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16 February 2009
The Heart of Africa will be Zambia’s largest residential project attracting savvy investors – estate agent.
Construction of Zambia’s first ever lifestyle estate is due to begin in Lusaka this year, signaling a coming of age for the country’s property market.
Janet Irwin, principal of marketing agency Homenet Zambia, says the project has already generated considerable interest from buyers with 60 units already reserved.
Named “The Heart of Africa”, the development will be Zambia’s largest residential project to date, with an eventual total of 850 homes, and will also incorporate offices, a variety of luxury retail stores, a five-star hotel, restaurants, an 18-hole PGA standard Matkovich golf course, a country club, dams and communal parks covering 70ha. Security protocols will be of the highest standard.
“We are very excited about the project,” “The time is ripe for a development of this caliber and savvy investors are already buying,” says Irwin.
Situated on the periphery of Lusaka, the development is being built by the South African-based Legacy Holdings, the founders of which were responsible for a number of prominent projects including The Lost City, the Michelangelo Hotel and Michelangelo Towers in Sandton.
Fully serviced stands now on sale measure between 300m2 and 675m2 and are priced at between US$70 000 and US$260 000. What is more, buyers have a variety of Legacy Holdings architectural designs from which to develop their dream homes.
The architectural style of the development is “African contemporary” or what Legacy has called “Afropean”. A private pool can also be included upon request.
The development is aimed at buyers from all backgrounds, but foreign buyers, says Irwin, would do well to familiarize themselves with Zambian property laws.
These provide that in order to be able to purchase property in Zambia, foreigners need to be a permanent resident of the country or to own a company there.
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