Zimre Property Investments Limited (ZPI.zw) 2018 Annual Report

We have extracted below the Chairman’s Statement from the 2018 annual report of Zimre Property Investments Limited (ZIMRE.zw), listed on the Zimbabwe Stock Exchange:

OPERATING ENVIRONMENT

The year under review was characterised by liquidity challenges and foreign currency shortages. There was also a sharp increase in inflation which ended the year at 42.09% from 2.98% in February 2018. The property sector experienced multiple challenges during the year, amongst which were rising voids due to weak demand. Tenants continued to reduce occupied space in order to man