Zimre Property Investments

What Zimre Property Investments does

Zimre Property Investments (ZPI) is a Zimbabwe-based property company incorporated on 27 January 2003 as a subsidiary of Zimre Holdings Limited (ZHL), the diversified financial services conglomerate. ZPI was established to coordinate and grow the group's property development activities following the disposal of National Real Estate (Private) Limited, and has since expanded its scope to serve both private and public sector clients outside the group. As of October 2020, ZHL completed an offer to acquire all minority shares in ZPI, consolidating full ownership under the parent.

The company operates a diversified property portfolio spanning retail, office, student accommodation, and hospitality assets across three Zimbabwe locations: Harare (headquarters), Bulawayo, and Victoria Falls. Major assets include the Sawanga Shopping Mall in Victoria Falls (23 shops plus food courts and a service station, completed November 2019 at a US$13 million build cost), Nicoz House in Bulawayo (a 194-unit student accommodation facility with biometric access and an in-house restaurant), Zimre Lodge Kariba, and the Baobab MV Houseboat. Investment properties were independently valued at ZWL$2.25 billion by Knight Frank as of June 2020, with reported portfolio vacancy at 23%.

ZPI generates revenue from five streams: rental income (the primary recurring stream from office and retail leases), property development (acquiring undeveloped land and improving it with infrastructure), project management fees for construction and refurbishment mandates, valuation services (commercial, industrial, and residential), and agency/sales commissions. For the year ended 31 December 2019, total revenue was ZWL$30.12 million (+8% year-on-year), comprising ZWL$16.08 million in rental income and ZWL$12.97 million in projects income (+15%). The company distributes primarily through direct sales offices in Harare and Bulawayo, an online tenant application portal, and listings on property.co.zw. Technology infrastructure is minimal: the corporate website runs on a standard Multix CMS with Codeigniter framework, and no proprietary technology platform or AI capabilities are disclosed. The customer base spans commercial tenants, retail occupiers, students, and property sellers/buyers, with self-reported figures of 250 clients, 150 projects, and 300 reviews.

Name

Zimre Property Investments

Legal name

Zimre Property Investments Limited

Website

https://zimreproperties.co.zw

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

1–10 employees

Short description

Zimre Property Investments is a Zimbabwe-based property subsidiary of Zimre Holdings Limited, operating a diversified portfolio of retail, office, student accommodation, and hospitality assets across Harare, Bulawayo, and Victoria Falls, offering development, management, valuation, and agency services.

Ownership category

akta.pro rank

Product category

Real Estate Services

NAICS

Offices of Real Estate Agents and Brokers (5312), Portfolio Management and Investment Advice (52394)

SIC

Real Estate Agents & Managers (For Others) (6531), Real Estate Dealers (For Their Own Account) (6532), Investment Advice (6282)

akta.pro primary industry

Real Estate Strategy & Portfolio Consulting (Corporate/Institutional) (BPAJANAB)

akta.pro secondary industry

Capital Markets Advisory (Equity Placement, JV & Recapitalization) (BPAJABAL)

Keywords

• Property development
• Property management
• Commercial property leasing
• Property valuation services
• Student accommodation

Headquarters

HQ city

Harare

HQ country

Zimbabwe

HQ region

Africa

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Others

Revenue model

1. Rental Income: Primary revenue stream from leasing and managing a diversified property portfolio consisting mainly of office and retail properties. Rental income boosted by regular upward reviews and improved turnover rental on retail space.
2. Property Development: Acquiring undeveloped land and improving with infrastructure for development of built structures or serviced land for sale or retention as assets for rental income.
3. Project Management Fees: Management of construction and/or refurbishment of various buildings contributing significantly to total income.
4. Valuation Services: Commercial, industrial and residential valuations including valuations for financial reporting purposes, insurance, acquisitions and disposals.
5. Agency and Sales: Listing and selling properties on behalf of property owners, providing network of buyers and sellers with marketing services.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

Zimre Property Investments develops, owns, and manages a diversified property portfolio across Zimbabwe, comprising office, retail, student accommodation, and hospitality assets. The company also offers integrated property services including project management, valuation, and agency & sales to both private and public sector clients.

Product overview

Zimre Property Investments operates a diversified property portfolio across Zimbabwe, consisting of retail, office, and hospitality properties. The company offers property development, property management, valuation services, agency & sales, and project management services. Key properties include Sawanga Mall (retail), Nicoz House (student accommodation), and Zimre Lodge Kariba (hospitality). The portfolio includes completed developments in Victoria Falls and Bulawayo, with investment properties valued at ZWL2.25 billion as of June 2020.

Differentiator

Problem solved

Functional benefit

Products and services

• Sawanga Mall A retail shopping mall in Victoria Falls, Zimbabwe featuring 23 shops, banks, concept houses, food courts, restaurants, coffee shops, a service station and curio shops for retail tenants.
• Nicoz House Student Accommodation Student accommodation facility in Bulawayo CBD with 194 residential units across 5 floors and 440m2 of retail space. Offers fully furnished rooms with biometric access, free WiFi, and in-house restaurant for university and college students.
• Zimre Lodge Kariba Luxury lodge strategically located on Mica Point hilltop offering unobstructed views of Lake Kariba and neighbouring Zambia for hospitality guests.
• Zimre Houseboat (Baobab MV) Baobab MV Houseboat is Kariba's 4-star luxury cruiser with four en-suited cabins, tastefully furnished with beautiful wooden finishings and a top deck with feature bar for hospitality guests.
• Property Management Leasing and managing ZPI's diversified property portfolio consisting mainly of office and retail property, including letting, contracting, maintenance, and tenant credit checks for commercial and retail tenants.
• Property Development Acquisition of undeveloped land with onsite and offsite infrastructure development, providing base for built structures or subdivided serviced land for sale or retention as assets for rental income, for property developers and investors.
• Project Management Management of construction and/or refurbishment of various buildings including shopping centres, office buildings, and housing development projects, for private and public sector developers.
• Valuation Services Commercial, industrial and residential valuations for financial reporting, insurance, acquisitions, disposals, development land and feasibility appraisals, for property owners, financial institutions, and investors.
• Agency & Sales Listing and selling properties on behalf of property owners, providing network of buyers and sellers, free market analysis, and advertising services, for property owners and prospective buyers.
• Property Investments Investment property services for clients seeking to invest in real estate assets, leveraging ZPI's diversified property portfolio expertise.

Quantifiable outcome

• Portfolio void levels improved to 22% compared to 28% the previous year (2019).
• +1 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Knight FrankcoreOthers · 30 June 2020Knight Frank serves as independent property valuers for the company, valuing investment properties at ZWL$2.25 billion as at 30 June 2020.

Scale indicators10 records

Recent moves7 records

Expansion highlights4 records

Others

• CBRE: Global commercial real estate services firm offering valuation, advisory, property management and capital markets services. Comparable for the property management, valuation and agency services that ZPI also performs.
• Knight Frank: Global real estate services firm and ZPI's independent property valuer (valued the portfolio at ZWL$2.25B in 2020). Comparable as a peer in real estate advisory, valuation and brokerage services even though not a principal investor.
• Cushman & Wakefield: Global real estate services firm offering valuation, asset management, brokerage and project management. Comparable as a global peer operating in the same property services verticals where ZPI is active.

Direct peers

• First Mutual Properties: Zimbabwe property subsidiary of First Mutual Holdings managing a diversified investment property portfolio. Comparable as a domestic, diversified property owner-operator with development exposure.
• Mashonaland Holdings Limited: Zimbabwe-listed property investment company with a diversified office, retail and industrial portfolio managed for shareholders. Closest direct peer to ZPI given similar Zimbabwe-focused property ownership and management model.
• Dawn Properties Limited: Zimbabwe-listed property company involved in property investment, development and letting across residential, commercial and industrial assets. Directly comparable in scale, mandate and Zimbabwe market focus.

Regional players

• African Sun Limited: Zimbabwe-listed hospitality group operating hotels and resorts. Comparable for Zimre's hospitality exposure (Zimre Lodge Kariba, Zimre Houseboat) and as a Zimbabwe-domiciled real-estate-linked operator.

Broad incumbents

• Old Mutual Property Investments Zimbabwe: Property investment arm of Old Mutual in Zimbabwe, managing commercial property portfolios. Comparable as a larger, established incumbent offering overlapping services (leasing, management, valuation) in the same market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Zimre Property Investments