Breaking News

Old Mutual Zimbabwe to develop Hwange Town Centre

by Staff Reporter
03 February 2019 | 1522 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

Zanu-PF youths, armed cops evict family from its mine in the name of M...

by Staff reporter | 26 April 2019 | 1 Views

Pensioners Allowances - Again this government of crooks will always pl...

by Clement Moyo (Mr) | 26 April 2019 | 1 Views

Mnangagwa cancels trip to Malawi

by Mandla Ndlovu | 26 April 2019 | 4 Views

ZANU PF Youth leader resigns

by Mandla Ndlovu | 26 April 2019 | 5 Views

CIO boss dies mysteriously - The sudden death on Easter Monday of a se...

by Staff reporter | 26 April 2019 | 8 Views

Chamisa faces VPs headache

by Staff reporter | 26 April 2019 | 6 Views

'POSA bounces back as MOPA' - THERE has been a public outcry over the ...

by Staff reporter | 26 April 2019 | 2 Views

Mnangagwa's Zanu-PF panics - ZANU-PF yesterday said it was worried by ...

by Staff reporter | 26 April 2019 | 4 Views

Major shake-up in govt hospitals

by Staff reporter | 26 April 2019 | 2 Views

Sex embargo earns wife a hiding - An enraged 32-year-old man from Mand...

by Staff reporter | 26 April 2019 | 3 Views

Cop extorts teen lover of cows - A POLICE officer stationed at Guyu Po...

by Staff reporter | 26 April 2019 | 2 Views

Tsikamutanda killed for failing to reverse spell - A popular Redcliff ...

by Staff reporter | 26 April 2019 | 2 Views

Bosso star fined for 'stealing' a team jersey - HIGHLANDERS FC midfiel...

by Staff reporter | 26 April 2019 | 1 Views

Hooker tosses baby into latrine to save job - A self-confessed 42-year...

by Staff reporter | 26 April 2019 | 1 Views

Cheating man kills wife, shares bed with corpse - A CHEATING Victoria ...

by Staff reporter | 26 April 2019 | 3 Views

Man stabbed over friend's lover sex claim - A MAN from Beitbridge is b...

by Staff reporter | 26 April 2019 | 2 Views

CIO summon Zimbabwe Rugby Union officials

by Mandla Ndlovu | 26 April 2019 | 5 Views

Man dumped after paying lobola

by Staff reporter | 26 April 2019 | 2 Views

780 000 Zimbabwean young women HIV+

by Staff reporter | 26 April 2019 | 1 Views

Indecent proposal ... female tenant walks round house undressed

by Staff reporter | 26 April 2019 | 5 Views

No Zimbabwean referees at AFCON - LOCAL referees have mountains to cli...

by Staff reporter | 26 April 2019 | 1 Views

Teacher knocks pupil's tooth out for failing to solve Maths problem - ...

by Staff reporter | 26 April 2019 | 1 Views

Prophet caught pants down with married woman, ordered to pay 3 beasts ...

by Staff reporter | 26 April 2019 | 3 Views

Man dies after hearing girlfriend eloped with another lover - VIILAGER...

by Staff reporter | 26 April 2019 | 2 Views

ZANU PF wins 1st prize at ZITF

by Mandla Ndlovu | 26 April 2019 | 4 Views

Nurse needed to accompany woman who was eaten by dogs to India

by Mandla Ndlovu | 26 April 2019 | 3 Views

Mnangagwa arrives in Bulawayo in an expensive Dubai jet

by Mandla Ndlovu | 26 April 2019 | 5 Views

WATCH: Satire phone call that sparked Chiwenga's coup

by Mandla Ndlovu | 26 April 2019 | 28 Views

Entertainment

'Bukalanga Gathering 2019 Will Be Spectacular' - Organisers

by Titshabona Malaba Ncube | 26 April 2019 | 3 Views

Madlela to share stage with Shwi, Freddy in SA

by Staff reporter | 23 April 2019 | 366 Views

List of Zimbabwean celebrities who became politicians

by Mandla Ndlovu | 22 April 2019 | 5033 Views

Analysts defend Tinashe Kachingwe

by Mandla Ndlovu | 22 April 2019 | 5182 Views

Charambas drop videos

by Staff reporter | 17 April 2019 | 1335 Views