Eagle REIT debuts on VFEX in landmark listing
STAFF WRITER
The Victoria Falls Stock Exchange (VFEX) has achieved a major milestone by recording its first-ever Real Estate Investment Trust (REIT) listing — a move poised to unlock offshore capital for infrastructure development and diversify Zimbabwe’s capital markets.
The Eagle Real Estate Investment Trust (Eagle REIT), promoted by Zimre Holdings Limited (ZHL), was officially listed on VFEX last Friday in a brief ceremony officiated by Finance, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube.
“This marks a historic first for the VFEX,” said Prof Ncube. “It signifies a strategic shift towards leveraging offshore capital for local infrastructure development and sets a precedent for future REIT listings.”
The Eagle REIT will anchor two major infrastructure projects — Mazowe Walk and Victoria Falls Eagle Heights — and is structured as a US dollar-denominated fund, making it attractive to both local and international investors seeking hard currency returns.
“This innovative asset class is further evidence of the continued growth and deepening of Zimbabwe’s capital markets,” Prof Ncube said. “The listing aligns with our drive to mobilise domestic and international resources towards infrastructure development and economic diversification.”
The Finance Minister also underscored the government’s commitment to supporting the real estate sector and urged collaboration from key stakeholders, including local authorities, regulators, pension funds, and banks.
“The listing signals Zimbabwe’s readiness to align with global trends in property securitisation and investment diversification,” he added.
ZHL board chairperson, Mr Desmond Matete, said the REIT is designed to deliver both competitive returns and catalytic infrastructure.
“Our goal is to crowd in investment for high-impact developments in line with the government’s vision of turning Victoria Falls into a Special Economic Zone for tourism and offshore financial services,” Matete said.
He added that Eagle REIT’s structure was tailor-made to target a broad investor base across the region and internationally.
ZSE group board chairperson, Mrs Caroline Sandura, said Eagle REIT becomes the 16th counter on VFEX, which has been steadily expanding since inception.
“Each new listing is a vote of confidence in our infrastructure, regulatory environment, and the potential of VFEX as a regional investment hub,” Sandura said.
She described the listing as heralding a new era of investment approaches that allow broad-based participation in the country’s development ambitions.
Eagle REIT will channel investments into tourism infrastructure, retail centres, residential projects, and healthcare facilities — all considered critical to Zimbabwe’s national infrastructure portfolio.
With the listing, Zimbabwe not only diversifies its investment vehicles but also signals a new momentum in using property securitisation as a tool for economic transformation.
