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Dubai-based billionaire expected in Zimbabwe tomorrow

by Staff reporter
11 Apr 2022 at 16:21hrs | Views
BILLIONAIRE Mr Shaji Ul Mulk, who is the chairman of Mulk Holdings and Abu Dhabbi T10, is set to arrive in Zimbabwe tomorrow to explore possible sites in Harare and Victoria Falls to invest in real estate, hotels and sporting facilities.

The visit follows a meeting Mr Mulk had with President Emmerson Mnangagwa, government officials and other investors in Dubai, the United Arab Emirates (UAE) last month.

The meeting was organised by Dubai-based Zimbabwean businessman Tempter Paul Tungwarara, who said the billionaire had expressed willingness to invest in the construction and hospitality sector and sports facilities – especially cricket.

This development dovetails with Zimbabwe's vision of becoming an upper middle-income economy by 2030 in which such infrastructure development is a critical pillar.

Also present during President Mnangagwa's meeting with Mr Mulk was Finance Minister Mthuli Ncube and Youth, Sport, Arts and Recreation Minister Kirsty Coventry, both of whom underlined the potential in Zimbabwe's most promising markets and leading industries.

Mr Mulk was last week appointed chairman of business affairs for Zimbabwe in the UAE, coordinating with Mr Tungwarara.

"I am happy to say the meetings we had with His Excellency and a group of billionaires in Dubai are bearing fruits," said Mr Tungwarara. "I would like to thank President Mnangagwa for opening Zimbabwe for business and for ensuring the provision of all facilities required by businesses to carry out their investment activities."

Mr Tungwarara said Zimbabwe was rich in resources and was awaiting lucrative and promising investors to partake in the country's advancement, adding that other billionaire investors from Dubai were expected in the country between May 5 and 8.

"We are expecting more big investors to invest in the country," he said. "Zimbabwe is also home to major tourism assets, a safe investment destination and homes to many untapped opportunities."

Mr Mulk owns the largest cladding company in the world.

He committed to building a state-of-the-art cricket stadium and hotels around this cricket stadium and real estate in Zimbabwe.

Best known for its flagship brand, Alubond USA – the world's largest metal composite brand and first aluminum composite panel in the UAE market – Mulk Holdings is continuing to expand.

Mr Mulk is not just known as a consummate businessman, he is also championing the transformation of cricket into a 90-minute sport.

Zimbabwe Cricket (ZC) is in line to host the T-10 Cricket tournament this year, with negotiations with Mulk Holdings at an advanced stage.

The planned tournament came after Mulk Holdings' subsidiary T-TEN Global Sports FZE approached the Government with the idea to bring the shortest format of the game to the country.

Source - The Herald