THE Supreme Court has ruled that Victoria Falls Stock Exchange (VFEX)-listed property firm WestProp Holdings is the rightful owner of Pomona City land.
WestProp and another company called Fairclot Investments have been at loggerheads over the land.
And the ruling ended the long-running legal battle.
The dispute involved a piece of land measuring about 273 hectares, which is in Borrowdale, one of Harare’s most expensive suburbs.
In the latest case, Fairclot Investments, trading as Trucking and Construction (T&C), was seeking an order to “set aside the transfer of the property covered in the deed of settlement to Doorex Properties being a certain 273,2 hectares of land called Stand 654 Pomona Township”.
Doorex is a subsidiary of Augur Investments, a company that is owned by businessman Ken Sharpe.
T&C, which was subcontracted by Augur Investments for the Airport Road project, was demanding the nullification of the deed of settlement between Harare City Council, the Local Government ministry and Augur Investments that saw the transfer of the contested piece of land to Sharpe’s business entity.
The applicants also wanted the original agreement between the City of Harare and Augur for the development of the Harare Airport Road declared null and void on the basis that the deal did not go through tender and did not comply with Zimbabwe's investment laws.
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The title deeds of the land were being held in escrow by a local law firm, Coughlan, Welsh & Guest pending finalisation of the court case.
In a statement, WestProp said: “The ruling which was delivered today (last week) cements and confirms that indeed Stand 654, Pomona Township belongs to WestProp Holdings Ltd. We want to reassure our esteemed stakeholders and clients that the Pomona Dream will certainly be delivered.
“With all the legal battles now behind us, our focus is now on delivering the Pomona Dream and satisfying the imagination of our stakeholders and clients.”
