Chegutu – The Urban Development Corporation (UDCORP) has successfully restarted its flagship Knockmalloch Mixed Density Housing Project after a prolonged stall, marking a cornerstone of a corporate turnaround that has seen the state-owned entity move from years of losses to consistent profitability.

UDCORP Chief Executive Officer Joey Shumbamhini, detailing the corporation’s achievements under its Transformation Strategy, stated that the first key task was to “Put our house in order.” He acknowledged that things were not in order at UDCORP, necessitating the creation of effective internal governance systems.

“We are ready to build and deliver. We pledge to be a good corporate citizen. We pledge to deliver. We managed to clear the backlog in Audited Financial Statements dating as far back as 2020 and the Corporation is now up to date,” Shumbamhini said. “Our corporate governance compliance has soared to 96%.”

This foundation, he explained, has poised the corporation to deliver housing.and deliver on its mandate. “Financially, we have moved from years of loss-making to a consistent profit-making position. Our audit opinion is improving, and we are confidently targeting an unqualified opinion for 2025.”

A major part of this turnaround was to “Unlock the UDCORP land bank and resuscitate project works.” The Knockmalloch project, a US$40 million investment, and the Manresa High Rise Flats had stalled after UDCORP’s capital was “wiped out as a result of currency changes and inflation.”

After what he described as a task requiring “strategic focus and diligence,” Shumbamhini announced, “Today, we celebrate the successful resuscitation of our flagship project – the Knockmalloch Housing Project.”

The project, located under the Chegutu Rural District Council, is being hailed as “clear testimony that Rural District Councils can also embrace rapid modernisation.” Shumbamhini called upon other councils to engage UDCORP for similar partnerships.

Resuscitating the dormant project required key milestones, including securing a new Environmental Impact Assessment Certificate from the Environmental Management Agency (EMA) and mobilising resources entirely from the private sector.

“The resources that we are using to implement the project are being generated from Individuals, Corporates and Institutional Investors such as Pension Funds,” Shumbamhini said. He extended appreciation to stakeholders including the Zimbabwe Association of Pension Funds for the crucial link.

A significant achievement was in cost containment. A Value for Money Audit initiated by management “yielded a reduction in total Projected Project Costs from US$40 Million to US$22 Million.”

The project has also been placed under a special Early Title Deeds Programme, allowing stand-holders to apply for individual title deeds as soon as they make full payment.

On the ground, Phase 1 works are progressing, with sewer, water, and stormwater reticulation already done. The corporation is targeting completion of Phase 1 by December 31, 2025, and has adopted an environmentally friendly bio-digester system for sewer treatment.

The event was also attended by government ministers who endorsed UDCORP’s new direction.

Local Government and Housing Development Minister, Daniel Garwe, in a speech read on his behalf by Shingirayi Mushamba, who is the Chief Director of Spartial Planning and Development in the same ministry stated that UDCORP is “strategically positioned to play a leading role” in the government’s “Call to Action – No Compromise to Service Delivery.” He confirmed that the ministry would “allocate more land to UDCORP” to empower its role in national development.

Echoing this sentiment, National Housing and Social Amenities Minister Soda Zhemu in a speech read on his behalf said, “The Ministry is desirous to look at recapitalizing UDCORP to play a pivotal role.”

He expressed confidence that UDCORP is “fulfilling its mandate and being more impactful in shaping the future of Zimbabwe’s urban landscape as we march towards VISION 2030.”

Chegutu Rural District Council Chief Executive Officer, Admire Machingura called on stakeholders to construct standard housing units and ensure that rural development are at par with latest trends.

“Construction should be standard and I am urging stakeholders to prioritise standard buildings. People should not just construct just for the sake of it.”

With its house now in order, UDCORP is now focusing on its new strategic theme for 2026: “Building the UDCORP We Want.”

Founded in 1986, the Urban Development Corporation (UDCORP) is a state-owned entity mandated by law to spearhead urban development in Zimbabwe. Its core objectives include planning and coordinating urban growth, generating employment, and providing housing and social facilities.

The corporation’s mission is to develop an inclusive, safe, and sustainable built environment, aligning with its vision of well-developed urban settlements with modern infrastructure by 2030.