Browsing: property

Growthpoint Properties Limited published its financial results for 2021 on the 15^th of September 2022.

The real estate investment trust (REIT) is the largest such listed entity on the Johannesburg Stock Exchange and is reliable indicator for the sector as a whole. The real estate sector in South Africa as in the rest of the world was one of the biggest casualties of the COVID pandemic. REITs on the JSE were not spared.

The COVID pandemic created a perfect storm for property owners in South Africa. When COVID spread to the rest of the world after beginning in Wuhan in China in 2019 two things happened that adversely affected the REIT sector on the JSE including Growthpoint.

• Growthpoint Properties Limited which is the largest REIT listed on the JSE announced its results on the 15^th of September 2022.
• Results for the REIT reflected an improved operating environment for

Real estate investment trusts or REITs do not yet exist in Zimbabwe.

This will not be the case for long as internationally ubiquitous investment security is soon to be introduced to the country’s investment landscape. Only 5 other countries in Africa have this security or asset class as part of their respective investment landscapes.

The listed property sector in Zimbabwe on the stock exchange has been in a state of flux. The way that it looks right now is very different from the way that it looked like 15 to 20 years ago. There are only 2 pure play property companies listed on the Zimbabwe Stock Exchange namely Mashonaland Holdings and First Mutual Properties. Both companies are heavily involved in commercial and office real estate and to certain extent residential property.

Over the last 5 years, two other companies that were listed under the property category were delisted and …