WestProp Holdings Biography
WestProp Holdings is a Zimbabwe-based real estate developer established in 2007. It develops residential and commercial properties and is listed on the VFEX.
| Legal Name | WestProp Holdings Limited |
|---|---|
| Year Founded | 2007 (19 Years Ago) |
| Formerly | West Property Company Pvt Ltd |
| Key People | Kenneth Sharpe (Founder & CEO) |
| Headquarters | Harare, Zimbabwe |
| Industry | Real Estate |
| Traded As | WESTP.vx |
| Phone | +263242794841/2 |
| Website |
Background
WestProp Holdings Limited, formerly known as West Property Company Pvt Ltd, is a real estate development company based in Zimbabwe. The company was founded in 2007 by Kenneth Sharpe. Headquartered in Harare, WestProp established itself by focusing on the property development industry within the capital and surrounding areas.
On April 29, 2023, WestProp Holdings became the first real estate company to be listed on the Victoria Falls Stock Exchange (VFEX), where it trades under the ticker symbol WESTP.vx. This listing was notable for being the first equity capital raise by way of preference shares in an Initial Public Offering (IPO) on the VFEX stock market.
Operations and Business Model
WestProp functions primarily as a master planner, financier, and developer. The company provides a range of real estate services, including property development, sales, leasing, project management, and property management.
The firm's business model centers on developing sustainably built commercial, residential, and industrial properties. While the majority of its operations and developments are concentrated within the Greater Harare Area, WestProp's portfolio also includes land and properties in Bulawayo and Victoria Falls. The company maintains a corporate size of 11 to 50 employees.
Development Portfolio
The company manages a diverse portfolio of completed and under-construction projects. WestProp is currently executing a strategic plan to develop real estate valued at over US$5 billion. This includes the construction of more than 1,000 residential units across several flagship developments, such as the Pokugara residential estate, Millennium Heights, Gunhill Rise, Homeland 263, and the mixed-use smart city project at Pomona City.
In the commercial sector, WestProp completed the Mbudzi Market retail development in 2015, which remains fully operational and fully let.
Future Projects and Strategic Vision
WestProp Holdings has outlined several large-scale future developments aimed at expanding its footprint in the commercial, tourism, and hospitality sectors. Future plans include the construction of the Mall of Zimbabwe, a joint venture with Exemplar designed to be a major regional shopping and commercial hub.
Additionally, the company is planning the development of the Warren Hills Golf Estate. This US$280 million project is slated to include a PGA Championship standard golf course, luxury residential units, and hotel properties. Operationally, the company operates under a long-term development target articulated by its vision of laying “one billion bricks by 2050”.