Business Entities Deserting Harare CBD As Rentals & Parking Fees Increase
Some companies have been forced out of the Harare central business district (CBD) by high rentals, parking fees and the poor state of some buildings. Resultantly, about 70% of law firms are now operating from medium and low-density suburbs near town. Moreover, some companies have turned residential properties into offices.
The Herald conducted a survey which observed that a floor with nine offices and a common room, now costs between US$2 500 and US$3 000 per month. This translates to about RTGS$18 000 if a rate in the parallel market is to be used. City Parking is now charging $2 per hour.
Law Society of Zimbabwe (LSZ) executive secretary Mr Edward Mapara confirmed that out of 349 registered law firms that operate in the capital, 236 are now based in areas like Avondale, Belgravia, Eastlea, Hillside, Gunhill, Mt Pleasant, Bluffhill, Belvedere, Greendale, Monavale, and Waterfalls.
The development was also confirmed by the Zimbabwe National Chamber of Commerce (ZNCC) chief executive officer Mr Christopher Mugaga. He also said that some business entities were being driven out of the CBD by the sorry state of some structures.
More: The Zimbabwe Mail