WestProp Holdings Limited has reported a robust set of results for the third quarter ended 30 September 2025, driven by higher revenue, improved profitability, and steady progress across its flagship real estate developments, according to the company’s latest trading update.
Revenue for the quarter rose 31.7% to US$5.60 million, up from US$4.25 million in Q3 2024. The company attributed the increase largely to stronger sales at Pomona City, which generated US$3.99 million compared to US$2.85 million in the same period last year.
Seatrite contributed US$1.30 million, up from US$1.02 million, while revenue from Pokugara declined to US$0.31 million from US$1.25 million as Phase 2 nears sell-out.
Gross profit increased to US$2.85 million from US$2.17 million, maintaining a margin of 50.8%. Operating expenses remained stable at US$1.54 million, slightly down from US$1.56 million last year.
Profit before tax climbed 62.5% to US$1.63 million, and net profit rose 48.1% to US$0.87 million. The company noted that Q3 accounted for 23.8% of its year-to-date net profit.
The period was characterised by continued currency volatility and inflationary pressures following the late-2024 devaluation of the Zimbabwe Gold currency.
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WestProp said it navigated these conditions through USD-based portfolio hedging, strong cost controls, and operational efficiencies.
Pomona City: Phase 1A infrastructure — including asphalt roads, stormwater drainage and water reticulation — has been completed, with several clients now commencing vertical construction. Phases 1B and 1C are nearing full subscription. Walk-up flats launched in July made a significant revenue contribution, with Blocks A and B sold out and Blocks C and D almost fully subscribed. Block E will be released in Q4 2025.
Millennium Heights: Block 4 is fully sold and now at roofing stage, with completion expected in Q4 2025. Block 5, developed under a REIT structure, broke ground in Q2 and has attracted strong investor interest. Block 6 is open for off-plan sales, while planning for Block 7 is underway for rollout in Q4.
Pokugara Residential Estate: Phase 2 is nearing completion, with only three units remaining out of 69. Forty units have already been handed over to homeowners, and the remainder — now over 90% complete — are expected to be delivered in Q4. Work on shared amenities, including a gym, tennis court and swimming pool, has commenced.
The Hills Golf Course & Lifestyle Estate: The boundary wall is more than 30% complete, irrigation system installation is progressing, and civil works remain on schedule. Vertical construction is expected to begin in early 2026. Block 7 is planned for rollout in Q4 2025.
Mall of Zimbabwe: Investor engagements with partner Exemplar are ongoing, alongside redesign work. Groundbreaking is now expected in early 2026.
The company said its manufacturing units — TrustProp, BrickFusion and West Development — continue to enhance cost efficiency through in-house production of key materials such as aluminium, glass and bricks. This has reduced reliance on external contractors and helped maintain timely project delivery.
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