Zimbabwe's first dollar investment trust for real estate launches Friday on the Victoria Falls market. Eagle REIT wants to collect $62 million but has already found $24.5 million from private investors. The money will go toward building projects in Victoria Falls and the Mazowe areas. Managers choose the dollar market instead of local money markets because dollar values are clearer. The Victoria Falls Exchange makes tracking money easier than changing local currency.
Zimbabwe already has two similar trusts on its main stock market in Harare. Large investors put money into buildings to protect against money losing value. Money managers increased property holdings to 47 percent late last year. These trusts became more popular than buying actual buildings or regular stocks. Investors like them because they pay regular cash rewards.
These property shares sell faster than actual houses or offices when people need money. The first trust listed in 2022 will soon pay money to investors for the tenth time. Zimbabwe has tried six different money systems since 2009, making safe investments hard to find. Property remains the safest place for Zimbabwe money during uncertain times. Most experts believe building prices will keep rising because demand stays high.
Zimbabwe already has two similar trusts on its main stock market in Harare. Large investors put money into buildings to protect against money losing value. Money managers increased property holdings to 47 percent late last year. These trusts became more popular than buying actual buildings or regular stocks. Investors like them because they pay regular cash rewards.
These property shares sell faster than actual houses or offices when people need money. The first trust listed in 2022 will soon pay money to investors for the tenth time. Zimbabwe has tried six different money systems since 2009, making safe investments hard to find. Property remains the safest place for Zimbabwe money during uncertain times. Most experts believe building prices will keep rising because demand stays high.
