LISTED property concern, Mashonaland Holdings Limited (Masholds) says its diversification thrust has started to pay off, with the firm focusing on increasing market share, riding on its growth drive, NewsDay Business reports.<\/p>\n
Masholds has a long-term strategy hinged on diversifying its portfolio.<\/p>\n
In an interview with NewsDay Business, Masholds managing director Gibson Mapfidza said the company\u2019s thrust was to increase market share through new products and market penetration as it head hunts new tenants to fill current voids at Chiyedza House and ZB Life Towers.<\/p>\n
\u201cWe closed the year in good financial standing. I won\u2019t say much as we are in our closed period,\u201d he said.<\/p>\n
\u201cBut I must say the property sector at large continues to show resilience in the face of a harsh economic environment. Our diversification thrust has started contributing to our topline as we complete some of our key projects.<\/p>\n
\u201cOur thrust is to increase our market share through new products and market penetration as we head hunt new tenants to fill our current voids at Chiyedza House and ZB Life Towers. In that thrust, we remain alive to the need for a robust on-boarding process to ensure we protect the quality of our earnings going forward.\u201d<\/p>\n
Customer servicing remained a key imperative, both at group and at company levels, to support the company\u2019s growth thrust. The real estate firm recorded a net promoter score of 75% as at December 31, 2023 and current efforts are on ensuring that the company responds to tenants\u2019 needs.<\/p>\n
While the outlook for the year ahead is complex, nuanced and suggests uneven performance, Mapfidza said the overriding theme in real estate markets would be one of opportunity amid challenges.<\/p>\n
\u201cAs such, we will stay the course on our growth ambition. Given the high inflation and interest rates, our ability to execute offensive and defensive strategies is going to be very key,\u201d the managing director said.<\/p>\n
\u201cDiversified growth in logistics, retail, health and tourism sectors in our five-year plan will transform the business to a fully resilient investment offering which delivers stakeholder returns.<\/p>\n
\u201cWe are very excited with the current progress on our signature Pomona Commercial Centre project and doing everything possible to keep the momentum, the earlier you complete a project the more risks you dodge in this market.\u201d<\/p>\n
He said Masholds would focus on upgrading existing facilities, refining space requirements and aligning location, quality, design and amenities of all their buildings.<\/p>\n
\u201cAnother one particular area we need to ramp up in 2024 is on sustainability. We need to stack up to the countries carbon commitments through retrofitting of existing assets and building going forward,\u201d he said.<\/p>\n
\u201cTo this end, we have commenced engagements with IFC (International Finance Corporation), which has presented its edge tool to our teams. Current efforts is to bring on board a local implementation partner and pursue first the low hanging fruits we need to start recording and reporting on.<\/p>\n
\u201cWe also hope in that thrust the Green Building Council will sooner than later put in place a regulatory framework so as to help compel sustainability practices in the built environment industry.\u201d<\/p>\n
Going forward, Mapfidza indicated that the company will increase its responsible citizenry credentials by partnering both local and national governments in providing requisite infrastructure with on-going engagements with Harare City Council and Bulawayo City Council for partnerships that will pave way for affordable social housing.<\/p>\n
\u201cWe are also engaging with leading universities with the intention to partner them in providing student accommodation,\u201d he added.
\nhttps:\/\/www.newsday.co.zw\/business\/article\/200023421\/diversification-drive-pays-off-for-masholds<\/p>\n","protected":false},"excerpt":{"rendered":"
LISTED property concern, Mashonaland Holdings Limited (Masholds) says its diversification thrust has started to pay off, with the firm focusing on increasing market share, riding on its growth drive, NewsDay Business reports. Masholds has a long-term strategy hinged on diversifying its portfolio. In an interview with NewsDay Business, Masholds managing director Gibson Mapfidza said the […]<\/p>\n","protected":false},"author":1,"featured_media":2777,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"footnotes":""},"categories":[15],"tags":[],"class_list":["post-2771","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-updates"],"_links":{"self":[{"href":"https:\/\/ctrade.co.zw\/index.php?rest_route=\/wp\/v2\/posts\/2771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ctrade.co.zw\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ctrade.co.zw\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ctrade.co.zw\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ctrade.co.zw\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2771"}],"version-history":[{"count":1,"href":"https:\/\/ctrade.co.zw\/index.php?rest_route=\/wp\/v2\/posts\/2771\/revisions"}],"predecessor-version":[{"id":2778,"href":"https:\/\/ctrade.co.zw\/index.php?rest_route=\/wp\/v2\/posts\/2771\/revisions\/2778"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ctrade.co.zw\/index.php?rest_route=\/wp\/v2\/media\/2777"}],"wp:attachment":[{"href":"https:\/\/ctrade.co.zw\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ctrade.co.zw\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ctrade.co.zw\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}