THE Lake City Development Consortium has unveiled a US$100 million sustainable community project near Lake Chivero.
The development, set on Warwick Farm in Zvimba district — a privately owned estate under Warwickshire (Pvt) Limited — aims to provide modern, eco-friendly housing while boosting economic growth.
Over the next decade, the project is expected to generate more than 10 000 jobs.
Designed to integrate green spaces and energy-efficient solutions, Lake City seeks to set a new standard for property development in Zimbabwe by harmonising infrastructure with the natural environment.
Tapiwa Nyandoro, director of the Lake City Development Consortium, said the initiative aligns with the government’s National Development Strategy 1 (NDS 1), which seeks to tackle Zimbabwe’s housing shortages.
“I think what was highlighted in that initial document was that there was a backlog of about 220 000 units that needed to be filled within this first portion of NDS 1, which is running from 2021 to 2025,” he said.
“So, the Lake City project is one of those contributors, plugging that backlog in terms of housing within Zimbabwe. The opportunity here really rests on trying to transform spaces. We have stands from 300 up to 2 000 square metres.”
Brenda Tembo, a co-director, said upon completion, the project is anticipated to feature over 7 000 buildings, including individual residential stands, cluster projects, and flats.
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“We are transforming this open land, which had an intrinsic value of about US$3 per square metre, into a property worth more than US$100 million,” Tembo said.
“That also means that we are creating jobs for the local economy. We anticipate that we will create more than 10 000 jobs over the coming years, a quarter of those we hope to be permanent jobs that we create in that area.”
Various development partners will contribute to the project.
The initial investment for basic infrastructure is estimated to be between US$40 million and US$60 million.
