Investors to capitalise on property forum
VARIOUS investors are expected to capitalise on ZimReal Property Investment Forum scheduled for June 13, 2018 to unlock the country’s multi-billion dollar real estate and property sector as it emerged $400 million has already been invested since the coming in of the new administration.
The forum comes at a time when numerous investors are scrambling for Zimbabwe’s economic sectors due to the open door policy adopted by President Mnangagwa’s administration.
The potential investors are angling to unlock untapped value of the growing sector to create employment and drive economic growth.
Rand Merchant Bank (RMB) official and one of Africa’s top emerging economists and a presenter at the conference, Mr Neville Mandimika, will make a presentation titled “Opening Zimbabwe’s doors to the world” which will focus on what needs to be done to increase the flow of capital into Zimbabwe.
“We estimate that approximately $400 million has already flowed into the country since the changeover, but there are billions waiting at the gate,” said Mr Mandimika.
With his finger on the pulse of Africa’s emerging markets and investor sentiment, Mr Mandimika believes that the elections still hold the key to unlocking international capital for investment.
“The appetite is there, but what investors want to see is how, not who wins the election, but how they are won,” he said.
Africa’s premier investment and real estate development conference producer, API Events managing director Kfir Rusin, said the conference will be a measurement of Zimbabwe’s readiness for business.
“We host multiple conferences each year, and Zimbabwe’s investment stock has risen dramatically in the eyes of the big funds targeting Africa, who use our events to investigate each market’s attractiveness.”
“We’ve received a lot of interest from local stakeholders from both the private and public-sector, which is headlined by the Honourable July Moyo, Minister of Local Government Public Works and National Housing who will deliver the keynote address.
“From the private sector, we have the pension funds, developers and leading regional thought leaders presenting and engaging with one another in high-level panel discussions at this year’s event,” said Mr Rusin.
He continued: “We’re excited to have Neville present at the conference, not only as one of Africa’s top emerging African economists, but also someone who is Zimbabwean and who has a regional and local perspective to offer the market.”
While, much of the capital remains at the proverbial border post; the market’s growing confidence is visible in the number of initiatives planned by the local pension funds, emerging residential developments and new retail centres such as the new Village Walk Centre in Harare.
“If there is certainty round policy for the next couple of years, I think a lot of us would consider returning home and also investing in the short-term.”
With millions of Zimbabweans living in South Africa, Europe and the Americas, the influx of capital and skill could be a major benefit for the growth of the economy,” Mr Mandimika said.
While his focus is strategising how the market will encourage capital inflows, he will also reveal bespoke indicators designed to approximate what the implied exchange rate for the bond note actually is.
The one-day forum will be hosted at the Meikles Hotel in Harare.
This year’s gathering is based on the theme: “New Dawn: Driving Economic Growth Through Real Estate Investment”.
Recognised as Africa’s pre-eminent experts in creating opportunities for networking, deal-making and driving investment in real estate, API Events’ commitment and confidence in Zimbabwe is evident in their decision to host the forum before the upcoming national elections.
ZimReal is one of nine annual conferences hosted by API Events, including, the East African Property Investment (EAPI) Summit (Kenya), West Africa Property Investment (WAPI) Summit (Nigeria), Africa Property Investment Summit and Expo (South Africa), the FrancoReal Property Investment Summit (Senegal), the ZamReal Property Forum (Zambia), Botsreal Property and Infrastructure Forum (Botswana), and the ZimReal Property Investment Forum (Zimbabwe).