MASHONALAND Holdings managing director Gibson Mapfidza has urged fellow industry players to modernise the Deeds Registry given the central role it plays in enabling real estate investments transactions.
The firm recently funded the revamping of sections of the Deeds Registry to the tune of US$12 000.
The Deeds Search Hall was in a deplorable state owing to years of wear and tear as well as inadequate maintenance of facilities.
Mapfidza said the operating environment has been punitive for most businesses in Zimbabwe. The real estate sector, however, has shown some resilience.
“It is upon this context that I call upon fellow industry players to consider partnering the Deeds Registry towards its modernisation and given the central role it plays in enabling real estate investments transactions,” Mapfidza said.
He said they were cognisant that as an industry, they were only as strong as the weakest link in the ecosystem.
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“The Deeds Office was in a dilapidated state, thereby affecting the ability to carry out its mandate effectively. We saw this as a compelling case for corporate social investment,” he said.
“We stepped in to do our part as a player in the real estate industry and we look forward to doing more work for the Deeds Office during the course of the year.”
In line with the fourth industrial revolution, Mapfidza said they needed to support the Deeds Office towards its digitalisation drive where property searches can be conducted online.
“We however need to deal with the hygienic issues first and thus our initial step in partnering the Deeds Office in refurbishing its premises,” he said.
Chief Registrar Willie Mushayi said: “We are excited and appreciative of the noble gesture shown by Mashonaland Holdings Limited. They have shown that as an organisation, they are mindful of the well-being of all the stakeholders in the real estate industry.
“As the Deeds Registry, we play a central role in facilitating property transactions among many other roles. We call upon all the other players in the real estate industry to follow the precedent set by Mashonaland Holdings Limited.
“We have aspirations of revamping this entire building, modernising some of the facilities here and adopting technology-related solutions. This can only be achieved through partnerships of this nature.”