Breaking News

Old Mutual Zimbabwe to develop Hwange Town Centre

by Staff Reporter
03 February 2019 | 1591 Views
HWANGE Local Board has entered into an agreement with Old Mutual Zimbabwe for the development of a town centre, which will encompass the establishment of an estimated US$50 million Civic Centre, an official has said.

Speaking after a tour of various infrastructural development projects in Hwange Town on Thursday, HLB resident engineer, Philip Nguni, said the local authority had awarded Old Mutual the tender to develop a town centre and work at the 12,5 hectare site was expected to commence this year.

The development of Hwange's first Central Business District and Civic Centre was mooted about five years ago but the local authority has over the years been struggling to attract an investor for the project.

"I am glad to say that Hwange Local Board has successfully negotiated with one of the biggest land developers in the country to develop the Civic Centre. We have been on the hunt for an investor for the last five years and I am happy to say that we have actually finalised negotiations with an investor who will be developing our Civic Centre so we are expecting work to start during the course of this year," said Eng Nguni.

A civic centre is a prominent land area within a community that is constructed to be its focal point or centre. It usually contains one or more dominant public buildings, which may also include Government offices.

Hwange has been without a focal point since its founding in 1899, with the apportioning of land being done by big companies namely Hwange Colliery Company Limited (HCCL), Zesa's subsidiary Zimbabwe Power Company (ZPC) and the National Railways of Zimbabwe (NRZ).

The latest development is a major step towards the official according of town status to Hwange. Last year President Mnangagwa directed the Ministry of Local Government, Public Works and National Housing to elevate Hwange to municipal status. Hwange is a local board authority created by statute under the Urban Councils Act, Chapter 29:15.

HLB chairperson Councillor Nqobile Mabhena said the development of a town centre and Civic Centre would go a long way towards attracting investment in the area.




"As Hwange we have vast investment opportunities which needed to be tapped and we expect the development of a proper Central Business District and Civic Centre to lure investors and emancipate the growth of Hwange's economy," he said.

In its report, provisional design concept and bid document, Old Mutual states that the proposed project was expected to be a win-win basis for the two parties.

"Current retail and office rentals in Zimbabwe are extremely low at present. This makes the assessment of economic viability extremely difficult. We have therefore taken a bold view in determining returns on a medium term basis. The value added to the council in respect of rates and revenue should compensate over time for risk-related development in the short term.

"Old Mutual Property serves Old Mutual Life Assurance Company, as well as over 20 pension funds, and therefore there is scope to involve a number of players, depending on their appetite for property investment.

"We trust the council will consider the strength of Old Mutual in deciding to offer the land to ourselves," read part of the report.

The report further reveals that Old Mutual has over the years been involved in various major infrastructural development projects in various areas across the country.

Old Mutual HCCL Hwange Town

Source: Sunday News

Comments

Latest News

'Chief Ndiweni could be poisoned in prison'

by newzimbabwe | 24 August 2019 | 12 Views

Pastor 'expels' congregant for not tithing? - A REVEREND with Church o...

by Staff reporter | 24 August 2019 | 13 Views

Businessman sleeps with own mother to boost wealth - A businessman fro...

by Staff reporter | 24 August 2019 | 6 Views

Afcon renegades blacklisted

by Staff reporter | 24 August 2019 | 3 Views

Tenant locks landlord out of house - A Bulawayo woman regrets offering...

by Staff reporter | 24 August 2019 | 6 Views

Woman miscarries after being kicked over $1,50 - A THREE months pregna...

by Staff reporter | 24 August 2019 | 4 Views

Policeman flees to a toilet for safety - In a dramatic incident a poli...

by Staff reporter | 24 August 2019 | 3 Views

Children accuse mother of witchcraft

by Staff reporter | 24 August 2019 | 16 Views

Woman threatens to kill ex-lover's pregnant wife - There was drama in ...

by Staff reporter | 24 August 2019 | 5 Views

Police crush teachers' demo - POLICE yesterday ruthlessly crushed a de...

by Staff reporter | 24 August 2019 | 11 Views

Illicit brew kills one, 3 hospitalised - One person died at St Alberts...

by Staff reporter | 24 August 2019 | 4 Views

Mnangagwa urges farmers to adopt new technology - President Emmerson M...

by Staff reporter | 24 August 2019 | 5 Views

Mudenda's Gukurahundi remarks ignite storm - A PROPOSAL by Speaker of ...

by Staff reporter | 24 August 2019 | 1 Views

Kazembe Kazembe fights for his party position

by Staff reporter | 24 August 2019 | 1 Views

Chamisa ally to spend weekend in remand prison

by Staff reporter | 24 August 2019 | 4 Views

Man (32) subjects woman (61) to bizarre 'rape ordeal' - A 32-YEAR-OLD ...

by Staff reporter | 24 August 2019 | 13 Views

Zanu-PF Masvingo seeks Zivhu expulsion

by Staff reporter | 24 August 2019 | 1 Views

Technical faults at Hwange cause for prolonged load shedding

by Staff reporter | 24 August 2019 | 6 Views

Econet closes shop in 13 countries - BILLIONAIRE and Zimbabwe's teleco...

by Staff reporter | 24 August 2019 | 4 Views

Kambarami didn't have powers to suspend Town clerk, says High Court

by Staff reporter | 24 August 2019 | 3 Views

Zimbabwe hit by birth control pills shortage - ZIMBABWE is facing a co...

by Staff reporter | 24 August 2019 | 5 Views

BCC disconnects water supplies to defaulting rate payers - BULAWAYO Ci...

by Staff reporter | 24 August 2019 | 1 Views

Zimbabwe under siege once again -  IT'S like deja vu - we have be...

by Editorial - chronicle | 24 August 2019 | 3 Views

Mnangagwa using borehole for votes campaign in Glen View? - Government...

by Staff reporter | 24 August 2019 | 1 Views

Mohadi hails agri-business

by Staff reporter | 24 August 2019 | 1 Views

Mupfumira probe 'complete in 3 months'

by Staff reporter | 24 August 2019 | 4 Views

Entertainment

Top 5 PS2 ISOS to play with friends you can get right now

by Staff Writer | 21 August 2019 | 145 Views

Rebecca Malope retires

by Mandla Ndlovu | 20 August 2019 | 5845 Views

Zimfest delivers another 'phenomenal' festival

by Tidi Kwidini | 07 August 2019 | 640 Views

Should you be betting on reality TV show outcome too?

by Staff Writer | 05 August 2019 | 95 Views

WATCH: Jah Prayzah featuring Iyasa Sadza nemuriwo song

by Mandla Ndlovu | 23 July 2019 | 5732 Views

Muvhango star Marang Phala visits Prophet Sovi's church

by Mandla Ndlovu | 22 July 2019 | 9660 Views

Pure Black set to take Africa by storm

by Mandla Ndlovu | 04 July 2019 | 1004 Views