Urban Rises | Development Portfolio

Commercial Development

Ecobank Zimbabwe – New Headquarters, Borrowdale, Harare Current

Appointed as Project Managers to assist the client in the development of a new headquarters building in Zimbabwe. The brief from this major pan-African bank is to create a statement building in one of Harare’s more desirable suburbs for commercial banking entities.

The brief includes guiding the client through the entire process from appointment of building consultants, through to design development and construction oversight of this major project.

The building is to be designed to provide a suitable modern and comfortable working environment for its staff with adequate recognition of energy efficiency needs and use of sustainable and responsibly sourced products.

EcoBank-map

Commercial

Ecobank Zimbabwe – Branch Refurbishment, Samora Machel Ave, Harare Current

Appointed as Project Managers to lead a team of building consultants to refurbish a branch for one of Zimbabwe’s major banks, in the Central Business District (CBD) of Harare.

This old building is to be partly demolished and requires a complete overhaul internally to provide a spacious banking hall, with staff offices and an updated renovation of the façade of the building also to provide modernity of appearance.

This renovation is to be completed to a vary tight budget and programme to allow that client to take occupation for fit-out and commencement of operations in a matter of weeks.

National Merchant Bank (NMB) – New Headquarters, Borrowdale, Harare Jan 2020

Appointed as Project Managers to lead a team of building consultants to design and construct a new headquarters building for one of Zimbabwe’s major banks, which had previously occupied tenanted premises in the Central Business District (CBD) of Harare.

The building was completed within a very tight budget (US$8.5m) and onerous timetable (14 months), despite the deteriorating economic environment and the many challenges faced in the procurement of materials and labour with erosion of value in the local currency.

The building was designed to provide a building to suit the client’s changing working environment needs, which took cognisance also of the business needs in the relocating from the CBD.

A two-storey retail mall developed in Avondale – Harare’s oldest and best established northern suburbs. The mall was designed and constructed to cater for the considerable demand for good quality retail space in the area, and has been a welcome addition to the cityscape. Styled along the lines of some of the better modern day retail malls, the development comprises 22 retail units in 4,000m2 of space, anchored by Pick n Pay – a major supermarket retailer. Other major tenants include the Barbours Departmental Store, The M Store, Skechers and EnBee. A Pharmacy, Book Store, and various clothing and other retailers take up the balance of space.

The development, which was funded by a mix of debt and equity, was completed within a very tight programme to meet the anchor tenant’s trading requirements. Construction work commenced mid 2014 and the supermarket was opened to the public in Jul 2015. The balance of the space has been largely let and tenants are in the various stages of fit-out. The demand for space currently exceeds the availability by a considerable margin.

Riverside Walk, Harare

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December 2014	December 2014
January 2015	February 2015

2023	2023	2023	2023
March 2015	April 2015	May 2015	August 2015
Pick n Pay Open	2017	2017

Joina City, Harare

The Joina City, one of the largest commercial developments in southern Africa, is a 64,000m2 mixed-use use scheme comprising office, retail and parking. It is Harare’s most significant commercial property development to date, and in the top 5 of privately developed commercial entities outside of South Africa. The Joina City has 45,000m2 of revenue generating space, including 600 basement-parking bays.

We were responsible for assembling the professional team to undertake this project on a design and build basis, and working with the advisory team in the fund raising for this US$90m project. The project funding was provided by a mix of institutional and private companies - several major Zimbabwean Pension funds in participation with FMI Holdings and Kingdom Joina Holdings an investment vehicle of Prince Alwaleed Talal bin Al Saud’s.

Nhaka Parade, Harare

A double storey retail development initiated and constructed on design and build basis within a 12 month period in Central Business District in Harare. The developers capitalised on the two street frontage of the site to create a mini-retail mall, one of the first of its kind in Harare. The project value of approximately US$2million, included land and construction costs. The project, including a full pre-let of retail tenancies, was undertaken on behalf of a major Zimbabwean Pension Fund.

Elsworth, Harare

This property was purchased by an institutional client at auction, with the intention of developing it for use as its group headquarters. The property although located in a prime suburban location had fallen into a complete uninhabitable state. The property was converted from residential to commercial use. The building required structural remedy beyond the cosmetic changes made. The refurbishment also involved substantial electrical and mechanical works, to facilitate effective new use.

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