Investor Relations

Performance Highlights

FY – 2023

The Group’s inflation-adjusted Net Property Income rose by 295% to ZWL 17.714 billion (FY2022: ZWL 4.484 billion) while inflation-adjusted revenue was up 193% to ZWL 40.932 billion (FY2022: ZWL13.952 billion). Rental income remains the main source of revenue.

FMP FY2023: Revenue: +193%
FMP FY2023: Net Property Income: +295%
FMP FY2023: Property Portfolio: +103%

The Group will continue to invest in profitable properties to hedge against inflation and exchange rate risks. Further, management will prioritise the maintenance of high occupancy levels by effectively managing client relationships and providing quality and secure products.

Elisha K. Moyo, Chairman of the Board

Simbisa Brands

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.

Company Information

Registered Name First Mutual Properties Limited (
ISIN ZW 000 901 202 3
Ticker Code
Sector Property
Stock Exchange Zimbabwe Stock Exchange
Chairman Elisha K. Moyo
Managing Director Christopher K. Manyowa
Company Secretary Sheila Frances Lorimer
Transfer Secretary Corpserve Registrars (Pvt) Ltd (zw)
Year End December
Year Founded 2006
Year Listed 2007

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

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