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.
...
AllAfrica Subscription Content
You must be an allAfrica.com subscriber for full access to certain content.
You have selected an article from the AllAfrica archive, which requires a subscription. You can subscribe by visiting our subscription page. Or for more information about becoming a subscriber, you can read our subscription and contribution overview.
For information about our premium subscription services:
You can also freely access - without a subscription - hundreds of today's top Africa stories and thousands of recent news articles from our home page »
Already a subscriber? Sign in for full access to article