FIDELITY Life Assurance of Zimbabwe’s (Fidelity) Eagle Real Estate Investment Trust (REIT) Fund was granted a prescribed asset status of US$60 million, providing a profitable avenue for the group to deploy investments that support regulatory compliance.
The Eagle REIT was registered last year to lead infrastructure development and wealth creation initiatives through public and private partnerships. Fidelity said the Fund made significant progress on the Mazowe Mall project and pre-project works in Victoria Falls.
The group’s profit after tax grew by 118 percent to ZW$99,0 billion for the quarter to March 31, from ZW$45,5 billion recorded in the comparable period.