Ken Sharpe’s US$3 million Mbudzi People’s Mall now ready for the market

Ken Sharpe’s Mbudzi People’s Market – a shopping mall located near Boka Auction Floors – will be on the market this month having missed the initial target of August. In an interview Augur Investments executive chairman Ken Sharpe said the project will be on the market next week, having slightly missed the initial target of August. “We spent in excess of US$3 million to construct and develop various wares and services on the project which is expected to benefit mainly informal traders,” he said. The project, which is a joint venture between the City of Harare and Augur Investments will comprise over 200 stores and tables ranging from restaurants and take-away units, banking halls and ATM facilities, groceries, fresh fruit and vegetable markets, fresh meat market and pharmacies. Other stores include hardware and building materials, tyres and motor vehicle spare parts, furniture, jewellery and electronic stores, among others. Augur investments through West Property is currently involved in other huge property investments such as the $50mln Pokugara Housing Scheme in Harare’s Borrowdale suburb. This also includes the famed $100 mln Mall of Zimbabwe which is yet to take effect since 2013. Sharpe said the West Group will finance the whole project before looking at options of incorporating locals. “We are looking at completing the project before we engage local partners,” he said. Government last year approved the indigenisation plan for the $100 million Mall of Zimbabwe in a deal that would see indigenous partners acquiring an initial 40 percent stake in the project.

Source: The Financial Gazette

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