West Properties Holdings Limited

The company was established on 27 September 2007 in Harare by Kenneth Sharpe, originally trading as West Property Company (Pvt) Limited before rebranding as WestProp Holdings Limited. It appears on the Victoria Falls Stock Exchange register as West Properties Holdings Limited and trades under the code WPHL.VX.

On 29 April 2023 the company became the first property development business to list on the Victoria Falls Stock Exchange, and conducted the first equity capital raise by way of preference shares in an initial public offering on that market. The raise brought in US$3.3 million of a US$30 million target, with the company valued at about US$300 million on listing.

Completed and in-progress developments include Mbudzi Market, completed in 2015 and fully let, Homeland 263, Pokugara clusters and residential stands, Gunhill Rise, Pomona City and the Millennium Heights apartment blocks. Planned projects include the Mall of Zimbabwe, a joint venture with Exemplar, and the Warren Hills Golf Estate incorporating a PGA championship-standard golf course alongside residential and hotel property.

Corporate structure

WestProp acts as master planner, financier and developer of residential and commercial property in the Greater Harare Area, working to a stated strategy of developing real estate worth more than US$5 billion under the vision of laying "one billion bricks by 2050" and the mantra "Bringing Dubai to Zimbabwe".

The board of directors comprises seven members — three executive and four non-executive directors — chaired by an independent non-executive chairman. The company has also moved into vertical integration, commissioning its own brick manufacturing plant and installing a 1MW solar plant at Millennium Heights.