By Tinomudaishe Muzanenhamo
President Emmerson Mnangagwa has officially opened the Greenfields Retail Centre in Belvedere, a major commercial development expected to expand retail, dining and entertainment options while supporting economic growth and job creation.
The new facility, developed under a public-private partnership model aligns with the country’s Vision 2030 agenda of modernising infrastructure and improving service delivery across the country.
Speaking at the commissioning ceremony, Mnangagwa commended the partnership behind the project describing it as a model for national development.
“Well done for forging an investment partnership with far-reaching impacts on our people and the economy as a whole,” he said.
The President applauded the Zimbabwe Agricultural Society for unlocking value through its spatial land development master plan adding that such initiatives demonstrate the success of collaboration between government and the private sector under the Second Republic.
“The Greenfields Retail Centre is thus a testament to my government’s shared commitment to lift the quality of lifestyles in our country, propel overall economic growth and facilitate people-centred economic development,” he said.
Mnangagwa noted that investments in real estate and retail infrastructure are critical to Zimbabwe’s industrialisation drive revealing that the wholesale and retail sector contributed over 11 percent to the country’s GDP in 2024, with projected growth of 7.4 percent by 2026.
He urged investors to expand similar developments nationwide including in rural areas and high-density suburbs while embracing modern, climate-smart designs.
“No place in this country must be left behind,” he said.
Mnangagwa also encouraged greater use of locally sourced materials and products, stressing the importance of strengthening domestic supply chains and promoting “Made in Zimbabwe” goods within the retail sector.
Speaking at the event, Terrace Africa Managing Director Brett Abrahamse said the project reflects the company’s long-term commitment to investing in Zimbabwe and transforming urban spaces.
“This project broadly shows our commitment, not only to invest in Matabeleland, but also other provinces outside of Harare. We have traditionally focused on retail projects, but our flagship development is the new Highlands Precinct in Harare, a multi-year, multi-million-dollar vision,” said Abrahamse.
He added that the Greenfields Retail Centre, which features nearly 50 retail outlets, is part of a broader pipeline of developments aimed at redefining urban infrastructure.
“What we have created at Greenfields is just the start of our journey to create something modern,” he said.
Abrahamse also highlighted the role of Real Estate Investment Trusts (REITs) in widening investment participation, noting that Terrace Africa manages the Tigere REIT, listed on the Zimbabwe Stock Exchange.
“Through the REIT, any Zimbabwean can take a stake in premium assets like the Greenfields Centre… whether it’s the farmer in Mutoko, the teacher in Gweru, or the entrepreneur in Masvingo,” he said, adding that over US$7 million has already been paid out in dividends to investors.
He reaffirmed the company’s long-term presence in the country, declaring: “Terrace Africa and Tigere Property are completely entrenched and permanently invested in Zimbabwe. We are here to stay and we are here to invest.”
The Greenfields Retail Centre is expected to stimulate local economic activity, create employment opportunities and enhance consumer experiences, further signaling growing investor confidence in Zimbabwe’s property and retail sectors.
