7.1.2026
19:22
‘The
time
is
right’
considering
the
under-reported
level
of
economic
activity
in
Zimbabwe,
says
McCormick
Property
Development’s
Jason
McCormick.
Construction,
cranes.
Image
credit:
Pixabay
McCormick
Property
bets
$100
million
on
Zimbabwe’s
retail
market
Property
Development
(MPD)
is
expanding
its
African
reach
with
the
construction
of
a
$100
million
(around
R1.65
billion)
shopping
mall
in
Zimbabwe.
The
time
is
right
for
the
realisation
of
the
Mall
of
Zimbabwe
in
the
capital,
Harare,
together
with
its
project
partners,
says
MPD’s
Jason
McCormick,
also
CEO
of
Exemplar
REITail.
According
to
a
Business
Day
report, McCormick
will
be
handling
the
property
development and
Exemplar
will
be
assisting
with
leasing.
McCormick
believes
that
the
economic
activity
happening
in
Zimbabwe
currently
is
not
reflected
in
the
formal
GDP
figures
coming
out
of
that
country.
in
1983,
MPD
has
focused
on
developments
in
previously
under-serviced
areas
of
South
Africa.
“As
developers
of
especially
township
retail
in
South
Africa
for
the
last
45
years,
we’ve
always
kind
of
gone
where
angels
fear
to
tread”,
quips
McCormick,
“so
I’d
say
we’re
no
more
fearful
of
Zimbabwe.”
The
retail
property
developer
acquired
the
land
earmarked
for
the
project
about
12
years
ago
already,
waiting
for
the
time
to
be
right
for
the
Mall
of
Zimbabwe.
“There’s
no
doubt
in
our
minds
that
the
time
is
now
right
–
in
much
the
same
way
that
the
formal
economic
figures
coming
out
of
our
townships,
our
employment
stats
and
the
rest
of
it
have
been
a
bone
of
contention…
I
think
it’s
very
much
the
same
way
with
Zimbabwe’s
GDP.”
McCormick
also
details
the
reasons
why
building
in
Zimbabwe
is
actually
cheaper
than
in
South
Africa.
Post
published
in:
Business