Mount Hampden, New Harare, has broken ground on a new $500m (Dh1.83bn) hi-tech park near the Zimbabwean capital Harare.
Zim Cyber City, being developed by UAE-based diversified industrial conglomerate Mulk International is currently under construction.
The master plan for the 2.5 million square feet mixed-use development includes a newly completed parliament building, ministry buildings as well as high-end residential and commercial buildings.
Zim Cyber City will facilitate the use of blockchain and digital assets licences, bank accounts, office space and high-end residential living for all entities and individuals operating and living in the community, according to Mulk International.
Mulk International reports that many compare this to the Downtown and Sheikh Zayed Road developments in Dubai.
The project was proposed to the President of Zimbabwe, Emmerson Mnangagwa by Mulk International during his visit to Dubai World Expo 2020. Mulk International was granted an exclusive licence to establish a blockchain and digital assets special economic zone. This is the first such large-scale investment by a UAE-based business house in Zimbabwe, which is set to strengthen bilateral relationship between the countries.
“Zim Cyber City stands to become Zimbabwe’s landmark project, offering a world-class high-end lifestyle to all the residents. Our government fully supports this exciting development, and I congratulate chairman, Shaji Ul Mulk, and his company Mulk International, for bringing Zim Cyber City to Zimbabwe,” said Mnangagwa.
“Zim Cyber City is the first of many investments that our group, Mulk International, has committed to delivering through the special economic status channel of Zimbabwe Global Investments,” added Nawab Shaji Ul Mulk, chairman of Mulk International.
The smart city project is the first real estate investment in Zimbabwe channelled through the Zimbabwe Global Investments (ZGI) special economic zone (SEZ) programme, approved by President Emmerson Mnangagwa.