- Mash Holdings’ rental income rose 15% from US$2.7 million to US$3.1 million, driven by new tenants at the Pomona Commercial Centre and strong rental collections of 92%
- The company achieved an overall occupancy rate of 88%, with Pomona Centre at 50% occupancy
- Revenue edged up 1% to US$53.66 million, but profit after tax fell 36% to US$1.57 million
Harare - Mashonaland Holdings Limited, a prominent property and investment company listed on the Zimbabwe Stock Exchange (ZSE), reported strong rental income growth in the first half of 2025, by its development projects according to the half year financial statement.
Rental income increased by 15%, rising from US$2.7 million to US$3.1 million, driven largely by the onboarding of new tenants at the Pomona Commercial Centre, which became operational in late 2024.
Strong rental collections of 92% reinforced the company’s cash flow stability, demonstrating resilience amid macroeconomic pressures.
To date, the Pomona Commercial Centre is approximately 50% occupied, with the company actively seeking additional tenants to optimize occupancy and now offers 14,000 square meters of leasable space, combining wholesale and flexible warehousing solutions, with tenants actively trading.
The 12 Van Praagh Day Hospital Project began operations on 1 July 2025, generating rental income under a long-term lease while the Greendale Cluster housing development has fully sold off plan, with project completion expected in August 2025.
These developments contributed to an overall occupancy rate of 88%, highlighting the company’s ability to attract and retain tenants despite broader market challenges.
Revenue for the period stood at US$53.66 million, representing a modest 1% increase over 2024.
However, despite these operational gains, profit after tax fell sharply by 36%, dropping to US$1.57 million from US$2.38 million in 2024.
The decline was primarily due to fair value losses on investments held for trading, highlighting how market fluctuations continue to impact profitability even when core operations perform well.
Market trends show growing demand for smaller, energy-efficient office spaces in suburban areas, while CBD retail properties are being reconfigured to attract higher yields.
Looking ahead, the company remains optimistic, supported by projections from the Minister of Finance, Economic Development and Investment Promotion, which forecast 5.4% growth in the real estate sector in 2025, up from 2.1% in 2024, as investors increasingly view property as a safe haven for capital preservation.
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