Property sector energised


HARARE – Governments new thrust on housing development and infrastructural projects is expected to give fresh impetus to property developers, including Jockstar Investment (Private) Limited (Jockstar).

Although the sector has somehow been constrained or slowed down by liquidity challenges prevailing in the country, the Harare-based firm’s Mount Pleasant Heights estate is progressing well with most roads at “surfacing stage” and water reticulation systems also being installed.

“Jockstar prides itself as one of Zimbabwe’s foremost housing, and residential developers. Even, though, we have had some problems and niggling issues (in terms of financing, and other logistical issues), we are rectifying this through constant stakeholder engagement and to ensure our projects forge ahead,” said an official with the company.

Apart from fixing and ensuring that access roads are constructed at its sprawling northern Harare structure, the company said in a June 2013 update to land buyers that survey works — by an appointed land surveyor — were also underway.

As a venture that started well before February 2009’s dollarisation of the economy, Jockstar has been in constant dialogue with investors over possible and new funding strategies for such key amenities, and support infrastructure to be installed — an initiative which has the backing of majority stand holders in the area. “The success of the implementation programme hinges on the financial cooperation of our erstwhile partners in quickly remitting their development fees,” they said.

“We are pleased to note that a majority of our land purchasers have committed to supporting the developer’s efforts in ensuring that the development progresses in earnest,” he added.

To this end, Jockstar and its operating partners had appointed a team of competent technical operators led by Tencraft (Private) Limited, the lead contractor, and UP Associates — known for its good hand in the delivery of Innscor Africa Limited’s Bridge Spar in Groombridge.

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