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ISSUE 89 | ZIMBABWE’S LEADING INFRASTRUCTURE DEVELOPMENT MAGAZINE

ANCHORS MAZOWE DISTRICT'S NEW

COMMERCIAL ERA WITH MODERN MALL

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EAGLE ASSET MANAGEMENT

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PUBLISHER’S MEMO Welcome to this issue, where we follow Zimbabwe’s built environment taking shape one project at a time — from a new retail anchor along the Harare–Kanyemba Highway to a fresh showroom opening in Highlands, and the finer choices of colour, material and finish shaping the spaces in between.

The new space brings together the company’s furniture, fabrics, soft furnishings and interior design offering, alongside Hertex Haus, for which Elite Interiors is the official stockist in Zimbabwe.

The opening marks another chapter for a company that has spent the past two On the Harare–Kanyemba Highway, decades evolving within the furniture Eagle Asset Management has anchored and interiors industry. a new commercial era for Mazowe district. We talk of Dulux, and why warm, natural neutrals are replacing the cool greys Mazowe Walk, the firm’s modern mixed- that have dominated interiors for years, use retail development, has completed as homes move toward warmer, more its first phase and opened its doors, a personal, comfort-focused palettes. multi-million-dollar commitment that sits at the heart of Eagle REIT. On the product side, we look at TIER’s new Optima glue-down vinyl flooring This is Zimbabwe’s first US dollarrange, an extension of the brand’s denominated development REIT and Ever-Last reputation for durable, the first to list on the Victoria Falls Stock natural-look composite flooring suited Exchange. For a district long defined by to both residential and commercial citrus estates and mining, it is a striking spaces, offering specifiers another shift in identity. dependable option for high-traffic environments. Staying with growth along Harare’s Taken together, these stories point northern corridor, Elite Interiors has to an industry building outward and opened its new showroom at Design upward at once — new commercial Quarter, a development opposite Highland Park on ED Mnangagwa Road. nodes taking shape on the city’s edges, and increasing care going into the details that make finished spaces feel considered rather than merely functional.

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While every effort has been made to ensure the accuracy of its content, neither editor nor publisher can be held responsible for any omissions or errors: or for any misfortune, injury, or damages which may arise there-of.

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ISSUE 89

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MARKETING Newton Musara +263 781 421 866 +263 789 532 918 DESIGN, LAYOUT, VIDEOGRAPHY & PHOTOGRAPHY Saul Chidakwa Kudiwanashe Venge Rumbidzai Ruwende Shumirai Shammar John WEBSITE & SOCIAL MEDIA Tapiwa Svondo JOURNALISTS Martin Chemhere DISTRIBUTION Gift Sepi PHOTOGRAPHY CAAST MEDIA GROUP EMAIL US: marketing1@caastmedia.org

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FIND US AT 31 Alexander Rd, Highlands, Harare Zimbabwe Africa

EAGLE ASSET MANAGEMENT ANCHORS MAZOWE DISTRICT’S NEW

COMMERCIAL ERA WITH MODERN MALL 10

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FOR VIDEO

Forty kilometres north of Harare, along the Harare–Kanyemba Highway, a district long defined by citrus estates and mining activity is acquiring a new identity. Mazowe Walk, a modern mixed-use retail development managed by Eagle Asset Management, has completed its first phase and opened its doors, marking one of the most significant commercial investments Mashonaland Central has seen in recent years. For Eagle Asset Management, a licensed investment manager and subsidiary of ZIMRE Holdings Limited, the project represents a practical demonstration of its investment philosophy. The firm manages Eagle REIT, Zimbabwe's first United States dollar-denominated development real estate investment trust and the first REIT to list on the Victoria Falls Stock Exchange. Mazowe Walk sits at the centre of that portfolio alongside Eagle Heights in Victoria Falls, and represents a capital commitment in the region of US$12 million. 11

The completed first phase comprises a retail mall with a range of shops, a food court, medical facilities, entertainment options and modern amenities including ample parking, seating areas and landscaped public space. SPAR Zimbabwe has opened a supermarket at the development, and tenants have been moving into completed units. Phase two is already in the pipeline, with a third phase to follow. A development structured around partnerships The project brought together several parties in a public–private arrangement, with the Eagle REIT acquiring land from the Mazowe Rural District Council to anchor the development. Institutional financing was structured through the Eagle REIT vehicle, with ZIMRE Holdings and Fidelity Life Assurance of Zimbabwe as anchor investors. Gateway Construction served as main contractor, handling construction and project management across the two-year build programme.

Eagle Asset Management believes that the delivery of phase one had cleared the way for the remaining phases, with tenants already taking occupation.

That structure is notable because it addresses a persistent gap in Zimbabwe's property market: the difficulty of assembling long-term development capital for projects outside the major metropolitan centres. By packaging the asset within a listed REIT, Eagle Asset Management has created a route for pension funds, insurers and institutional investors to participate in regional development while retaining liquidity.

Local impact, measured locally The most immediate effects have been felt on the ground. Construction created employment across two years, and several workers report gaining transferable technical skills in the process. "I have been working with Gateway Construction for two years. I learnt new systems like operating a dumper and placing pavers, and I even managed to buy a stand in Chiweshe," one worker told local media. Another described moving into equipment operation. "I now operate a concrete mixer here in Mazowe and have learnt about safety and technical skills in the process."

Residents have broadly welcomed the development. "We are happy with developments happening in this region, especially this building. It's big, state-of-the-art, and will create jobs while giving the area a facelift in line with Vision 2030," said one local resident. Mazowe Rural District Council Chairperson, Alderman John Mudzonga, framed the project in terms of retaining local economic value. "Mazowe is near Harare and the new city, so our standards must match that. The money from Mazowe must be retained locally through such developments," he said.

Timing and location Mazowe Walk's positioning is deliberate. The development sits on the corridor serving as the gateway to Mashonaland Central Province, and its prospects are closely tied to the Mazowe Road Dualisation Project, which is expected to increase traffic volumes through the town considerably. Proximity to Harare, and to the planned new city development, places the mall within reach of a substantial catchment that previously travelled into the capital for formal retail. The site itself was historically agricultural land, characteristic of the wider district. That transition from farmland to structured commercial use is part of a broader urbanisation pattern, though it also raises questions about landuse planning that authorities will need to manage as further phases proceed. Council has indicated that plans are underway to formalise informal trading activity in the surrounding area. Sustainability has featured in the design brief. ZIMRE Holdings has cited Mazowe Walk, alongside Eagle Heights, as an example of green building design introduced through the Eagle REIT, and the group reports its sustainability disclosures against GRI, SASB, IFRS S1 and S2, and Zimbabwe Stock Exchange ESG standards.

What phase one actually looks like On the ground, phase one has taken shape as a crescent-form retail block anchored by a SPAR and TOPS store, its curved facade defined by a tall black steel grid screen cantilevering over glazed shopfronts. The building wraps a circular landscaped car park at the centre of the site, with lawn, low planting and paved walkways giving the development a finished, public-square feel despite the raw red earth still visible at its edges.

Fronting the highway, a cluster of standalone quick-service units has already opened for trade. Chicken Inn operates a drive-thru unit, its charcoal cladding and "MORE LUV" branding anchored by a tall yellow pylon sign visible from the road. Alongside it, a combined Pizza Inn, Baker's Inn and InnBucks outlet occupies a long, darkrendered building with full-height glazing and a striking green-andred "I Love Pizza Inn" mural on its side elevation. A Redan filling station, with its distinctive blue-and-red canopy, completes the forecourt offering, serving both mall visitors and highway traffic. The arrival sequence into the development is marked by an angular blue steel portal spanning the access road, flanked by promotional flags, with pedestrians, vendors and parked haulage trucks along the roadside reflecting the informal trading activity that still surrounds the formal development. Aerial views of the site capture Mazowe Walk's position within the wider valley, framed by the district's granite hills, with the town's residential areas, a school compound and an unfinished multi-storey building visible in the surrounding landscape. Phase 2 will comprise a second inward facing crescent. Phase 3 comprises of residential apartments surrounding the retail development, which are positioned for both long and short stay and enhance natural footfall into the development. What comes next The first phase has already achieved more than 90 per cent occupancy, a strong early signal for Mazowe Walk’s trajectory. This momentum sets a solid foundation, with occupancy and trading performance over the coming years set to build on that early success. A mall’s value to its investors and its community grows through sustained footfall, tenant retention and the surrounding economic activity it manages to catalyse — and phase one has laid that groundwork well. As phases two and three come online, they stand to reinforce Mazowe Walk’s position as a genuine regional hub. For Eagle Asset Management, the project is a proof of concept for a model it intends to repeat. If the returns hold and the community benefits prove durable, Mazowe Walk may well serve as a template for how institutional capital can be directed into Zimbabwe's smaller towns, turning peripheral districts into participants in the national growth story rather than spectators to it.

Mazowe Walk pre-development

qs@gatewayconstruction.co.zw +263 242 778 318 +263 785 886 766 21 Colenbrander Road, Milton Park, Harare.

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TIER Optima – Glue down Vinyl As interior trends continue toward natural aesthetics with long lasting performance, more specifiers and homeowners are seeking sustainable flooring solutions that are both beautiful and durable. TIER’s new Optima glue down vinyl flooring range meets this growing demand and extends the brand’s reputation for high-performance composite flooring.

This new glue down vinyl flooring range complements their TIER Classic and TIER Element click system flooring range, to fulfil market demand for an easier to apply, more cost-effective alternative. TIER Optima is also extremely durable suitable for use in both residential and commercial spaces.

The profile also comes with a textured underside to the core, which ensures maximum adhesion to both floors and walls. This makes it ideal for renovations, whether for residential makeovers, feature walls or commercial upgrades where downtime and dust should be minimalized.

Best of all, there is a visualiser on TIER’s TIER Optima comes with an EIR embossed website where you can easily see how your space will look when selecting any of the finish in a selection of trending natural five different colours available: wood look colours, together with the Golden Harvest Oak, Washed Oak Pecan, long-term performance one has come to expect from TIER, including being Reclaimed Barn Fir, Dark Truffle Oak and Feather Oak Grey. heat, fade and water resistant. It is also impact resistant, as well as being warmer underfoot than ceramics, all important factors to consider when choosing a flooring range to upgrade any home, office, hospitality or other commercial space. The TIER Optima profile has a total thickness of 2.50mm, including a 2.00mm compression core layer featuring your wood grain decor film, and a 0.50mm balancing wear layer, of commercial grade. 30

Simply add a photo or choose from the standard room scenes, to visualise how the space will look with TIER Optima glue down vinyl flooring installed. To explore the full TIER offering or view the new TIER Optima range, visit www.tierflooring.co.za and visualise your next project come to life.

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