Listed Tigere Property Fund (Tigere) is expanding its portfolio, with plans to acquire four commercial properties this year, alongside redevelopment works at its premier shopping centre Highland Park, as it forges ahead with its growth strategy.
In a 2026 first quarter trading update, fund manager Brett Abrahamse said the Real Estate Investment Trust (REIT) expects to finalise the purchase of four income-enhancing commercial properties this year, supported by existing pre-emptive acquisition rights.
He noted that “attractive opportunities remain across several property segments, particularly in warehousing, retail, and hospitality”.
At the same time, Abrahamse added, management plans to roll out targeted asset management and redevelopment initiatives at Highland Park, expected to improve distributable income per unit and enhance overall portfolio efficiency.
The fund – Zimbabwe’s first listed REIT – targets to lift its net asset value (NAV) to US$100 million by year-end, up from US$59.3 million recorded as at 31 March 2026.
In the medium term, Tigere targets to double NAV to US$200 million by 2028, driven largely by acquisitions and value-unlocking projects.
Tigere’s current portfolio includes Chinamano Corner, Highland Park Phases 1 and 2, Greenfields Retail Centre, and Phase 1 of the Zimre Park Retail Centre.
Operationally, Tigere reported a strong first-quarter performance, with net property income rising to US$1.2 million—more than double the US$535,632 recorded in the same period last year.
The increase reflects sustained operational momentum and firm demand across its assets.
This performance came despite external pressures, including geopolitical tensions in the Middle East, that contributed to higher oil prices and, in turn, elevated local fuel costs.
Diesel and petrol prices have increased by 35 percent and 39 percent, respectively, raising concerns about potential inflationary spillovers.
Abrahamse said the property sector continues to show resilience, partly due to its role as an inflation hedge.
Momentum from the final quarter of 2025 carried into early 2026, with tenants reporting stronger sales and improved foot traffic across several properties.
Abrahamse added that the strategic positioning of Tigere’s assets should help cushion tenant performance against shifting macroeconomic conditions.
The REIT also highlighted growing momentum in key segments such as warehousing, retail, and hospitality, where emerging developments are helping to better align supply with demand.
Infrastructure upgrades, particularly in suburban areas and along major transport routes including Mutare Road, the Bulawayo–Victoria Falls Road, and the Harare–Chirundu Highway, are expected to further support sector growth over the course of the year.
However, limited access to long-term funding remains a structural challenge.
The scarcity of mortgage financing from traditional banks continues to constrain both buyers and developers, leaving the sector heavily reliant on cash transactions and diaspora capital inflows. – TML