By Stanley James, Business Editor
PROPERTY investors are targeting viable returns by focusing on long-term projects in the commercial sectors of the economy.
The easing of the Covid-19 restrictions, coupled with massive infrastructure investments and government interventions to stabilise the economy, have presented more investment opportunities in the property sector.
For most developers and investors, it is all about tapping viable real estate opportunities and exploring further residential projects.
“The recovery is there, taking into account what had happened in the past. So, it is all about repositioning the level of investments,” said Sithembinkosi Mbavhumana, a partner of Knight Frank.
Marilyn Mosha, a property developer said, “The retail, office space, shops and malls are dominating the current recovery trajectory which we hope to recalibrate into viable returns.”
“Even the government’s rehabilitation plan has also augured well for the investors as they seek long-term projects,” said Batanai Matsika, an advisor with Property Investments.
“Let us wait and see how it all goes because global shocks and internal shocks are still with us, but for now we remain optimistic,” said Kurauone Chihota, a property developer.
However, players in the sector have raised concern over liquidity challenges, lack of mortgage and exorbitant mortgage lending rates that are beyond the reach of many.
Industrial and residential projects are also dominating investment opportunities within the property sector.
Real estate investments are also being considered important in economic growth in line with the National Development Strategy One aspirations and targets of realising an upper-middle-income society by 2030.