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ZIMBABWE’S property investment landscape continues on a strong growth trajectory, with the latest development being the launch of the Seatrite Five Trust — a Real Estate Investment Trust (REIT) managed by Nhoro Asset Management. The trust is raising funds for the development of a 148-apartment hotel in Borrowdale, Harare, to be operated under the Radisson Hotels brand, marking the group’s first entry into Zimbabwe.

According to the trust, “We are selling units in a Trust, Seatrite Five Trust, which is a Real Estate Investment Trust (REIT) to be listed separately on the Victoria Falls Stock Exchange (VFX). Through this vehicle, investors will gain exposure to and ownership of an apartment hotel operated by one of the largest hotel groups in the world, Radisson.”

The Seatrite REIT is offering 27 144 units, with proceeds earmarked for the construction of the Radisson Apartment Hotel Harare (Block Five). Construction is scheduled for completion by May 2027, with operations set to commence immediately thereafter.

“The unit cost of Seatrite Five Trust on launch will be US$500 per unit, and we are offering 27 144 units,” the trust explained. “The project will be revalued quarterly to reflect the estimated market value of the completed building, and the unit selling price adjusted accordingly. This offers the advantage of capital appreciation for early investors.”

The purchase price of the building by the trust is pegged at US$13,5 million, translating to approximately US$91 000 per furnished apartment — a figure the trust describes as extremely attractive.

The property will occupy a 7 794m² stand in Borrowdale, with a total built-up area of 9 860m². The apartment mix comprises 136 studio units, 11 one-bedroom units, and a single three-bedroom apartment. All units will be furnished to Radisson’s international standards.

The operator will be Radisson Hotels, one of the world’s largest hotel groups, ensuring global brand recognition and access to international booking networks.

“The apartment hotel will be operated by the Radisson Group, a well-known international brand, as its first entry into Zimbabwe,” the trust noted.

The facility is also designed with sustainability in mind. The trust stated that the development will be self-sufficient in water and electricity, in line with its sustainable future mantra.

The trust is projecting attractive returns for investors. Based on Radisson’s profit and loss forecasts, annual income yields are expected to grow steadily from 7,5 percent in year one to 14 percent by year ten.

“Depending on occupancy, we could see returns exceeding 16 percent — unrivalled in the market by dividends from property companies and comparative REITs,” the trust said. “We will, however, guarantee a first-year yield through a Trust Reserve Fund at eight percent.”

Forecast yields are based on room rates ranging from US$125 to US$158 per night and occupancy levels between 53 percent and 73 percent. For context, comparable facilities in Borrowdale currently charge between US$65 and US$250 per night, placing the Radisson Apartments competitively within the market.

One of the key rationales for floating Block Five as a trust is to broaden market access.

“We floated Block Five as a Trust to open our products to another part of the Zimbabwean market that cannot afford to purchase property,” Seatrite explained. “This gives the investing public a legacy investment within the property sector and allows investment into an international hotel project previously denied to the Zimbabwean investing public.”

The REIT structure also brings tax benefits. Once listed, all rental income will be tax-free — particularly advantageous for pension funds. By law, 80 percent of net rental income must be distributed annually to unit holders.

So far, more than half of the units have already been taken up. 

“More than 54 percent of the issue is already subscribed, and we will be looking for a further US$6 million from the market,” the trust revealed.

Units will be listed on the Victoria Falls Exchange (VFX) once the property is operational, giving investors liquidity and the ability to trade their holdings. 

Investors are locked in for the 24-month construction period, but quarterly valuations are expected to deliver steady capital appreciation before rental income begins flowing.

The Seatrite REIT represents a significant milestone for Zimbabwe’s property sector, combining global hospitality management, a tax-efficient investment structure, and exposure to a high-value asset.

As the trust summed up, “Through the REIT investment, you have been invited to partner with Radisson Hotels and are secured by an extremely marketable 148-apartment building. Yields are based on conservative forecasts, and investors can look forward to both capital appreciation during construction and steady rental income thereafter.”

At US$500 per unit, the Seatrite REIT is positioning itself as an accessible entry point for both institutional and retail investors seeking exposure to real estate with global brand backing.—Zimpapers

Raymond Jaravaza, Zimpapers Writer

THE Government has intensified efforts to modernise Zimbabwe’s transport network, with the Matabeleland region set to benefit from a major road rehabilitation drive. The project, which is part of a nationwide initiative to improve connectivity, is expected to unlock economic opportunities in rural provinces.

Work on the Bulawayo-Nkayi Road is progressing rapidly, with a recently rehabilitated section linking Bulawayo and Inyathi now open to motorists. Contractors have completed critical work near Turk Mine, priming and laying gravel on a section of the road in the final stage before tarring.

After touring the road on Friday, Minister of Transport and Infrastructural Development, Felix Mhona, said the Government was committed to upgrading the country’s entire road network.

“Government has taken a deliberate approach to accelerate road rehabilitation projects and kilometre by kilometre all the critical roads that were previously not attended to will be upgraded. With the advent of the Second Republic, under the leadership of President Mnangagwa, we are seeing that unlike in the past, the rehabilitation of roads is moving with speed.

“I want to assure the people of this region that the road will be upgraded right into Nkayi. Working together with Zinara (Zimbabwe National Roads Agency) and the private sector, the ministry has mobilised resources. I came to tour the project as a way of also assuring the people of Matabeleland that the region is not forgotten; we will make sure that the critical roads in the region are upgraded,” he said.

Minister Mhona also highlighted that the Government is forging ahead with infrastructure projects using local resources due to sanctions imposed on the country.

“The President has said because we can’t access funds from the World Bank, IMF (International Monetary Fund), and other international funds due to illegal sanctions imposed on Zimbabwe, we have to raise funds from the domestic purse for infrastructural developments, and that is precisely what we are doing.

“The contractor started working about two weeks ago and the progress so far shows that the rehabilitation project is moving with great speed. It’s important to understand that the country has 10 provinces and the mandate of the ministry is to administer the limited resources that we get for road rehabilitation projects in all corners of the country,” he said.

Regarding the Bulawayo-Victoria Falls Road, Minister Mhona said upgrades were progressing well, with five contractors on site. He noted the road’s importance to the tourism sector and the economy.

“Quality is of paramount importance because we don’t want to come back next year after the rainy season and find the road littered with potholes,” he said.

Bubi Rural District Council Chief Executive Officer, Dr Patson Mlilo, said the improved road would be a game-changer for investment.

“The road is just 60 kilometres long from Bulawayo to Inyathi Business Centre, but it took close to two hours to travel, so it’s not a secret that investors will shun such an area. We hope that when the rehabilitation works are complete, investors will start taking an interest in our rural district council. As a rural district council, we want to see wholesalers, manufacturers of different commodities, and suppliers of fresh products such as bread and milk coming here for business, and that way our local economy will grow,” Dr Mlilo said.

Bubi legislator and Higher Education Deputy Minister, Simelisizwe Sibanda, said the area would benefit economically.

“It’s difficult for businesses to invest in an area with a bad road network, and because of the improvement that we are witnessing on the Bulawayo-Nkayi Road, we will see a lot of investors coming into the district.

“The coming of businesses will eradicate monopoly by the few players that have established businesses in the district, and that in turn will result in competition, causing prices of goods and services to go down,” said Deputy Minister Sibanda.

He noted that high transport charges on the route would drop as more operators are attracted to the improved road network.

“The transport fares from Bulawayo to Nkayi are high simply because we have fewer public transport operators who are plying this route.

“When more players come in, transport fares will drop, and people will have more disposable income to channel to other needs,” he said.—Zimpapers

WINDMILL Limited, involved in the production and supply of fertilisers and agrochemicals, has raised an alarm over the fraudulent activities of a group of individuals purporting to sell residential stands on its land property, Lot FA Kinvara, in Westgate.

The disputed land, measuring 65,2436 hectares, is being fraudulently marketed under the name “Tsikwi Phase 1 (Westgate Extension)” activities by Aspire Mutingwende, Taremedzwa Kapungu and their associates, operating through Redrev (Pvt) Ltd and other fronts.

“These individuals are land barons and have no legal authority to sell, allocate, or advertise this land on behalf of Windmill.

“Further to that, on 7 August 2025, the High Court of Zimbabwe, under Case No. HCH3919/25, issued an urgent order directing Taremedzwa Kapungu and all persons acting through or on their behalf, including Aspire Mutingwende, to vacate the property immediately, failing, which the Sheriff of Zimbabwe has been authorised to enforce the eviction.

“Members of the public are therefore strongly warned against entering into any agreements, making payments, or committing to stand allocations being offered by these individuals or their representatives on the Windmill land,” Windmill said in a statement.

It added that engaging with them exposes home seekers and investors to serious financial loss and future legal disputes, as any such transactions are null and void.

Windmill said it was working closely with the Zimbabwe Republic Police (ZRP), the Sheriff, and other relevant authorities to enforce the High Court order and protect the public from these fraudulent schemes.

Land barons have been causing havoc in urban areas, fleecing desperate home-seekers; however, the Government has always warned against land barons who continue to parcel out land to unsuspecting home-seekers countrywide.

The Government has reaffirmed its position that all urban land should be distributed through legal entities in conjunction with local authorities.

Windmill is Zimbabwe’s largest fertiliser producer, as well as the largest manufacturer in southern Africa, outside South Africa.

According to the Windmill chief executive Mr Kudakwashe Mundowozi, the company is producing between 7 000 and 9  000 tonnes of fertiliser monthly, with output calibrated to seasonal demand and raw material availability.

In a recent interview, he said the company is also exploring export opportunities into the region and developing enhanced product lines, including stockfeed variants, veterinary supplements and biological input lines.

Zimbabwe’s fertiliser industry has faced challenges, including declining production capacity due to foreign currency shortages and reliance on imports for some raw materials.

However, the country has a well-developed fertiliser industry with local production of phosphate fertilisers and ongoing efforts to increase local production of other types of fertilisers and reduce reliance on imports.

The current demand for fertiliser averages 630 000 tonnes a year, including compounds, blends and top dressing, with 330 000 tonnes for compounds and blends and 300 000 tonnes for top dressing.—Zimpapers

By Kuda Pembere

There is an outcry from land developers in Zimbabwe’s housing construction industry, with claims that banks are stripping away their profit margins.

The contractors said the institutions are straying from their core mandate of funding.

The issue came up at last week’s annual Construction Industry Association of Zimbabwe (CIAZ) conference, after it was mentioned that financial institutions are actively seeking housing projects to fund.

For Zimbabwe Global Investments (ZGI) Chief Executive Tendai Hlupo-Mamvura, the role of banks should remain that of providing funding, not taking over projects. She said developers are finding projects financed through banks more expensive than those awarded via competitive tender.

“My question to the presenter, who happens to be my neighbor here, is the origin of the separation of responsibilities, and all that was to create checks and balances along the way. Now you put in everyone in her one house; how do you ensure equity? Because, practically, there is outcry to say the project that has been done through a bank process tends to be more costly than the ones that are going through competitive tender. How do you respond to that? she said.

She said starting a housing project journey with a bank has led many land developers to complain of thin margins.

“There is one question again, the question I just want to ask regarding the collaboration with banks. I don’t know how many people here have attempted to engage banks at the inception of projects. A lot of the time the banks have actually become sharks, and when they become your partner, they literally take most of your margin away, and you’re actually left working for the banks.

“It’s like sometimes when people are also doing developments, where a developer comes and takes a piece of land and then they say, ‘Oh, we’ll give you three units,’ and then they walk away with a development with 20-something other units, and the owner of the land is left with nothing.

“I think it would be good to also sit at the table with the banks and remind them that their main responsibility is funding, not what, in the past, they’ve been called: nefarious activities. Where the banks themselves end up either charging you an interest of 52 percent per annum, which is not sustainable, or they are taking the project away from the developer such that the developer is effectively working for the bank,” she said.

Zimbabwe Institute of Quantity Surveyors (ZIQS) president Audily Chatora weighed in stating banks should stick to lending and leave construction to developers.

“It is only in Zimbabwe where you find banks developing. Banks’ core business should be to keep our money and lend money to developers to develop. If banks are doing that business and they want to be consultants, they want to put up construction teams, they are offline, and it should not even be allowed to continue. Say, with all due respect, your core business should be to keep our funds and loan out money for development projects, not for you to be partners in the context that we are doing at the moment, which eventually gives you a huge percentage of equity in an investment.

“This is what has been happening on the ground, and we are saying to our government, because we have taken and brought it to this conference, please relook at these. Streamline banks to go to their core business, and allow developers to do their core business,” he said.

National Building Society chief housing officer Engineer Peter Mukome defended the partnerships, saying banks are not “extracting value” but offering complementary resources, such as funding and land, to developers with skills and capacity.

Martin Chingaira, Chief Executive of the Construction Industry Federation of Zimbabwe (CIFOZ), said banks had approached the organisation expressing interest in partnering on housing projects.

“Then, coming to the issue of banks, these banks are the ones coming to our organization to say, ‘We would want to work with contractors who need funding when they’ve got bankable projects.’ So it’s a question of either you engage the bank through the feasibility study which we have, and they will see the bankability of the project, and you structure a deal which is a win-win situation. I think it can be done, but they are the ones coming to the Association looking for contractors.

“Then, over and above, we have got another organization called Export Credit Guarantee Corporation (ECGC) which is under Mutapa. Before last year it was under the Reserve Bank. It is also saying it would want to work with investors who may need funding and other guarantees.

“They can look for funding themselves on a project which they are engaged in. So I think these meetings are needed whenever there is a bankable project,” he said.

Export Credit Guarantee Corporation (ECGC) representative Wellington Siyamachira said his organisation has signed agreements with banks to provide security guarantees for developers lacking collateral, enabling more projects to proceed.

WORLD CONSTRUCTION NETWORK—CRH, a provider of building materials, has agreed to acquire Eco Material Technologies, a North American supplier of supplementary cementitious materials, for $2.1bn.

Upon completion, the business will continue to operate under the name Eco Material Technologies, a CRH Company.

CRH CEO Jim Mintern said: “This strategic acquisition further positions CRH as a leading cementitious player in North America with both cement and SCM [supply chain management] capabilities.

“This transaction demonstrates CRH’s disciplined approach to capital allocation, building market-leading positions in higher-growth markets with secular tailwinds and superior returns.

“As we continue to modernise North America’s infrastructure, this transaction secures the long-term supply of critical materials for future growth and puts CRH at the forefront of the transition to next-generation cement and concrete.”

Headquartered in Utah, Eco Material Technologies manages a comprehensive network of operations, including fresh and harvested fly ash, pozzolans, synthetic gypsum, and green cement.

Its distribution spans over 125 utility source locations, production facilities, and terminals. The company collaborates with major electric utilities to process and recycle approximately seven million tons of fly ash and three million tons of synthetic gypsum annually. Additional capacity is currently being developed.

Eco Material chair and CEO Grant Quasha said: “Eco Material is excited to enter a new phase of growth, partnering with industry leader CRH to enhance our scale and suite of offerings to our utility partners and ready-mix customers.

“CRH’s strong industry presence, coupled with its intense focus on safety, innovation and customer service pair perfectly with Eco Material’s key values.”

The deal is subject to regulatory approval and standard closing conditions, with an anticipated completion date in 2025.

CRH plans to finance the acquisition using available cash and anticipates no impact on its credit ratings.

NEWSDAY—Three Harare-based suspected land barons were on Monday arraigned before Harare magistrate Ruth Moyo facing fraud charges involving US$320 000 after they allegedly distributed stands without proper authorization.

Tafadzwa Runesu, Siblinsiyo Mutiza and Ramos Masize were remanded in custody.

They are expected to return in court today for bail application on Tuesday.

The court heard that on unknown date but from 2022 to 2025, the three accused persons duped unsuspecting home seekers at Lot 14 Spitzkop Zvimba, a private entity represented by Khumbulani Magama.

It is alleged that the suspected land baron suspects told the home seekers that there were the lawful land owners of the land before issuing the victims with receipts to the privately-owned plot.

Due to the misrepresentation the trio allegedly fraudulently acquired US$320 000.

CONSTRUCTIONNEWS UK—The construction industry has seen a lot of change in the last couple of decades, whether it’s changing from manual to digital tools or letting go of unfair terms and conditions and finally giving subcontractors some authority. However, what the industry can’t seem to shake is its sexist attitudes.

“I still get men asking, ‘Is there a man in charge I can speak to?’”

While there have been efforts in recent years to encourage female applicants and broaden skill sets, senior leaders still fail to challenge and mitigate the risks male workers pose when they don’t treat colleagues equally and with respect. As a result, actions are repeated and victims are left in the dark – or quit altogether.

Being one of the few female managing directors in my industry has, unfortunately, invited unwarranted and outrageous comments and behaviour. For example, in June I did a LinkedIn post discussing unfair contracts and received a comment from a business owner saying “sort your eyebrows out girl they are shocking”. Whether online or offline, women can’t escape unnecessary comments that seek to undermine us.

When working in my office, I still get men asking, “Is there a man in charge I can speak to?” and then being surprised when they are in fact speaking to the person in charge. Negotiating contracts is stressful enough, but adding being a woman into the mix makes the process more tiresome.

Refuse to excuse

Despite climbing up the ranks and building a reputation as a reliable and dynamic leader, some men can’t get past the fact that I am the person who makes the decisions. Some people like to pretend that gender doesn’t matter or think it’s not a big deal, but it is, and for too long we have allowed women to face abuse alone.

In most industries, complaints trigger a formal process: HR involvement, documentation and a clear path to resolution. But in construction and trades, that structure is often missing. As a result, serious concerns can be overlooked, and responses lack the empathy and accountability they deserve.

A Unite survey shockingly revealed 31 per cent of women construction workers had been sexually assaulted at work and 54 per cent had been inappropriately touched. These figures are devastating, but sadly not surprising.

When inappropriate comments and outdated attitudes are tolerated, they create the conditions for assault and harassment to thrive. This industry needs to stop defending the indefensible and start listening, acting and protecting. We need leadership at every level that refuses to excuse or ignore this behaviour. That means real consequences for offenders, mandatory training, and safe ways for women

Real solutions

It’s time to stop sweeping this under the rug, and commit to creating environments where women feel respected, safe and valued.

This has started to happen when it comes to mental health in particular. The statistics in construction are horrifying, but thanks to social media and a greater emphasis on mental health in general, more people are speaking out and seeking help from peers and their company. The work has only just begun, though, and support could go a lot further to lift employees who are struggling.

With an industry desperately clinging to recruits and some companies at risk of insolvency, a unified approach is needed to implement real solutions that can translate across businesses in all sectors and put an end to sexist behaviour. Designated workshops, holistic benefits, stringent HR procedures, effective mental health support, increasing the number of female leadership positions – they all play a part in reducing barriers and fostering a positive culture that recognises all employees and their contributions.

Written by Lauren Walker who is the managing director of Aluminium Fire System