The Sunday News
Wilson Dakwa, Business Reporter
POST Properties, a subsidiary of Zimpost, is set to invest about $5 million towards remodelling its commercial properties to provide trading space for Small to Medium Enterprises at selected Post Offices.
Post Property acting general manager Mr Hope Tembo said in an effort to eliminate under-utilisation of the parastatal’s properties, Post Properties will create trading space for SMEs at selected Post Offices.
“We have budgeted $5m to create SME offices and in an effort to address the under-utilisation of our properties while unlocking value, Post Properties is creating trading space for SMEs at selected Post Offices such as Harare Main, Bulawayo, Mutare and Chivhu Post Offices,” said Mr Tembo.
Mr Tembo added that office space has already been created at the Harare Main Post Office and the parastatal was working on obtaining capital needed to renovate the other buildings.
“To date, we have created office space for SMEs at Harare Main Post Office which used to be occupied by a single tenant but now accommodates a number of SME’s. Plans for more SME offices/trading spaces have been drawn and we are now putting together the necessary funding so the projects can start,” he said.
Post Properties has over 600 properties with 230 being Post Office buildings and over 400 residential properties spread across the whole country.
Post Properties was incorporated in July 2015 in terms of the Companies Act and licensed by the Estate Agents Council of Zimbabwe in June last year to be a fully fledged real estate company offering property management, development sales and valuation services to third parties.
Mr Tembo said the completion of the renovations was subject to approval by local authorities and availability of funding although they plan to finish the Harare, Mutare and Bulawayo projects before year end and complete the Chivhu next year.
He also highlighted that Post Properties will compete in the wider real estate sector’s third part business such as property sales, property development, valuation and consultancy.
Mr Tembo said the parastatal was also lining up bigger projects such as the proposed Borrowdale shopping mall and a 100 bed student accommodation facility in Mt Pleasant, Harare.
“We also have a programme aimed at revitalising the Post Office to make it relevant in the advent of technology and changing economic dynamics. The Post Office is gearing itself to provide the platform for many services to the general public such as e-commerce, insurance and financial services among many others,” he added.
Meanwhile, since last year, over 120 Post Offices have been renovated across the country under the Communication Information Centre (CIC) programme in which Post Properties is working in collaboration with the Ministry of Information Communication Technology (ICT), Postal and Courier Services, Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) and Zimpost.
President Mugabe has so far officially launched eight provincial CICs out of the 10 that he will launch alongside the youth interface rallies.
@WilsonDakwa1
