REITs are beginning to deliver tangible returns in Zimbabwe and those investments are creating opportunities for expansion in to other parts of the country ๐ฟ๐ผ
Terrace Africa will definitely deliver .
Work kicking off at Bulawayoโs Fairgrounds, a new shopping complex being developed by @terraceafrica for the Tigere Property Fund. Itโs due to be completed in 2027.
Tigere is a ZSE-listed real estate investment trust (REIT) that currently holds Highland Park, Chinamano Corner, Greenfields and Zimre Park Drive-Thru.
Four more properties are being added to the Tigere portfolio this year, including Cardinals Corner and the Design Quarter at the Highland Park Precinct.
Tigere is targeting rapid growth in net asset value (NAV), the total value of a property portfolio after taking out liabilities.
Tigere wants to grow NAV from US$60 million last year to US$100 million this year, and US$200 million by end of 2028.
[๐ฅ Mandebvu Contracting]
One thing Iโm grateful for is not having to bootlick the system to survive. Itโs sad that so many Zimbabweans are forced into that position.
Kutozopfeka suit ๐๐
Edgar's results are really interesting. Is formal retail back?
Revenue increased by 12% while overall expenses remained about flat. Profit more than doubled, and it was supported by cash flows, so it wasnโt just a paper profit.
This is definitely one of the most interesting (and potentially surprising) sets of results, given the narrative around formal retail.
I will still need to look at them more, e.g. how much credit is driving sales, but on first look, this seems like a pretty solid performance, especially in the current retail environment.