Did you know that REIZ is the only equity listed in US dollars on LuSE?

Real Estate Investment REIZ the only equity […]

Real Estate Investment REIZ the only equity listed on the Lusaka Securities Exchange LuSE in US dollar has experienced positive performance on the exchange with data from the StockBrokers Zambia for the market period ended 24, July indicating that REIZ was the lead price gainer on the exchange recording an increase of K0.18 (USD 0.01) or roughly 11.11% to closing with a price at K1.84 (USD 0.10).

The report further indicates that a total of 26.73B units were traded under the period under review for the market listed REIT Real Estate USD recording a turnover of USD 21.4 million (K394.1 million. Additionally, the price increased by 11.1% opening at USD 0.09 (K1.66) closing at USD 0.10( K1.84) per unit.

A further check by the Zambian Business Times- ZBT shows that on the market period ended 17, July, a total of 170.2 thousand units were traded for the market listed REIT Real Estate USD 15.1 thousand was recorded as the turnover with no price action recorded.

 However, according to a broker whose name remains withheld attributed REIZ positive performance due to the company’s interest in acquiring East Park Mall.

Speaking in an interview with Zambian Business Times- ZBT the broker indicated that REIZ buying already developed properties gives the company an advantage especially now that the company is currently working around buying one of Lusaka finest shopping Malls (EAST Park).

 “the nature of REIZ is that they buy already develop properties which gives them an advantage and that why you seeing the company performing positively and they are currently trying to buy East Park, because they are individuals who are interested and obviously when there is that interest you get to see a movement in terms of their price,” she added.

By Justine Phiri