Zim Now Reporter
Mashonaland Holdings, a property investment and development company, has reported a 15% increase in rental income to US$3.1 million for the June half-year.
The growth was driven by new tenants at the Pomona Commercial Centre, which offers 14,000 square meters of lettable space. Currently, 6,500 square meters have been leased out, and the company is actively engaging potential tenants for additional lettings.
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The company had initially planned to have OK Mart as the anchor tenant at Pomona, but OK is currently reviewing its strategy as it seeks a turnaround. Despite this, Mashonaland Holdings remains optimistic about the property market.
“The property market is forecast to remain segmented, with sustained demand for USD-linked leases in prime and suburban locations, and industrial/logistics assets benefiting from mining and trade.”
Revenue rose to US$3.66 million in the six months ended June 30, 2025, up from US$3.1 million in the same period last year. However, profit after tax fell 36% to US$1.57 million.
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