Ncube scraps REIT limits

FINANCE minister Mthuli Ncube has scrapped a limit to the types of property that can be listed under the real estate investment trust (REIT), amid revelations that collective investment schemes under management are now worth $55,6 billion.

Last week in the 2023 National Budget, Ncube announced that the types of investments to be allowed under REITs were shopping malls, halls of residence for tertiary institutions and hotels.

However, statistics from the Securities and Exchange Commission of Zimbabwe (SecZim) show that after the listing of five collective investment schemes this year, the value of the assets under management reached $55,6 billion.

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