Biti told the parliamentary portfolio committee on Budget, Finance and Investment Promotion last week that negotiations for the funding of the state-of-the-art building to be located in the historic Kopje area of Harare are already underway.“Negotiations are underway to secure concessionary funding of US$145 million from the China…

The Ministries of Public Works; Science and Technology Development; National Housing and Social Amenities; Information Communication Technology; Transport, Communications and Infrastructural Develo-pment, Water Resources, Development and Management, Public Service; and Energy and Power Development that form the infrastructure cluster, reported between two and five percent progress towards fulfilling…

All the country’s major airports including the main Harare International Airport, Victoria Falls and Buffalo Range Airport in Chiredzi need major refurbishments of their road infrastructure as well as sprucing up their ageing equipment ahead of the World Cup.Civil Aviation Authority of Zimbabwe (CAAZ) chief executive officer, David…

This big difference can be ascribed to the fact that prices of existing houses have been falling while the price of new ones are still growing, even though the increase in building costs decelerated recently.According to Absa’s latest residential quarterly report, the average price of a new house…

“The overall growth in the economy, the level of household income and debt, as well as the medium-term economic and financial outlook, are such that a clear and immediate improvement in the housing market is unlikely. “The best that we can hope for is for price declines to…

“Property values fell sharply soon after the switch from the Zimbabwe dollar to hard currencies. Real estate experts reckon that prices fell by as much as 40 percent since the sector started trading in United States dollars. A town house that would cost US$250 000 in December 2008…

That brings the price of a middle segment house to R929 342, a level last recorded in May 2007. Therefore, any capital growth property owners would have recorded since mid-2007 has now effectively been wiped out. Of course, the average homeowner will still be in the money if…

Chalumbira (38) sits on a chair outside Capello in Main Street, unfussed by my lateness. He’s chosen this place because it’s in the inner city, his territory since he started investing in property eight years ago. Recently he has added the central city franchise to distribute Coca-Cola to…

In its submission to the National Economic Consul-tative Forum (NECF) on June 22, the EAC argued that rentals in the country are way below those in Botswana, Malawi, Mozambique, South Africa and Zambia.“Our rentals are reasonable,” Oswald Nyakunika the chairman of the EAC, said. “But also when compared…

Despite the positive move, the society will retrench nearly 90 employees by the end of next month at its 51 operational branches countrywide.CABS managing director Kevin Terry said the retrenchments had been prompted by the harsh operating conditions bedeviling the country.“There is not enough business in the banking…