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Prince Sunduzani, Business Reporter
THE Estates Agents Council of Zimbabwe (EACZ) is pushing for urban renewal, a move that will see the redevelopment of Bulawayo should the proposal be implemented.

EACZ chairperson, Mr Oswald Nyakunika said urban renewal involves refurbishment, redevelopment and change of use of buildings to keep up with demands.

He said the objective was to inject new economic life to most Central Business District and peripheral buildings.

He said urban degradation, congestion and wastage of existing infrastructure have necessitated urban renewal.

“In Bulawayo, the congestion is less, but there is a need to target certain buildings for refurbishment or redevelopment like old town houses and old apartment blocks.

“There might be a need for change of use of some of these buildings.

“There are also old retail buildings that should be refurbished especially to the west of the CBD,” he said.

Mr Nyakunika said the Harare city centre has deteriorated and this is pushing away business from its CBD.

“Harare city centre is run-down, there is a need for renewal more than Bulawayo.

“The congestion that is in the city centre caused by informal traders is pushing businesses out of the city centre,” said Mr Nyakunika.

He said with the right proposals, urban renewal in the country will be backed by major property investors like pension funds, insurance companies and financial institutions.

Mr Nyakunika said a survey conducted on the real estate landscape in the country showed that most companies were moving away from CBDs favouring suburban areas because of congestion especially in Harare. — @PrinceNkosy102