Business Reporter
VICTORIA Falls Exchange VFEX) listed property game-changer developer, WestProp Holdings Limited (Westprop) has seen revenue increasing to US$7,03 million in the first quarter period ended March 31 2024 .
The revenue increase amounted to 11,54 % compared to the Same Period Last Year prompting a payback to shareholder value after declaring a US$857 143 dividend.
A total 72% of the generated revenue was attributed to the groupโs Pokugara Residential Estate townhouses, which generated US$5,05 million in sales.
Westpropโs developments are Millennium Heights, Pokugara Residential Estate, Pomona City (ongoing), The Mall of Zimbabwe, Millennium Heights Office Park and the Hills Luxury Golf Estate.
In a trading update for the first quarter ended March 31, 2024, WestProp finance director Simbarashe Kadye said they were cautiously optimistic about their future performances.
โThe board of directors declared a dividend of US$857 143 for Q1 2024, to be distributed to ordinary shareholders from the retained earnings. A separate dividend notice with details of payment will be published to this effect in accordance with the groupโs Articles of Association and Victoria Fall Stock Exchange listing,โ he said.
โWestprop Holdings has identified several significant projects planned to run concurrently throughout 2024. Notably, the group has initiated the development of two multi-billion-dollar projects Pomona City, a visionary โCity within a cityโ, and The Hills, an esteemed premier golf estate.โ
