Half Year Results 2024
Half Year Results 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.
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Why invest in First Mutual Properties limited?
A Future-Focused Investment in Real Estate Excellence
First Mutual Properties Limited is a leading player in Zimbabwe’s real estate sector, offering a compelling investment opportunity built on financial resilience, strategic growth, and sustainability. With a diversified portfolio spanning office parks, industrial properties, suburban retail, and mixed-use developments, the company consistently delivers value through robust performance and innovative property solutions. Its commitment to green building practices, strategic market expansion, and stakeholder-focused management ensures long-term value creation. Explore our investment case to discover why First Mutual Properties is the partner of choice for real estate investment in Zimbabwe.
Half Year Results 2024
Elisha K. Moyo, Chairman of the Board
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.
Performance Highlights
Half Year Results 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$412,169 was spent on maintenance in the first half of the year.
Revenue (US$)
4.34 million
2023: 1.17 million
271%
Net Property Income (US$)
2.38 million
2023: 0.19 million
1125%
Total Assets (US$)
134.58 million
2023: 185.92 million
28%
