LEADING Dubai property firm, Psi Real Estate, a partner of global luxury real estate developer DAMAC, is among major foreign companies participating at the 64th edition of the Zimbabwe International Trade Fair (ZITF).
This comes as Zimbabwe and the United Arab Emirates (UAE) already enjoy solid economic and political relations, with the Gulf nation rising to become the country’s second-largest trading partner after South Africa.
Bilateral trade between Zimbabwe and the UAE amounted to US$3 billion in 2023 from US$2 billion in 2022, with Zimbabwe enjoying a lion’s share of the balance of trade at US$2,7 billion.
The historic participation of Psi Real Estate at ZITF is courtesy of Interval Group Inc, a Dubai-based firm founded by Zimbabwean entrepreneur Tatenda Gate and his partners Ronald Mhike and Chiratidzo Matongo.
Scheduled to take place from 23 April 2024 to 27 April 2024, ZITF serves as an esteemed platform for showcasing business opportunities and fostering international collaborations within Zimbabwe’s thriving economy.
Kenyan President William Ruto will officially open the event tomorrow. A total of 624 exhibitors have confirmed their participation at this year’s event from 565 who attended last year. The number of participating countries increased from 21 to 26.
This year’s event runs under the theme “Entrepreneur: The Catalyst to Industrialisation and Trade”, with expectations high that the platform will create opportunities for lucrative deals and market expansion.
Mr Gate and his team members Messrs Mhike and Matongo, spearheaded the initiative to bring DAMAC partner, Psi Real Estate, underscoring their commitment to promoting foreign investment and stimulating economic growth in Zimbabwe. PSI, established in 2007, is the number one and the largest private effective real estate company in Abu Dhabi and Dubai, UAE.
The company says its dedication to a sustainable and dynamic performance led to the creation of prominent brand recognition in the UAE real estate market through the past decade of its outstanding performance.
The real estate market in Dubai saw 176 high-end property sales that exceeded US$10 million, as it outpaced London, Paris and New York in the first quarter of 2023, according to British real estate consultancy Knight Frank.
Intervel Group Inc team will present an impressive portfolio of luxury properties developed by DAMAC in collaboration with Psi Real Estate, highlighting the unparalleled quality and sophistication synonymous with the brands.
DAMAC Group has been shaping the Middle East’s luxury real estate market since 1982, delivering iconic residential, commercial and leisure properties for sale across the region and beyond.
Moreover, the delegation is keen to explore potential opportunities for land investments in Zimbabwe, recognising the country’s untapped potential in real estate and conducive business environment.
In addition to showcasing their offerings at ZITF 2024, Mr Gate and his team have scheduled meetings with other prominent business people and stakeholders in Zimbabwe.
These meetings aim to foster meaningful partnerships and explore avenues for collaboration across various sectors, further reinforcing the commitment of Intervel Group Inc to contribute to Zimbabwe’s economic development.
Mr Gate expresses his enthusiasm about the partnership, saying “We are honoured to be representing Zimbabwe at ZITF for the first time and supporting the President’s vision for economic prosperity.
“Bringing Psi Real Estate to ZITF represents a significant milestone in our efforts to facilitate cross-border investments and contribute to Zimbabwe’s economic development.
“With the support of Ronald Mhike, Chiratidzo Matongo, and the entire Intervel Group Inc team, we are confident that this collaboration will not only showcase world-class real estate offerings but also pave the way for fruitful discussions on investment opportunities in Zimbabwe.”
With their dedication and expertise, Mr Gate said together with his partners and the Intervel Group Inc team, the participation of Psi Real Estate at ZITF promises to be a catalyst for fostering strategic partnerships and driving sustainable growth in Zimbabwe’s real estate sector.
Herald
