Tigere Property Fund is set to become Zimbabwe’s first listed Real Estate Investment Trust (REIT) following the publication today of its prospectus and announcement of listing dates to the public.
Following regulatory approval in 2021, the listing of Tigere will be a significant milestone for the Ministry of Finance, the Zimbabwe Stock Exchange (ZSE), and the broader investor community.
“We are delighted to announce the listing of the Tigere REIT, which is an important step in developing and strengthening the capital markets, as well as building a strong real estate sector within Zimbabwe. Our seed assets are already performing exceptionally well, with income and occupancy levels trading ahead of initial expectations.” commented Brett Abrahamse of Terrace Africa Asset Management.
The Tigere REIT will be listed on the Zimbabwe Stock Exchange under the symbol TIGZ and will provide an opportunity for investors to own a stake in high quality commercial property through a highly regulated financial structure.
The Tigere REIT, which was approved by the Securities and Exchange Commission in July 2022 is set to enhance the current property investment market through improved transparency, liquidity and compulsory dividend pay-outs.