Dubai comes to Zim | The Sunday Mail

The Sunday Mail

“In its immediate neighbourhood, Government plans to develop a Presidential Palace, Supreme and High Court buildings, a new Reserve Bank of Zimbabwe headquarters, mineral auction centres, a national stock exchange and headquarters for several Government ministries.”

Richard Muponde

It is being touted as Africa’s most exciting real estate project.

The designs illustrate what is certain to develop into a centre where upmarket convenience, grandeur and opulence intersect.

Modelled around Dubai, the ultra-modern city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai, the Zim Cyber City currently under development in Mount Hampden is poised to become a landmark development, offering world-class high-end lifestyle to its residents.

The US$500 million two-year project is being developed by UAE-based diversified industrial conglomerate Mulk International on a 2,5-million square foot space in the Mashonaland West farming district.

The new city will replicate real estate development along Sheikh Zayed Road, the longest road in the UAE and home to many high-rise buildings that house residential apartments and serviced hotel apartments.

Last week, President Mnangagwa officiated at the ground-breaking ceremony of the multi-million-dollar project being financed by Dubai-based billionaire Mr Shaji Ul Mulk.

Government is facilitating the development of new administrative capital city in Mt Hampden, with the recently completed Parliament building set to be the nucleus around which a new metropolis will rise.

President Mnangagwa said the project was a culmination of the charm offensive made at the recent  Dubai Expo 2020 last year when he pitched the country’s investment offerings to the Dubai Billionaires Club.

“After that, I approached Mr Mulk, who is chairperson of the Dubai Billionaires Club, and told him that I want him to replicate Dubai in Zimbabwe.”

Following the discussion, Mr Mulk visited Zimbabwe to scout for investment opportunities before electing to develop a cyber city as one of the many investments he is set to make in the country. Zim Cyber City, President Mnangagwa added, is likely to engender a tourism boom. Locals will also have a feel of Dubai at home. Zim Cyber City is a state-of-the-art mixed-use real estate development that will facilitate “special clearance of blockchain and digital assets licences and bank accounts, cutting-edge office spaces and high-end residential living for all individuals and entities operating and living in the community,” according to Mulk International.

In its immediate neighbourhood, Government plans to develop a Presidential Palace, Supreme and High Court buildings, a new Reserve Bank of Zimbabwe headquarters, mineral auction centres, a national stock exchange and headquarters for several Government ministries.

According to the developers, the envisaged city will include 24-hour advanced built-in surveillance technology directly connected to law enforcement for maximum security of the residents.

More importantly, it will host the signature Mulk Tower, a five-star hotel, duty-free mall, office buildings, luxury villas and recreational facilities, among other features.

The residential side will house 250 units of three-bedroomed townhouses, 80 units of three- to five-bedroomed villas.

The plans provide for the development of several high-end dining lounges, night clubs, sheesha bars, nurseries and schools, medical facilities and a modern transport network.

Close to the villas and townhouses will be a community centre, private swimming pools, a health club, a gym and sports centre, a kids play area and a pet zone.

According to Mulk International, the villas “offer elegance and comfort, with opulent interiors and all the modern amenities you need at your doorstep.”

The company describes Zim Cyber City as an “ideal sanctuary …with compound villas dotted around a stunning water body.”

The plans also include a diplomats’ block, “with high-end finishes and 27/7 advanced security systems will be one of the highlights.”

Mr Mulk said Zim Cyber City is the first of many investments that his group has committed to delivering through the dedicated special economic zone status in the country.

“Zim Cyber City will be a unique, iconic development, offering multi-fold economic benefits to commercial enterprises combined with lavish uptown living,” he said.

He said his company, which also plans to develop a state-of-the-art diagnosis centres at every Government hospital in the country, has other interests in Zimbabwe, which include mining. His son, Mr Adnan Mulk, who is vice chairperson of Mulk International, said: “Mulk International has worked diligently to understand the market and gain greater insight into Zimbabwe’s culture and its bountiful opportunities.

“The depth of resources and advanced digital capabilities across industries gives Zim Cyber City concrete, long-term growth prospects.

“We are keen to witness Zim Cyber City’s role in the successful integration of block chain and crypto technology and premium, residential living.”

Mr Mulk has a personal net worth of US$2,7 billion and his company, Mulk Holdings, enjoys a global annual turnover of US$1,8 billion. His business interests span construction, renewable energy, plastics and healthcare sectors.

Presidential Economic and Investment Advisor in the UAE Mr Paul Tungwarara said: “I want to thank His Excellency, our President, for opening up the opportunity and the support he gave for our investor, Mr Mulk, to come and start the cyber-city project in Zimbabwe.

“I want to also that thank all the ministers who supported us to make sure that this project takes off.

“More importantly, I want to thank Mr Mulk for choosing Zimbabwe to be the African hub for Mulk Holdings.

“We are pushing to fulfil the President’s vision of transforming the country into an upper middle-income society by 2030.”

He said the project was set transform Zimbabwe through rapid development of world-class real estate.

Mr Mulk’s investment, he added, was testament to the conducive business environment brought about by the Second Republic.

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