PROPERTY developer Mashonaland Holdings Limited (MashHold) recorded solid revenue growth in 2025, driven by improved occupancy levels and continued investment in key projects, according to its latest audited financial results.
The group reported a 13% increase in revenue to US$8.1 million for the year ended December 31, 2025, up from US$7.2 million in the prior year.
Growth was largely supported by rental income and property sales, reflecting steady demand in selected segments of Zimbabwe’s property market.
Net property income also rose to US$5.9 million, while profit after tax climbed to US$4.01 million, up from US$3.73 million in 2024. The performance underscores resilience in the group’s core business despite a challenging operating environment.
Chairperson E.G. Bema noted that Zimbabwe’s economic landscape remained difficult, characterised by tight monetary policy, inflationary pressures and currency instability. However, the property sector showed pockets of strength, particularly in well-located commercial and residential developments.
Occupancy levels improved during the year, helping to stabilise income streams. The group said it continued to benefit from sustained demand for quality office and retail space, although cost pressures and shifting tenant preferences remain key concerns.
Mashonaland Holdings also advanced several strategic projects aimed at expanding its portfolio. Notably, the Pomona Commercial Centre project continued to gain traction, with land servicing completed and progress made on infrastructure development. The company is targeting full occupancy for key projects once completed.
Investment property values rose to US$94.8 million from US$91.6 million in 2024, reflecting ongoing capital expenditure and revaluation gains. The group maintained a strong asset base, with total assets reaching over US$101 million at year-end.
Despite these gains, the company highlighted rising operating costs and funding constraints as ongoing challenges. The group said it requires significant capital to scale up developments and fully unlock value across its property portfolio.
Looking ahead, management expressed cautious optimism, citing expected economic improvements and continued demand for real estate in key urban centres. However, performance will depend on macroeconomic stability and access to affordable financing.
The financial statements received an unmodified audit opinion, confirming that they are consistent with the group’s audited accounts and comply with Zimbabwe Stock Exchange and statutory reporting requirements. – TML