Tigere Real Estate Investment Trust has called for an Extraordinary General Meeting of unitholders to consider the proposed acquisition of two new income-generating properties — the Greenfields Retail Centre and the Zimre Park Drive-Thru — as part of its portfolio expansion strategy.
According to an abridged circular issued on Friday, October 17, 2025, the two assets carry a combined market value of approximately US$25.1 million, with the transactions to be settled through the issuance of 770.5 million new Tigere REIT units. Upon completion, these new units will represent 41.8% of the total units in issue.
The Greenfields Retail Centre, located along Samora Machel Avenue, is a modern retail complex anchored by Spar and complemented by several entertainment and food outlets, including Hungry Lion, Spur, and Rollers Entertainment.
Opened in December 2024, the property has achieved full occupancy and is positioned as a family-oriented shopping and leisure destination. Future developments at Greenfields include a Steers Drive-Thru, a fuel station, and a Jurassic Safari Theme Park, scheduled for completion in 2026.
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The second asset, the Zimre Park Drive-Thru, represents the initial phase of the planned Zimre Park Retail Centre along the Harare–Mutare Highway.
The property currently hosts a Steers Drive-Thru operated by Simbisa Brands, with further development expected in 2027 to include additional retail components and an anchor tenant.
Tigere REIT stated that the acquisitions are expected to enhance its income yield and broaden its geographic diversification, marking its first investment outside the Harare metropolitan area. The combined net initial yield of the two assets is projected at 7.15%, up from the fund’s 2024 yield of 5.26%.
“The proposed acquisitions align with the REIT’s mandate to deliver sustainable income growth and capital appreciation through strategic investment in quality real estate,” the fund noted in the circular.
If approved, the transactions are expected to increase Tigere REIT’s Net Asset Value to US$59.2 million, while also improving its operational efficiency and unitholder dividend outlook.
The EGM is scheduled to take place via teleconference on Monday, November 3, 2025, with proxy forms due by October 30, 2025.
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