BCC opens bidding for 59.8-hectare Ascot Race Course Development
By Staff writer – Council Watch
The City of Bulawayo is set to open competitive bidding for the development of the former Ascot Race Course site, rescinding previous exclusive negotiations with CBZ Bank Limited in favor of a transparent Expression of Interest process.
The 59.8-hectare site, strategically located in an upmarket area surrounded by Kumalo, Woodlands and Suburbs, represents one of the city’s most valuable land assets. Council resolved to invite expressions of interest from all qualified investors and developers following the completion of a Local Subject Plan that provides a comprehensive framework for future development.
“This is prime land and one of the city’s most strategic development assets,” stated the Town Clerk’s report to Council.
“An open and competitive process promotes transparency, accountability and fairness in the management of public assets.”
The decision to rescind the CBZ Bank negotiation was based on the completion of the Local Subject Plan, which constitutes a material change in circumstances. The competitive process is expected to attract a wider pool of investors with varying expertise, financial capacity and innovative development concepts, ultimately maximizing potential revenue and economic returns for the city.
The Expression of Interest process will be largely self-financing, with prospective investors required to pay non-refundable application fees. The development is expected to contribute significantly to the city’s growth and Smart City aspirations while stimulating economic growth, employment creation and infrastructure development.
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