THE Tigere Property Fund (Tigere) is targeting a US$100 million net asset value (NAV) by the end of 2026 through another round of acquisitions, underpinned by a planned mixed-use development in Highlands and commercial property expansion beyond Harare.
The expansion drive forms part of a three-year roadmap to grow the fund’s Tigere Real Estate Investment Trust’s (REIT) NAV to US$100 million in 2026, US$150 million in 2027, and US$200 million by 2028.
As part of its NAV growth strategy, the fund is targeting dividend yields on NAV of 7% in 2026, 7,15% in 2027, and 7,25% in 2028, as it seeks to enhance returns for unitholders.
These targets are in the fund’s newly released 2025 Integrated Annual Report for the period ended December 31, 2025.
This growth is expected to be driven by strategic commercial property acquisitions, geographical expansion and asset optimisation initiatives, according to the fund’s asset managers, Terrace Africa Asset Management (TAAM).
“A key step in our sectoral diversification strategy is the planned 2026 acquisition of the Design Quarter, a high-end modern mixed-use building located in the heart of Highlands,” TAAM managing director Brett Abrahamse said in the fund’s 2025 Integrated Annual Report.
“The exciting development spans 5 600m2 of gross lettable area, and includes blue chip tenants across the office, retail and showroom segments, as well as a rooftop restaurant over-looking the skyline.
“Privately developed by the REIT Manager and Sponsor, the project is set to accentuate and optimise Tigere’s existing asset base.”
- Property firm lists REIT on ZSE
- Tigere REIT to pay out quarterly forex dividends to shareholders
- Tigere REIT unitholders enjoy 16,08% increase in dividend payout
- Ceteris Paribus: REITs and stocks: which way to go?
Keep Reading
He said they expected the performance at Highland Park to experience a fresh boost of footfall and turnover metrics due to the interlinking pedestrian bridge.
The current NAV was reported at US$59,49 million as at December 31, 2025, meaning the fund is targeting more than a threefold increase over the next three years.
Its current portfolio includes Highland Park Phases 1 and 2, Greenfields Retail Centre, Chinamano Corner, and the Zimre Park Drive-Thru development.
“In addition to increased sectoral diversification, we also aim to grow the Fund from a geographical perspective through the acquisition of various retail assets in Gweru and Kadoma, situated along high traffic roads such as Bulawayo and Harare Road,” Abrahamse said.
“While we forge ahead with external growth plans, we are pleased to announce some key asset management growth initiatives for the year ahead.
“Asset Management changes within our existing portfolio is necessitated through the requirement to keep our properties looking fresh and enhanced through strategic renovations.”
The enhancements allow the Tigere REIT to maximise the rental value per square metre of existing space, while concurrently bringing in a fresh injection of modernisation and prestige to our flagship asset.
“After conducting a thorough cost-benefit analysis, we believe that the benefit of additional and sustainable income significantly outweighs the costs of short-term disruptions to income.
“More importantly, these planned changes align with this year’s over-arching theme — sustainable income growth and asset optimisation.
“This is not only achieved through portfolio growth, but through intentional improvements to the existing asset bases.”
