Contrary to our recent article and social media reports, the upmarket Sam Levy's Village mall in Harare, Zimbabwe is not actually for sale. The purported $120 million price tag was part of a training exercise for real estate agents, not a real proposed sale, according to reliable sources.
Earlier this week, there were widespread rumors that the Levy family, who owns the iconic shopping complex, had engaged Pam Golding Properties realtors to facilitate the sale of Sam Levy's Village for $120 million. This information apparently stemmed from a presentation that was allegedly made to potential investors as an investment opportunity.
However, an authoritative source has now clarified that the $120 million valuation was simply part of a training exercise conducted among the Pam Golding Properties Zimbabwe staff. The source stated definitively that "the property is not up for sale."
"I don't know how it leaked, but ask yourself this, would you really put the valuation of the shopping mall at $120 million? It should be well over $1 billion, given the number of expansions over the decades and the money that went into it," the source added.
The owners of Sam Levy's Village, the Levy family, were reportedly amused by the erroneous reports, as they are currently not even in the country at the moment. Pam Golding Properties Zimbabwe has also denied that the property is listed for sale with them.
There had been concerns that the Levy family might be looking to leave Zimbabwe, following the recent exits of some major British firms like Barclays and Standard Chartered. However, the source said the owners found the $120 million sale story "very amusing", indicating they have no plans to divest from the country.
Sam Levy's Village is an iconic shopping and entertainment destination in Harare's upscale Borrowdale suburb. Over the years, it has become a prime target for property developers in Zimbabwe. But for now, it appears the Levy family has no intention of selling this prized asset.
