While there’s no rulebook to the successful launch and resilience of a real estate firm particularly in Zambia, Pam Golding Properties Zambia has been privileged to be at the hub of the country’s real estate’s transformation in the last few years. In the last few years, Zambia has recorded positive annual economic growth of around 6.2 percent – a run of growth which has impacted the real estate sector positively.
In the last few years, Zambia has witnessed some positive strides with peaceful successive elections, a positive Eurobond debut of US$750 million which became sub-Saharan Africa’s most successful bond launch and last year, the country received US$2.5 billion in foreign direct investment (FDI).
Amidst all these positives and challenges in an economy still yet to take off, you can forgive us for forgetting that Pam Golding Properties Zambia recently marked its fifth anniversary. Opening for business in Zambia is not a fleeting memory – the very first days remain a testament to optimism, excitement, nerves and everything that we have experienced in the last few years.
In truth, our growth over the last few years has been down to significant factors. Firstly, we have no doubt benefitted from the stellar and strong tradition of the Pam Golding Properties Group, drawing on its experience in the industry to confidently take on the Zambian market. Without the support of the Group, our five years would certainly not have been as remarkable as they have been.
Resilience is a word thrown around quite liberally these days – be it with the economy or approach to the work we do. However, it couldn’t be truer about our passion to deliver in what has always been a challenging property market. We’ve been honoured to be part of the transformation of the sector in recent years, fusing in professionalism and dedication to our craft from the first day. This is evidenced in our staff’s commitment who continue to surprise our clients with the good work that they do.
The last five years have seen Zambia’s year on year economic growth averaging 7 percent and this has been a key factor in our drive for growth. A steady economic environment has been the catalyst for our increased involvement in the sector with sole mandates for some of the major projects countrywide. From the redevelopment of Society House to Roma Park, Zambia’s first mixed-use development – we’ve been really privileged to be part of the many significant infrastructure developments in the country.
Looking back at the last five years, it’s easy to point at the timing of our launch in Zambia as having played a key role in our continued operations. However, it stands true that team work and determination remain the hallmark of what we do. Providing a family with a home, a business with its office space, brokerage between developers and tenants and everything in between – we’ve enjoyed it all and remain grateful for the support over the years.
Coming through mid-decade in our operations seems to have happened so fast but each passing day is a reminder of the many challenges we face in the industry where a lot still needs to be done to transform perceptions about our professionalism. I trust that the year ahead will go some way towards making significant strides that will help the real estate sector make good on the expectations of our valued clients countrywide.
Inutu Zaloumis is Managing Director of Pam Golding Properties Zambia