Dubai (Bureau report)
The foundation stone of Zim Cyber City was laid in Zimbabwe. The project is the first large-scale investment in the Zimbabwean economy by a UAE-based business entity that will strengthen the bilateral relationship between the UAE and Zimbabwe.
Malik International owns Malik Holdings Elobond USA, the world’s largest aluminium composite panel manufacturer, and also has investments in Africa, Asia and Europe. While thanking the President and Government of Zimbabwe, Malik International Chairman Nawab Shaji Mulk said that our group will play a key role in the construction of Zim Cyber City, which will boost economic activities in the country. All of Africa will benefit economically. Zim Cyber City is a unique, wonderful project.
Zim Cyber City is the first real estate investment in Zimbabwe through the Zimbabwe Global Investment Special Economic Zone Programme, approved by the President of Zimbabwe HE Emmerson Mnangagwa under the Ministry of Finance and Economic Development. The project’s master plan includes 250 townhouses, over 80 luxury villas, multiple apartment blocks, high-tech office facilities, a high-end retail arcade, a 15-storey commercial tower, landscaped gardens and a health club. , community centre and other facilities, as well as foolproof security, will be provided.
Zim Cyber City will facilitate blockchain and digital asset licenses and special window clearance of bank accounts, state-of-the-art office spaces and high-end residential accommodation for all individuals and institutions living and working in the community. It will include 24/7 advanced, built-in monitoring technology. Vice Chairman of Malik International, Adnan Al Malik, says, “Malik International has worked diligently, keeping in mind the market here and the culture of Zimbabwe and has started it. It will introduce all the amenities of the digital world, including blockchain and crypto-technology, as well as premium, residential plans.
He said that I am grateful to the President, HE Emmerson Mnangagwa for his support in making Zim Cyber City a project of national importance. Corporate license holders in Zim Cyber City, secure investments, easy transfer of funds in and out of the country through local or foreign bank accounts, exemption from paying all taxes for 5 years; Freehold resale of real estate and employment of foreign staff will be allowed at a flat rate of 15% tax.
Note that Mount Hampden, Mashonaland West Province, is about 11 miles northwest of Harare, the capital of Zimbabwe. Along Old Maze Road, this 11.43 square kilometre area has been earmarked for the construction of a new city that represents a new era for Zimbabwe.
