Plumtree Town Secretary Mr Davis Luthe digs with a pick into the ground to mark the ground breaking ceremony by ZB bank to build medium and high density houses in Plumtree town yesterday, on the left is the ZB bank group CEO Mr Ron Mutandagayi holding a shovel to assist, Mangwe district council chairman Mr Mafesi Ncube and the district administrator Mr John brown Ncube on the right.....Pic By Dennis Mudzamiri....

ZB begins work on Plumtree stands

Tawanda Musarurwa  Property Reporter
Diversified financial services group ZB Financial Holdings, says it has started work on its Plumtree residential project that consist of 708 high and medium density stands.

ZBFH’s group projects and property development is a department within the holdings company, which is responsible for the property investment boutique.

The property portfolio currently comprises of over 40 000 square meters of commercial space valued at approximately $60 million.

With work on the ground having begun at Plumtree, ZBFH chief executive Ron Mutandagayi told shareholders at a recent AGM that selling of the stands is now close, despite earlier challenges.

“The group commenced works in Plumtree for the servicing of 708 high-and-medium-density residential stands. Selling of the development will commence in due course,” said Mr Mutandagayi.

“The project was initially planned for delivery in April, 2018. However, delays were experienced as a result of unforeseen cost escalations that occurred in September, 2017.”

At the beginning of this year, ZBFH announced that it had set aside $10 million for the purchase of land banks across the country that will be serviced for the resi­dential market.

 

Source : The Herald

Check Also

Tobacco farmers pocket US$460m

Ishemunyoro Chingwere Business Reporter Tobacco farmers have been paid the equivalent of US$460 million, using …