Sharpe hails Real Estate sector resilience ahead of landmark conference

By Staff Writer

BUSINESS tycoon Ken Sharpe has commended the resilience demonstrated by the Real Estate sector amid preparations for the ZIMREAL conference.  

 The high level event which brings together players from the private and public sectors is set to be held on the 27^th of September  and will run under the theme ‘Thriving across uncertainties’ under which conversations  on how to navigate a tough operating environment .

 THE 2023 edition of the Real Estate and Property   Conference, ZIMREAL is set to deliberate on critical issues bedeviling the sector as it breaks barriers moving into the future.

Kenneth Sharpe, CEO, of West Prop Holdings said the resilience means the sector has the potential to underpin overall economic recovery.

“The growth trajectory for Zimbabwe resides within the real estate sector. Apart from performing its time-honored role of an unmatched store of value, property development has a multiplier effect on the entire construction value chain,” he said.

“For example, it can create employment across the board in allied industries including brick molding, cement and furniture manufacturing, timber and steel supply, amongst others”

WestProp, one of the country’s leading property developers, is the headline sponsor for ZIMREAL for the second year.

“We believe that bringing together private developers and investment experts, who have expertise, talent and the right risk appetite, with Government and public officials, responsible for creating the enabling and conducive policy environment, will see the sector grow in leaps and bounds,” Sharpe added.

Real Estate expert at Frank Knight , Siza Masuku said the event comes at a time when the sector has emerged from a tough first half period of the year which has severely subdued rental incomes.

“However, we have seen a number of corporations, such as financial institutions, channeling significant investments into suburban office developments as a way of hedging their balance sheets.

“There is also intensification by institutional investors and other high-net-worth individuals towards the development of cluster houses showing the resilience of the real sector during this period,” he said.