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.
- Herald
