THE Zimbabwe Stock Exchange-listed property investment and development company, Mashonaland Holdings Limited (Masholds) says Pomona Commercial Centre, a US$15 million property gem under development in Harare, is 65% complete.
Masholds board chairperson Grace Bema said the property was on schedule for completion in October.
She said about 60% of space at the facility have already been taken up.
Bema made the remarks in an address to the 2023 Director of the Year Awards (DOYA), which were held in Harare recently.
The property giant bagged four awards at the ceremony - director of the year–listed companies, board of the year, chairperson of the year, and overall director of the year.
Masholds was crowned the biggest winner for this year’s DOYA edition.
“This recognition from IoDZ comes at a pivotal moment as we accelerate the implementation of our portfolio diversification strategy,” she said.
“This year, we handed over the Van Praagh Day Hospital to the operators who intend to open the facility in Q3 (third quarter) 2024. We also handed over the MashView Gardens project to the off taker in May 2024.
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“Our flagship development, Pomona Commercial Centre is at 65% completion level and on track for full completion by October 2024. The US$15million Pomona Commercial Centre development project has proved an attractive destination for tenants with the facility having secured 60% occupancy level well before its completion.
“All these projects and others in the pipeline are set to unlock additional value for our shareholders.”
Bema noted that Masholds was on a growth trajectory, having recorded 24% uplift in its revenue, in United States dollar terms, for the period to May 2024.
The DOYA awards were introduced by IoDZ in 2005 to recognise and celebrate the outstanding achievements of directors and boards across various sectors in Zimbabwe.
The scope of the awards covers a wide-range of categories, including chairperson of the year, director of the year (various sectors), corporate governance, sustainability, and more.
Annually, a committee of adjudication from IoDZ gathers to select outstanding individuals and boards based on rigorous criteria that assess both individual and board performance in areas, such as leadership, strategic direction, corporate social responsibility, and contribution to the organisation's success.
The DOYA awards are highly regarded in the Zimbabwean business community, and they serve as a benchmark for excellence in corporate governance and leadership.
Winning the award is a prestigious recognition for individuals and organisations alike.
Masholds is a leading property investment and development company in Zimbabwe, with a diverse portfolio of residential, commercial, and industrial properties.
The company is committed to providing quality, affordable housing and creating vibrant communities that contribute to the socio-economic development of the country.
