FOCUS 24 News

05/01/2025

Harare
World Class City Status by 2025

What are your thoughts? Is this the desired Harare

05/01/2025

Day 5
muna January # how is the disease

19/12/2024

With DJ Ollah 7 – I just made it onto their weekly engagement list by being one of their top engagers! 🎉

12/12/2024

Shout out to my newest followers! Excited to have you onboard! Thabiso Elliot Pita, Fiona Matebula, Stempe Samaikutlo

12/12/2024

His Excellency Cde E.D Mnangagwa presented the National Rugby team (Sables) with a gift of $US6 500 each yesterday after their triumph in the African Rugby Championship in Uganda.

10/12/2024

28/11/2024

The lights at the New Parliament Building went out while ZimTreasury - Ministry of Finance & Econ Dev Minister Mthuli Ncube was wrapping up his budget presentation.

Notably, the microphones and LED screens remained operational. The Speaker of Parliament of Zimbabwe subsequently attributed the power outage to a technical fault.

27/11/2024

Highglen Shopping Centre remains a ghost mall

By Brighton Mandidewa

Business has detoriarated at the Highglen Shopping Centre in Harare, shop owners citing exorbitant rentals.

In an article published by The Herald, 14 years ago, Old Mutual marketing executive Ms Lindah Mariwande said the firms property rental were in line with the prevailing open market rates used by other players.

She said Old Mutual had in fact, reviewed it's rental rates downwards after dollarisation, in recognition of the negative impact high rates have on the real estate sector.

In addition, Highglen Shopping Mall Samuel Matsekete, CEO of Old Mutual, acknowledges the low occupancy rates in some properties and attributes them to a combination of factors.

Firstly, businesses are drawn to newer developments in the northern suburbs that offer a more modern feel and improved amenities. Secondly, evolving traffic patterns can negatively impact accessibility for some properties located in the CBD.

Finally, the design of older malls might not cater to the needs of current tenants. Highglen, for instance, was designed for large anchor tenants, a model that may no longer be as attractive as smaller, more diverse retail spaces.

Matsekete outlines the company’s plan to address it. “We closely monitor occupancy rates and as you have observed, some properties currently have very low occupancy,” he admits. Citing Highglen Shopping Mall as a prime example.

Matsekete’s proposed solution involves a multi-pronged approach, including rental rate adjustments and repurposing buildings.

For some properties, adjusting rental rates can attract a new set of tenants and improved occupancy. However, significantly lowering rents could negatively impact the company’s bottom line.

In terms of repurposing buildings malls like Highglen might require modifications to accommodate smaller, more diverse businesses.

This would necessitate obtaining the necessary bylaw approvals and could be a complex and time-consuming process.

In very rare cases, a complete change of use might be necessary. Old Mutual has received inquiries about converting some properties into residential spaces, a concept not originally envisioned when the buildings were constructed.

However, as Chihota suggests, success will likely hinge on a collaborative effort between Old Mutual and the City of Harare.

“We adapt to the nuances of each property,” Matsekete said.

While the outlook for new developments remains positive, the success of Old Mutual’s strategy will be a key indicator of the overall health of the Zimbabwean property market.

26/11/2024

WOMEN Affairs minister Monica Mutsvangwa says authorities have noticed an increase in cases of gender-based violence (GBV) perpetrated by women against men. She was speaking at a media briefing in Harare yesterday to mark the beginning of the 16 Days of Activism Against GBV where the minister reaffirmed that the government would not tolerate any form of violence and perpetrators would face the law regardless of gender.>https://tinyurl.com/mr2b9jhc

19/11/2024

Former ZBC radio presenter Simon Pashoma Ncube seeks assistance.

22/10/2024

Portugal honors football legend Cristiano Ronaldo with a unique €7 coin. Given its gold content and Ronaldo's massive fan base, experts expect the coin's market value to greatly surpass its face value of €7.

19/10/2024

Senior chiefs were present at the BUSE graduation ceremony.

19/10/2024

The 2024 BUSE Graduation and Commencement

13/10/2024

Minister of Provincial Affairs for Harare, Charles Tavengwa, visited First Street in the central business district, promising to revitalize its cobblestone lanes and buildings to restore its upscale reputation.

13/10/2024

The Ministry of Health and Child Care has issued a declaration of an Mpox outbreak after confirming two cases in Harare and Mberengwa, with reports indicating that both cases are progressing favorably and receiving care through an established preparedness and response plan.

11/10/2024

Daisy's Accident: Does Karma Play a Role?

11/10/2024

Vice President Constantino Chiwenga, RTD General, is presently at Drifontein in Chirumanzu District to commemorate the Centurion Celebrations and 100 Years Thanksgiving Mass.

11/10/2024

A blaze broke out at a textile store located on Fidel Castrol Road in the city earlier today. Firefighters successfully contained the fire before it could spread to adjacent structures.