Tigere Real Estate Investment Trust nearly doubled its annual profit to US$2.68 million for the year ended December 2025, driven by strong rental income growth, new property acquisitions, and high occupancy levels across its expanding portfolio.
Audited results show that total comprehensive income almost doubled to US$2.68 million from US$1.35 million in 2024, while rental revenue increased to US$2.64 million from US$1.66 million. The growth was largely driven by the expansion of the trust’s investment property portfolio.
Net asset value rose significantly to US$59.49 million from US$34.03 million in the previous year, reflecting new acquisitions and fair value gains on existing properties.
The trust maintained strong operational performance, achieving an average occupancy rate of 97 percent, supported by new tenants and fully leased recently acquired properties.
Growth during the year was largely attributed to the inclusion of newly acquired retail assets and the first full-year contribution of Highland Park Phase 2.
Investment property value increased by 75.6 percent to US$58.41 million, supported by acquisitions and upward property valuations.
Net property income rose by 61 percent to approximately US$2.73 million, aided by lease escalations, improved rentals, and positive tenant turnover, particularly at retail centres.
Management said tenant performance remained resilient, with collection efficiency improving to 97.3 percent after trade receivables declined sharply during the year.
Operating efficiency also improved, with the operating expenses ratio declining to 16.5 percent from 23.2 percent in 2024.
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Distributable income per unit increased by 23.2 percent, while dividend per unit rose by 28.2 percent, boosting returns to investors.
The trust declared a quarterly dividend of US$847,250, equivalent to 0.04602 US cents per unit, in line with its strategy of providing predictable income streams.
The REIT reported a strong balance sheet, with no additional debt taken on during the year.
Total assets increased to US$60.25 million, while liabilities remained relatively low at approximately US$756,550, leaving the trust largely equity-funded.
Cash balances rose to US$1.75 million, providing liquidity for future investments.
Independent auditors issued an unmodified audit opinion on the financial statements, confirming that they fairly present the trust’s financial position in accordance with international financial reporting standards.
Management said Zimbabwe’s property sector grew by about 5 percent in 2025, supported by urbanisation, housing demand, and diaspora investment.
Retail properties in suburban locations performed strongly during the year, although central business districts continued to experience high vacancy levels.
The trust said it expects further growth as it pursues additional commercial property acquisitions in the coming financial year.
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