WestProp Holdings, a Victoria Falls Stock Exchange-listed real estate giant, reported a strong financial performance for the year ended 31 December 2025, with revenue rising to US$34.6 million and securing a clean audit opinion, driven by increased property sales, strategic expansion, and continued progress towards its “Bringing Dubai to Zimbabwe” vision.
The property developer received an unmodified audit opinion from Grant Thornton, confirming that its financial statements fairly present, in all material respects, the company’s financial position and performance.
A key area of focus during the audit was revenue recognition under IFRS 15, Revenue from Contracts with Customers, particularly involving complex construction contracts.
The auditors assessed the Group’s internal controls, tested revenue systems, reviewed management’s judgments on project completion stages, and conducted site visits to verify construction progress before concluding that the company’s accounting treatment was appropriate.
Financially, WestProp recorded a 19 percent increase in revenue to US$34.64 million from US$29.04 million in 2024, driven by strong demand across its flagship residential developments.
Gross profit surged 40.4 percent to US$15.65 million, while profit for the year reached US$13.43 million. Total assets expanded to US$240 million, up from US$213.51 million in the prior year, while equity attributable to shareholders rose to US$162.61 million.
The Board rewarded shareholders with a dividend of 9 US cents per share, up from 8 US cents declared in the previous year.
Major contributors to the Group’s revenue included Pomona City, which generated US$15.64 million, Pokugara Residential Estate with US$10.33 million, and Millennium Heights which contributed US$4.25 million.
Chief Executive Officer Kenneth Sharpe said the 2025 financial year marked a significant milestone in the company’s growth journey and reflected the strength of its leadership, innovation, and disciplined business model.
“The leadership team excels at building and empowering teams, creating and communicating clarity of purpose, and reinforcing alignment through structured systems. This cohesive leadership culture has been instrumental in driving performance and sustaining growth,” Sharpe said.
He noted that the company continues to pursue sustainable and technology-driven urban developments while maintaining a strategy of self-financing projects to limit dependence on bank borrowing.
In 2025, WestProp Holdings achieved significant industry recognition. The company was honored as the Super Platinum Winner for Outstanding Real Estate Developer of the Year at the Zimbabwe CEO Network Awards and was named the Top Performing Property Development Company at the Megafest Business Awards.
WestProp also received the Brand Excellence Award from the IPRCZ, was acknowledged as the Private Sector Organization of the Year by the Zimbabwe Institute of Management, and was recognised for its market strength by the Superbrand Awards.
On the international stage, the company’s commitment to innovation in urban development was celebrated at the African Achievers Awards held in the United Kingdom.
Looking ahead, WestProp said it enters 2026 with a strong pipeline of developments, substantial pre-sales, and an expanding land bank as it pursues its long-term ambition of developing more than US$5 billion worth of real estate and laying one billion bricks by 2050.
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