Business

WestProp Holdings quarterly revenue hits US$7,03 mln

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 group’s Pokugara Residential Estate townhouses, which generated US$5,05 million in sales.

Westprop’s 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.

“The 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 group’s Articles of Association and Victoria Fall Stock Exchange listing,” he said.

“Westprop 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 ‘City within a city’, and The Hills, an esteemed premier golf estate.”

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