The President of Zimbabwe, Emmerson Mnangagwa on Wednesday broke ground to launch the $500 million (Dh1.83 billion) Zim Cyber City, a hi-tech park near capital Harare, that is being developed by UAE-based diversified industrial conglomerate Mulk International.
Sprawled across 2.5 million square feet, Zim Cyber City is currently under construction in Mount Hampden, New Harare. The master plan includes a newly completed parliament building, ministry buildings as well as high-end residential and commercial buildings. Many compare this to the Downtown and Sheikh Zayed Road developments in Dubai.
“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,” Mnangagwa said.
The project was proposed to 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.
Mulk International has a diversified portfolio primarily spanning four sectors — building materials, plastics, health care and cricket assets — and manages a group of 18 companies.
Its parent, Mulk Holdings, owns Alubond USA, an aluminium composite panel brand with investments in Europe, Asia and Africa.