Tigere made good money in 2024 as Zimbabwe's first public Real Estate Investment Trust. The company grew despite tough government money rules. Tigere plans to keep doing well by picking good renters and buying different types of buildings. Brett Abrahamse from Tigere said their money growth came mainly from places like Highland Park Phase 1 and Chinamano Corner.
These spots stayed full with renters during the last six months of the year. They also bought Highland Park Phase 2, which filled up fast and added more cash to their accounts. The business world around them faced big problems. Zimbabwe started using a new currency called ZiG on April 5, 2024, to fight rising prices and make local cash more stable.
Abrahamse explained that people doubted how much money was going around during road-fixing projects. This caused big differences between bank rates and street rates for changing money. Zimbabwe's central bank cut the value of ZiG by almost 43 percent on September 27, 2024. The rate changed from 14 to 24.39, which helped fix the gap between bank prices and street prices.
This slowed down price increases during the last three months of the year. Tigere kept making more money thanks to having many different kinds of buildings. The company bought Highland Park Phase 2 because it wanted to depend less on stores. Before, stores made up over half of their rental space, but that number has decreased to about 26 percent.
Abrahamse said they tried to boost money by expanding beyond stores. This helps protect them when the big economy has problems. Buying Highland Park Phase 2 fits with this plan. As part of growing safely, they might also buy Greenfields Retail Centre in 2025.
Land prices keep going up across Zimbabwe, which affects the amount of money rental buildings can make. Many companies are building new places, making the battle for renters tougher. Tigere has done well by having many different kinds of renters. The company report says renters with long leases who make foreign money help protect against problems hurting local stores.
Abrahamse said their plan of choosing renters who make stable foreign money has helped keep their places full and their cash growing. He believes new store buildings will only succeed if they have renters who can handle tough times. Tigere keeps doing well because of star buildings like Highland Park Phase 1 and Chinamano Corner. These places stay full and bring steady cash.
The new Highland Park Phase 2 has reached full capacity quickly, adding to their money-making power. Looking forward, Tigere has first right to buy the $20 million Greenfields Retail Centre. This property sits along Samora Machel Avenue next to the Zimbabwe Agricultural Showgrounds. Developer Terrace Africa finished it late last year.
They plan to complete the deal by July-September 2025 after all spaces get filled with renters. Abrahamse noted that buying Greenfields will give them more variety and new ways to make money. They expect all spaces will have renters by the third quarter of 2025, letting them make a safer deal.
Tigere seems well prepared to handle ongoing money challenges. As they look ahead, focusing on different types of buildings, careful renter selection, and smart property management will help them keep growing even when business conditions remain unpredictable.
These spots stayed full with renters during the last six months of the year. They also bought Highland Park Phase 2, which filled up fast and added more cash to their accounts. The business world around them faced big problems. Zimbabwe started using a new currency called ZiG on April 5, 2024, to fight rising prices and make local cash more stable.
Abrahamse explained that people doubted how much money was going around during road-fixing projects. This caused big differences between bank rates and street rates for changing money. Zimbabwe's central bank cut the value of ZiG by almost 43 percent on September 27, 2024. The rate changed from 14 to 24.39, which helped fix the gap between bank prices and street prices.
This slowed down price increases during the last three months of the year. Tigere kept making more money thanks to having many different kinds of buildings. The company bought Highland Park Phase 2 because it wanted to depend less on stores. Before, stores made up over half of their rental space, but that number has decreased to about 26 percent.
Abrahamse said they tried to boost money by expanding beyond stores. This helps protect them when the big economy has problems. Buying Highland Park Phase 2 fits with this plan. As part of growing safely, they might also buy Greenfields Retail Centre in 2025.
Land prices keep going up across Zimbabwe, which affects the amount of money rental buildings can make. Many companies are building new places, making the battle for renters tougher. Tigere has done well by having many different kinds of renters. The company report says renters with long leases who make foreign money help protect against problems hurting local stores.
Abrahamse said their plan of choosing renters who make stable foreign money has helped keep their places full and their cash growing. He believes new store buildings will only succeed if they have renters who can handle tough times. Tigere keeps doing well because of star buildings like Highland Park Phase 1 and Chinamano Corner. These places stay full and bring steady cash.
The new Highland Park Phase 2 has reached full capacity quickly, adding to their money-making power. Looking forward, Tigere has first right to buy the $20 million Greenfields Retail Centre. This property sits along Samora Machel Avenue next to the Zimbabwe Agricultural Showgrounds. Developer Terrace Africa finished it late last year.
They plan to complete the deal by July-September 2025 after all spaces get filled with renters. Abrahamse noted that buying Greenfields will give them more variety and new ways to make money. They expect all spaces will have renters by the third quarter of 2025, letting them make a safer deal.
Tigere seems well prepared to handle ongoing money challenges. As they look ahead, focusing on different types of buildings, careful renter selection, and smart property management will help them keep growing even when business conditions remain unpredictable.
