Online Reporter
Nelson Gahadza
Zimpapers Business Hub
The Revitus Property Opportunities Real Investments Trust (Revitus REIT) says real estate remains a favoured investment in Zimbabwe, offering capital preservation and steady rental income despite macroeconomic uncertainties.
A REIT is a company that owns, operates or finances income-producing real estate.
There is growing interest in REITs in Zimbabwe due to their ability to offer a hedge against inflation and currency volatility, provide accessible entry points to real estate investment, and offer steady income streams through dividends.
Managers of the Revitus REIT, Datvest, managing director Mr Tendai Muzadzi, in a trading update for the quarter ended March 31, 2025, said recovery across commercial, residential, and industrial sectors is expected to drive gradual growth.
“The oversupply of CBD (Central Business District) office spaces from Covid-19 (period) is gradually decreasing as many are converted to mixed-use developments, with office rentals adjusting downward to meet demand.
“The REIT maintains cautious optimism, mindful of potential risks and opportunities in the CBD areas where all its properties are situated,” he said.
Revitus portfolio consists of CBD buildings, namely Africa House and Pioneer House, both in Bulawayo, and Atlas House, Charter House and Electral House all in Harare.
During the period under review, the REIT achieved a profit of US$130 892, an increase from US$102 636 during the same quarter in 2024.
The REIT’s net asset value at the close of the quarter was US$21,036 million compared to US$20,850 million in the same period in 2024. During the period under review, occupancy was at 42 per cent, up from 40 percent in 2024.
Mr Muzadzi noted that the REIT remains focused on the revitalisation of the seeded CBD office buildings to unlock value and generate sustainable US dollar earnings.
He said the pilot project for the transformation of Chester House (Harare) from office use to a licensed hotel is actively underway in collaboration with an appointed reputable international operator, with completion expected by the second quarter of 2026.
“Ongoing maintenance works at Electra House and Africa House, including elevator refurbishments, are anticipated to enhance their overall appeal, attract more tenants, and ultimately improve performance of the properties,” said Mr Muzadzi.
