Adelaide Moyo, Group Managing Editor 
THE Chas Everitt International Property Group says it is looking to expand its footprint into several new countries across the continent.
This follows the leading real estate firm’s expansion into Zimbabwe to make inroads into the growing luxury property market that is attracting affluent buyers and investors.
Speaking at the grand opening of the group’s office in Zimbabwe, Chas Everitt COO Barry Davies said that despite some challenges, including currency instability and regulatory uncertainties, the group believes that Zimbabwe’s residential real estate sector holds tremendous potential for growth.
“We are highly cognisant of the fundamental role that the real estate and housing sector plays in driving economic development, and we strongly believe that our entry is more than just a business expansion; it is a vote of confidence in Zimbabwe’s future,” Davies said in the capital this week.
He said Zimbabwe’s residential real estate sector is expected to be worth over US$85 billion this year and grow at an annual rate exceeding five percent.
“Our decision to expand into Zimbabwe is a testament to the country’s steady economic recovery and its rapid growth in key industries such as mining, tourism, and agriculture,” he said.
“The surge in diaspora spending, coupled with government policy reforms and infrastructure developments, has created a thriving property market that is attracting affluent buyers and investors from around the world.”
He added that the group will cater to the growing demand for prime residential properties in suburbs such as Avondale, Borrowdale, and Mount Pleasant.
Chas Everitt will provide real estate services including sales, leasing and property management in the country.
Over the last two decades, Chas Everitt has spread its reach to 72 countries, 550 companies, and 4800 offices.
Speaking at the event, permanent secretary for Legal Affairs, Vimbai Nyemba, said Zimbabwe strives to create an enabling environment that attracts investors.
“Our ministry plays an instrumental role in shaping Zimbabwe’s economic trajectory by ensuring that our legal frameworks are conducive to investment while also safeguarding national interests,” Nyemba said.
She highlighted that legal certainty, contract enforcement and protection of property rights are critical factors in maintaining investor confidence.
“We are steadfast in our commitment to strengthening Zimbabwe’s legal environment and upholding the rule of law there by creating a stable and predictable business climate,” she said.
Nyemba commended Chas Everitt for establishing its footprint in Zimbabwe, highlighting that it is a clear testament of the confidence that international investors have in the country’s resilience, potential and unwavering commitment to economic transformation.
