Zimbabwe: ZPI Operating Profit Declines

Zimre Property Investments' operating profit for the five months to May 2017 nearly halved to $468 000 compared to $819 000 achieved during the same period last year.Managing director Mr Edson Muvingi attributed the decline to rental reductions and an increase in voids; a trend that began in 2013.

ZPI's average void rate per annum has increased to 26 percent in 2017 from 12 percent in 2013 as tenants either seek cheaper options or wind up their operations.

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