Homelink Heights has brought a US$5.4 million investment into Zimbabwe’s residential property sector, delivering 78 two-bedroom apartments across six blocks as the country seeks to expand access to decent accommodation.
Officially opened in Harare on Friday, the development occupies approximately 9,457 square metres and provides a combination of residential facilities and supporting infrastructure, including parking, a children’s play area, borehole water and renewable energy systems.
Speaking at the ceremony, Homelink Managing Director Dr T. Matembo says the project demonstrates the company’s commitment to completing substantial property developments while providing homeowners with secure and modern living environments.
Construction and servicing works began in 2024 and reached completion on September 30, 2026, with water, sewer and electricity connections in place. The development also received its Certificate of Occupation from the City of Harare, allowing purchasers to take possession of their apartments.
Matembo says 57 of the 78 apartments, representing 72 percent of the development, are already sold, leaving 21 units available to prospective homeowners and investors.
The remaining apartments attract a discounted cash price of US$59,800 each, while the mortgage option costs US$68,200. Under the mortgage arrangement, buyers pay a 20 percent deposit over three months, with flexibility for extended payment periods where necessary, while the outstanding balance is financed over 10 years at an annual interest rate of 15 percent.
Harare Deputy Mayor Cllr Rosemary Muronda, representing Mayor Cllr Jacob Mafume, described the development as an example of how institutional investment and private-sector partnerships contribute to housing delivery, economic growth and improved living standards.
She highlighted the importance of innovative financing mechanisms, private-sector participation and diaspora investment in responding to the city’s growing accommodation requirements.
Clr Muronda also linked the development to Sustainable Development Goal 11, which promotes inclusive, safe, resilient and sustainable cities, emphasising the need for reliable infrastructure, essential services and compliance with municipal planning requirements.
Homelink Board Chairperson Mr W. Manhimanzi says the project reflects the institution’s commitment to supporting the national ambition of delivering one million houses by 2030.
He called for stronger collaboration between Government, developers, financial institutions and local authorities, noting that addressing the country’s housing deficit requires coordinated investment and sustainable development models.
Guest of Honour and Mutapa Investment Fund Chief Executive Officer Dr John P. Mangudya commended the project’s land-use planning, modern construction standards and infrastructure, noting that well-designed vertical developments help optimise available urban land while accommodating growing populations.
He identified real estate as an important component of Mutapa investment’s strategy, revealing that the Fund is establishing a dedicated real estate cluster to unlock value from land held by its portfolio companies.
The Fund’s portfolio includes entities with substantial land holdings that can support future housing and infrastructure developments.
Dr Mangudya said that the institution’s investment philosophy centres on patient and responsible capital deployment, with performance measured through assets created, employment generated and tangible benefits delivered to communities.
He revealed that companies under Mutapa Investment Fund collectively employ more than 25,000 people, stressing the importance of protecting existing jobs while creating additional opportunities through productive investment.
“The US$2.5 billion asset portfolio,” he explained, “requires strategic management, sound corporate governance and effective capital allocation to reduce dependence on Government budgetary support.”
Homelink Heights forms part of the company’s wider property development portfolio, which includes projects in Harare, Bulawayo, Norton, Bindura and other locations.
The company is also advancing Homelink Estates, a 243-hectare development located approximately 12 kilometres from Harare’s central business district, between Rider Ridge and Lake Chivero. The project comprises 972 residential stands, with the first phase fully serviced and holding its certificate of compliance, while infrastructure works for the second phase are underway.
The opening of Homelink Heights adds to ongoing efforts to expand residential property ownership and strengthen investment in Zimbabwe’s built environment
