22 January 2013

Zimbabwe: Long Cheng Plaza Mall to Be Completed April

THE US$84 million Long Cheng Plaza shopping mall opposite the National Sports Stadium is set to be completed in April. According to an official, the completion of the mall - which is being bankrolled by Anjin Investments - is dependent on weather conditions.

"We expect the construction of the mall to be complete by April, but if the rains continue we may have to extend that timeline by a month," said the official.

The mall consists of up to 100 shops and offices, a supermarket (which is going to be taken up by Spar), a hypermarket that will be operated by Anjin and a hardware shop (also to be run by Anjin). There will also be a nightclub, bar and cinema complex.

When Herald Business visited the site, workers were working on the interior finishes as the exterior of the mall was finished last month. The Long Cheng Mall has already started advertising for tenants.

Rentals for the shops range from US$8 to US$20 per square metre.

According to property analyst Mr Vengai Madzima, the prices are quite reasonable.

"The prices are fair and they seem to be within range. However, prices are generally determined by the volumes of people who will come to shop at the mall," he said.

The construction of the mall and the Defence College has created at least 2 000 jobs while hundreds more jobs have been created at the company's other operations in the country.

During a tour of the Long Cheng Mall site in September last year, President Mugabe said the fact that it was being built next to the National Sports Stadium would change the landscape of the area and make it more attractive to visitors.

The shopping mall will also house an amusement park and boutiques among other infrastructure. A hotel will also be constructed on the site at a later date.

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