Online Reporter
Tapiwanashe Mangwiro, Zimpapers Business Hub
Tigere Real Estate Investment Trust (REIT) delivered a resilient performance in the third quarter to September 30, 2025, reflected in consistent dividend payouts, strong occupancy and continued portfolio stability.
The trust also revealed plans to expand its asset base before the end of the year.
The Zimbabwe Stock Exchange-listed fund declared a quarterly dividend of US$519 100, equivalent to 0,0485 United States cents per unit. It marks the twelfth consecutive quarterly distribution since listing, and the eighth fully denominated in US dollars.
“In line with our ongoing commitment to pay quarterly distributions, we have declared another dividend for the period,” the REIT manager said.
“We forecast stable and marginal growth in dividends for the remainder of the financial year.”
Highland Park Phase 1, Tigere’s flagship development, recorded a minor occupancy dip to 98,7 percent due to what the fund described as a planned vacancy brought about by a tenant change.
Despite the adjustment, the REIT stressed that tenant turnovers during the quarter were extremely robust, reflecting sustained consumer activity even amid temporary disruptions caused by the Highlands Precinct bridge installation works.
The integration of Highland Park Phase 2, acquired earlier this year, continued to strengthen the fund’s income profile.
“The accretive income effects of the Highland Park Phase 2 acquisition are still being felt across the portfolio,” management noted. Looking ahead, the REIT expects a strong uplift in footfall and turnover income as the summer trading period approaches.
On September 12, 2025, the trust issued a cautionary notice outlining plans to acquire two additional income-generating assets in the final quarter of 2025.
“Should the transaction be approved by unit holders, the REIT manager expects the target properties to further bolster the yield and diversify the underlying portfolio,” the update said.
For the three months to September 30, net property income rose to US$1,47 million from US$1,28 million a year earlier.
Net asset value stood at US$34,03 million, marginally higher than the US$34 million recorded at the end of September 2024.
Total comprehensive income for the quarter was US$854 413.
Analysts say the figures highlight the resilience of Zimbabwe’s property market, which has been buoyed by a mix of diaspora inflows and institutional investors seeking shelter from local currency volatility.
The sector has seen rising investment in cluster housing, warehousing, and retail spaces, supported by ongoing infrastructure upgrades in urban centres.
The trust acknowledged that the broader macroeconomic backdrop remains mixed.
“The local currency unit maintained its stable trajectory following a well-managed monetary policy approach adopted by the RBZ,” the update said.
This has been anchored by minimal money supply movements, maintenance of the bank policy rate and the maintenance of statutory reserve ratios.
At the same time, a strong tobacco auction season along with strengthening gold prices helped bolster fiscal revenues during Q3.
While infrastructure constraints and policy risks persist, Tigere’s management emphasised, “The REIT remains focused on cautious expansion and disciplined capital allocation as it navigates Zimbabwe’s evolving operating environment.”
Londile Moyo