Pfuma REIT completes Avondale acquisition

Pfuma Real Estate Investment Trust has completed the acquisition of a 1,203-square-metre property at 36 Cork Road, Avondale, Harare, a prime commercial area located in a busy commercial district. The acquisition was settled through the issuance of 69.4 million additional units, and was effective from August 2026, with the trust now owning multiple properties in Harare, including this one. The property is fully occupied by quick-service restaurants and casual dining businesses, including well-known brands such as KFC and other fast-food chains. The deal boosts Pfuma's portfolio, and the property generates stable rental income, expanding Pfuma's retail footprint in the capital. The Financial Gazette reports that the deal increases unit dilution risk for existing holders, a concern for investors as it could reduce earnings per unit. The dilution is a result of the unit issuance, and the Financial Gazette is a reliable source for financial news.