Global brands eye Zimbabwe retail space

Zimbabwe's retail property sector is witnessing a surge in interest from international brands seeking to establish or expand operations in the country, according to the fund manager of Tigere Real Estate Investment Trust (Tigere REIT).

Speaking in an interview with CapitalkFM following the release of the company's financial results, Tigere Property Fund director Brett Abrahamse said the company is receiving enquiries from global brands almost every week.

"It's amazing. I would say on a weekly basis, we are getting contacted by a new international brand that is looking to either enquire for space or grow a business within them," Abrahamse said.

He attributed the surge in interest to improving macroeconomic conditions, particularly greater stability in Zimbabwe's currency markets.

Zimbabwe's annual inflation slowed to about 3.8 percent in February 2026, reflecting tighter fiscal and monetary coordination and improved policy discipline.

According to Abrahamse, this environment has increased confidence among international retailers who now see Zimbabwe as a viable destination for investment once again.

The availability of modern commercial property has also played a key role in attracting global brands.

Tigere Real Estate Investment Trust owns a portfolio that includes Highland Park, Chinamano Corner, Greenfields Retail Centre and the upcoming Design Quarter development.

Abrahamse said these developments have raised the standard of retail infrastructure in the country.

"There's a lot more space available — quality retail space — and that's positive for the market. I think it lifts everyone's game," he said.

Greenfields Retail Centre, acquired by Tigere in late 2025, has already exceeded expectations after reaching full occupancy. The shopping centre is anchored by Spar and supported by outlets such as Hungry Lion, Spur and Rollers Entertainment.

Tigere REIT has reported strong financial results, with real income rising to approximately US$2.3 million.

The company's net asset value currently stands at about US$60 million across five assets, while its market capitalisation has reached around US$100 million following recent property acquisitions.

Lower operating expenses have also helped the REIT maintain consistent dividend payments.

The company is targeting a net asset value of US$100 million by the end of the 2026 financial year and US$200 million by 2028.

To sustain growth, Tigere is developing additional assets beyond retail properties, including light industrial and hospitality investments.

New projects are planned in Kadoma, Gweru and Bulawayo, the latter through a partnership with the Zimbabwe International Trade Fair.

"There hasn't been much investment in Bulawayo over the last few years and we're excited to hopefully provide a catalyst for more development there," Abrahamse said.

In Harare, the 5,500-square-metre Design Quarter — located opposite Highland Park — is expected to open in the third quarter of 2026. The mixed-use project will include retail outlets, premium office space and a rooftop restaurant.

Meanwhile, the company is accelerating development of a new shopping centre in Zimre Park following strong trading at the existing drive-through complex anchored by Puma and KFC. A Steers drive-through outlet is also expected to open soon.

Abrahamse noted growing retail activity along ED Mnangagwa Road, comparing the emerging commercial corridor to Rivonia Road, where multiple retail nodes operate successfully.

"Harare is the economic capital of the country and there's room for everyone. New developments help maintain high quality standards across the sector," he said.

Retail market analyst Tariro Matsanga said the growing interest from international brands reflects Zimbabwe's long-term consumer potential.

"It signals that global retailers still see opportunities in the market despite short-term economic challenges," she said.

Economist Nyasha Dube added that global retailers increasingly prefer professionally managed shopping centres where tenant stability and foot traffic are predictable.

Another economist, Tinevimbo Shava, said the trend indicates rising confidence in Zimbabwe's organised retail sector.

"Such interest could improve occupancy levels, strengthen rental income and ultimately support stronger returns for investors," he said.

Analysts believe that if macroeconomic stability is sustained, Zimbabwe's retail property sector could continue attracting global brands seeking to tap into the country's consumer market.