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Friday, 12 January 2018
ZPI to construct $13m mall in Vic Falls
Tinashe Makichi and Chipo SabetaZimre Property Investments (ZPI) will construct a $13 million shopping mall in Victoria Falls as the company expands its property portfolio. ZPI managing director Edison Muvingi told The Herald Business yesterday that the company is finalising leases with various tenants. He said the contractor is already on site to start the construction of the mall but the official construction is scheduled for January 15, 2018.
“We are finalising leases with various tenants including TM/Pick n Pay and other international food courts and brands. The contractor is already on site to show our commitment that we want this project. We handed over the contractor on site earlier to do the preliminary works and the demolition works that had to be done on the structures we adopted on site.
“There is no shopping mall in Victoria Falls and this is an opportunity for the company as the first movers. This mall will bring a lot of activity in Victoria Falls,” said Mr Muvingi. He said the designs for the mall have been approved and the Environmental Impact Assessment for the project is in place.
“It is going to be a trading centre where parking will be guaranteed and looking at the current situation people are going to Livingstone to shop at Shoprite among other joints and then back to Victoria Falls. So with the big TM Pick n Pay coming, there will be a difference. We hope to have banks and other service providers,” said Mr Muvingi.
The company is anticipating to do the ground breaking ceremony of the project on February 2, 2018. The move has been necessitated by the recent upgrade of the Victoria Falls Airport as an International Airport.
“Since the upgrade of the Airport, there has been an increase of international travellers which is the reason why we are targeting international brands,” he added.
The proposed project will be strategically located at the corner of Livingstone and Pioneer Road, Victoria Falls. The concept is intended to be more than just a shopping centre but a lifestyle centre in Victoria Falls. The shopping mall will have a floor space of around 5 750m2 with a mix of retail, commercial and entertainment activities.
The wide open embracing concept in front of the car park welcomes the public and absorbs them into various commercial units and the design does not only respond to the site boundary limitations but aims at revitalising the culture, bringing trade without distorting the resort town status. ZPI’s parent company, ZHL has aggressively pursued the objective of achieving a market leadership position in its chosen markets.
This desire resulted in the incorporation of Zimre Property Investments (ZPI) on January 27 2003, following the successful disposal of National Real Estate (Private) Limited (NRE). The objective of its incorporation was to harness and co-ordinate group property development activities, and to manage, maintain, develop and grow the group’s property portfolio. ZPI has since expanded the scope of its business to non-group business, both in the private and public sectors.