water supply system, with each villa connected to fibre as well as satellite internet access. Security to the facility will be provided by 24-hour guards, with additional security guards assigned to any of the 4, 5 and 6-bedroom villas as needed.
Explaining the vision, Econet InfraCo CEO Fayaz King, said: “We need to attract visitors who spend more time in the city if we are to generate more forex for our economy. That means we must also cater for the high net worth visitor — this is the global trend. We are using our skills in developing high-quality infrastructure to enable this development.”
King said each villa will be offered for sale as an investment to Zimbabweans, who will offer them for onward rental as part of the agreement.
“The owners will be allowed to use them for about a month a year. But they are there to be rented out for 11 months; that is the concept.”
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King said designs had been completed and work is expected to start before the end of the year.
He noted that land for the development was acquired some time back, at the direction of Econet founder Strive Masiyiwa.
“The group chairman has had this vision for a long time, and sees Vic Falls as a jewel for Zimbabwe’s economic revival. He bought this land over 20 years ago but feels now is the time for us to push ahead, which is why InfraCo was created,” he said, adding that there were other projects the company was planning.
