REVITUS Real Estate Investment Trust (REIT) says its profit for the nine months to September 30, 2024 was 46 percent above budget on the back of improved earnings on the properties and optimised cost control measures.
This is despite a subdued occupancy ratio of 41 percent due to evacuations at its flagship property Chester House in Harare which is undergoing maintenance.
“Real estate remains a preferred hedge against potential loss of value in the wake of continued macroeconomic instabilities,” said Revitus.