Investor Relations

Performance Highlights

HY – 2024

Management continued to engage the tenants for timeous rental payments. For the half year, the collection rate achieved was 56%. The Company is committed to providing its tenants with a quality and safe product (property). To this end, US$412,169 was spent on maintenance in the first half of the year.

FMP HY2024: Net Property Income: +1,125%

Despite the ongoing uncertainty, the business plans to navigate the situation by implementing strategic growth strategies that aim to increase shareholder value. This includes investing in lucrative properties that can serve as a safeguard against inflation. Additionally, the business will prioritise maintaining high occupancy levels by effectively managing client relationships and offering quality and secure products through continuous property refurbishment, maintenance, and upgrades.

Elisha K. Moyo, Chairman of the Board

First Mutual Properties Limited

First Mutual Properties, formerly known as Pearl Properties Limited, is a subsidiary of First Mutual Holdings. It is a real estate company with vested interests in the development and management of commercial properties in the major towns of Zimbabwe.

First Mutual Properties has a significant property portfolio, comprising some 124 178 square metres of lettable space made up of office parks, retail shops, commercial and industrial property. It owns and manages 41 buildings in the major economic hubs of Zimbabwe, including high-rise commercial buildings, industrial and warehouse properties and retail outlets. First Mutual Properties also has a residential trading stock of two- and three-bedroomed garden flats in Avondale, Harare.

3 Reasons to Consider Investing in First Mutual Properties Limited

Prime Investments

Investments in prime properties in the major towns and cities of Zimbabwe, comprising about 122 300 square metres of lettable space made up of office parks, retail shops, commercial and industrial space

Value Creation Trend

Our strategy is based on and informed by three pillars underpinning the core business, namely, risk management, wealth creation and wealth management

Strategic Positioning

The Group remains strategically positioned to exploit opportunities that may arise within the market through its investments in brownfield and prime greenfield developmental sites