HARARE – Jaison Passade, the Zanu PF legislator for Mount Pleasant, has brokered a deal between a key property developer in his constituency Jockstar Investments (Private) Limited (Jockstar) and an odd-300 land buyers in the area.
His successful intervention comes as a group calling itself the Mount Pleasant Heights Residents Association had lodged complaints — about the pace of development at the northern Harare residential — yet major construction works had been completed at the site.
In his keynote address at a Mount Pleasant Hall meeting yesterday, Passade outlined a nine-point strategy based on dialogue, paid-up members being allowed to access their stands and begin construction immediately, and other land purchasers dispensing off their obligations such as the $6 500 development fee.
“The developer requires this critical support and fee to finish roads, and water pipes because of the economic difficulty that the project (Jockstar’s Zizalisari holding) suffered, including sanctions and currency changeover from the Zimbabwe dollar to the multi-currency regime,” he said.
While the paper emphasised that those affected by stand adjustments — caused by survey work and as outlined in various purchase agreements — would be proportionally compensated, roads and water infrastructure installations were at an advanced stage.
Crucially, the anticipated space adjustments would be very minimal and the parties were urged to “withdraw all legal cases and malicious correspondence”.
With a good 150 to 200 buyers or their representatives turning up at Saturday’s meeting, there was also a unanimous agreement that it was important for the purchasers to honour the development fee issue in order for the project to go ahead.
In the meantime, Jockstar’s development fee — necessitated by the prevailing economic conditions — compares favourably with other property developments such as The Grange’s Gletwyn where fees are up to $10 000.
About two weeks ago, observers said government’s new thrust on housing development and infrastructural projects was due to give fresh impetus to property firms like Jockstar.
Although the sector had been constrained by liquidity challenges prevailing in the country, the Harare-based developer’s Mount Pleasant Heights estate was progressing well, officials said then.
“Jockstar prides itself as one of the foremost housing and residential developers in Zimbabwe.
“Even, though, we have encountered some problems and niggling issues… we are rectifying this through constant stakeholder engagement and dialogue to ensure that our projects go ahead,” they said.
As a venture that started well before February 2009’s dollarisation of the economy, Jockstar has been constantly updating investors over new and possible ways of ensuring key amenities, and support infrastructure is in place — an initiative which has the support of majority land buyers in the area.
“We are pleased to note that about 90 percent of our land purchasers have committed to supporting the developer’s efforts in ensuring that the development progresses in earnest,” the company said.