PPC Zimbabwe's US$30 million Arlington land deal collapses, buyer defaults on payment

PPC Zimbabwe pulled its 418-hectare Arlington Property off the market after Transvaal Africa failed to meet the June 30 payment deadline for the US$30 million transaction, forcing the cement maker to seek a new buyer. The deal's collapse signals deepening liquidity constraints in Zimbabwe's property sector, where agreed valuations repeatedly fail to translate into completed transactions. PPC's struggle to close the sale exposes a market where even strategic assets cannot reliably convert to cash, undermining balance sheet restructuring efforts.