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Tuesday, 18 March 2014

IS JOINA CITY FINDING THE GOING TOUGH ?

JOINA CITY



During times when Joina City mall was in its final construction phases reports were read that rental space was almost fully occupied.( Joina City Fully Occupied by Year-End: Masawara, newzimbabwe.com, 27/04/11) Today the economy has shrunk significantly and according to the National Social Security Authority  (NSSA) more than 300 companies have recently closed shop. Against this background therefore, it is not without reason that this mall at the very centre of Harare still has a lot of vacant rental space and the “ To Let “ sign continue to hang on its main entrance. Is Joina City finding the going tough ?



Joina City mall is a giant that incorporate a diversity of services ranging from leisure to business. It is clear that it was designed with one objective in mind that once a shopper enters its entrance he or she will find all things under one roof. There is however, a challenging consideration in the minds of its investors and managers which is that the return on investment(ROI) must be commensurate to the massive capital that was poured into Joina City over the years.

But as Zimbabwean companies stagger from one edge to the other like drunkards on a narrow footpath managers of Joina City may be facing problems in achieving their sales targets. I think many of our enterprises are unable to sustain rents that are derived from the property’s huge capital invested since in valuation terms there is a correlation between monthly rent and property value.

MASTERPIECE ! Interior shopping mall on 4 levels. For more of its features please visit the CONTACT  DETAILS  AND INFORMATION   DATABASE.

My humble advice is that their brand awareness campaigns should go into overdrive because the market must have a deeper appreciation of their building’s unique selling points ( please visit the CONTACT DETAILS AND INFORMATION DATABASE) so that prospective tenants will be willing to pay more. Further to this there should be a tenant-focused adjustment of their property management policy whereby they allow at least two companies on the same wing. This will enable tenants to share rent payment burden and curb against subletting. In light of this new reality the administrative function also will have some face powder and lipstick that is an innovative make over in order for it to perform its duties effectively. I believe measures like this will be critical for Joina City as long as the economy is struggling as it is doing now.

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