Masawara owns an effective 40% interest in Joina City, the single largest commercial and retail building in Harare.
Joina City was developed with the vision of being the most prominent destination in the central business district (CBD) of Harare tenanted by leading institutions and retailers. The retail element of the building is designed to provide a “high end” city shopping mall destination in the central business district (“CBD”) of Harare. The office component has been designed and built to a very high office standard space.
The structure is approximately 64,000m2 of gross build and comprises approximately 600 parking bays, 15,415m2 of lettable retail space and 11,436m2 of lettable office space. The building occupies an entire city block, which is the only one of its kind and scale within the centre of the CBD.
Based on an independent valuation performed by CB Richard Ellis, Joina City was valued at US$ 53.8 million as at 31 December 2010.