Property Market Overview
The property market is characterized by:
- CBD office and specialised industrial sectors remain worst affected, retail and office parks demand remains strong
- Periodic repricing of rentals in line with exchange rate movements and inflation
- High demand for properties to acquire
- Increased owner occupied developments
- Aging stock with limited new product
Broad Property Portfolio Overview
- 93 properties in Zimbabwe, diversified by location – in Harare, Bulawayo, Gweru, Mutare, Kwekwe, Kadoma, Zvishavane, Chivhu and Nyanga
- ZWL 7.195 billion property portfolio value at 30 June 2020, invested in industrial, office, retail and residential sectors
- Valuation in USD is USD 112,880,000
- ZWL 2.538 billion market capitalisation at 30 June 2020. Discount to NAV of 56%
Financial Performance Highlights
- Investment properties: +417% YoY
- Shareholder’s equity: +398% YoY
- Operating profit: +138% YoY
- Rental Income: +500% YoY
- Net Property Income: +397% YoY
- Admin. expenses: +700% YoY
- Rental yield: -3% YoY
- Occupancy level: +7% YoY
- Average rental per sqm: +497% YoY
