JR Goddard plans commercial hub near Victoria Falls tourism hotspot

Zimbabwe is stepping up efforts to position Victoria Falls as a higher-value tourism and investment destination, as authorities seek to attract private capital into infrastructure and real estate projects linked to one of Southern Africa’s most visited landmarks.

The plan reflects a broader push to connect tourism growth with commercial development in designated economic zones. 

The government has approved a major land development agreement involving a consortium led by JR Goddard.

The project will open up 271 hectares of commercial land near Victoria Falls, marking one of the larger private-sector-backed developments in the area in recent years. 

The site is located on Lot 1 of Jafuta Estate within the Masuwe Special Economic Zone, part of the Kavango-Zambezi Transfrontier Conservation Area.

The cross-border conservation and tourism corridor spans five countries and has become a focus for long-term infrastructure and hospitality investment across Southern Africa.

Public-private deal structure approved 

Under the agreement, the state-owned Mosi Oa Tunya Development Company will contribute 271.5 hectares of land valued at $25.6 million in exchange for a 39% equity stake.

The JR Goddard-led consortium will hold the remaining 61% and invest $66.9 million in infrastructure. 

The deal follows a tender process overseen by the Zimbabwe Investment and Development Agency and sets a 25-year recovery period for both parties.

The consortium also includes Sesani, Stewart Scott Zimbabwe and Genesis Global Finance.

Infrastructure plan tied to tourism growth 

The project will focus first on core infrastructure needed to support future commercial activity around Victoria Falls.

Planned works include road construction, a 13-kilometre water pipeline, a treatment plant, sewer systems and a power substation. 

Officials say the upgrades are intended to support future hotels, retail space and mixed-use developments tied to growing visitor demand in the Victoria Falls area, a key driver of Zimbabwe’s tourism economy. 

Beyond this project, JR Goddard is also involved in fundraising efforts for the Glass Block Dam in Bulawayo, extending its role in Zimbabwe’s infrastructure development and public-private investment projects.