Tigere Real Estate Investment Trust (REIT) reported a resilient performance for the third quarter of 2025, underpinned by a stable local currency, strong investor demand in the property sector, and positive economic indicators such as robust tobacco auction results and rising gold prices.
The REIT also declared a US dollar-denominated dividend and announced plans for strategic asset acquisitions to enhance portfolio yield.
The local currency maintained stability due to the Reserve Bank of Zimbabwe's prudent monetary policy, which included controlled money supply, steady bank policy rates, and maintained statutory reserve ratios.
Additionally, robust tobacco auction season and rising gold prices contributed positively to fiscal revenues during the quarter. The property market in Zimbabwe continued to benefit from diasporan inflows and local institutional investors looking for alternatives amidst currency uncertainties.
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This demand led to increased development in cluster housing, retail spaces, and warehousing. Infrastructure improvements in key urban areas also contributed to positive sentiment in the sector.
Portfolio occupancy slightly dipped at Highland Park Phase 1 to 98.7% due to a planned vacancy related to tenant turnover, while the positive income from the Highland Park Phase 2 acquisition persisted across the portfolio. Despite parking challenges from nearby bridge construction, tenant turnover was strong, and an uplift in footfall and turnover is expected as summer approaches.
Tigere REIT announced its intention to acquire two income-generating assets in the fourth quarter of 2025, pending unitholder approval. This move is expected to enhance yield and diversify the portfolio further. The REIT manager advised caution to unitholders and the public when trading units on the Zimbabwe Stock Exchange. A quarterly dividend of US$519,100, equivalent to 0.0485 US cents per unit, was declared for the quarter ending September 30, 2025.
This marks Tigere REIT's twelfth consecutive quarterly dividend since listing and its eighth consecutive dividend paid fully in US dollars.
The manager anticipates stable and marginal dividend growth for the rest of the financial year. Key unaudited performance indicators for the period include a net asset value of approximately US$34 million, net property income of US$1.28 million, and total comprehensive income around US$854,000.
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