- Tigere recorded US$535,632 in net property income for first quater 2025
- The company maintained 100% occupancy at flagship properties: Chinamano Corner, Highland Park Phase 1, and Phase 2
- The REIT plans to add two new assets in Q3 2025 to meet strong tenant demand, leveraging pre-emptive rights to acquire completed projects
Harare-Tigere Property Fund , a real estate firm listed on the Zimbabwe Stock Exchange (ZSE) has recorded US$535 632 in net property income for the first quarter ended 31 March 2025 from US$376 404 in the comparative period according to the company’s latest trading update.
This increase was due to a 100% occupancy sustained at flagship properties, Chinamano Corner, Highland Park Phase 1 and Phase 2 during the period.
‘’We maintained 100% occupancy across our existing portfolio, which includes Highland Park Phase 1, Chinamano Corner, and the recently added Highland Park Phase 2 asset,’’ the trading update reads.
The REIT experienced a significant rise in total comprehensive income , reaching US$451 249 from US$257 620 in the same period last year.
The net asset value (NAV) of the company slightly increased to US$34.1 million from US$34 million indicating that the value of the company’s assets exceed its liabilities reflecting positive growth and financial strength.
In response to the strong tenant demand , the company plans to add two new assets in Q3 of this financial year (2025) , as part of its pre-emptive right to acquire completed assets developed by the REIT Sponsor.
This move will generate additional income and contribute to the overall growth of the company.
Meanwhile ,the company holds a pre-emptive right to acquire Greenfield Retail Centre upon its completion.
This represents a significant opportunity for the REIT to expand its portfolio and capitalise on the promising potential of the new development.
As a result , the REIT have declared its 10th consecutive dividend amounting US$507,250 (USD 0,0474 cents per unit) for the quarter.
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