| dc.description.abstract | The purpose of the study was to explore and seek an understanding of the underlying factors
leading to performance in the real estate sector remaining resilient in the midst of a global crisis
when the global trend indicated negative growth in terms of rental income, collection and
occupancy rate. The research adopted the phenomenologist and interpretivist research
philosophy, and exploratory and descriptive research design, as such made use of a qualitative
approach and a case study research strategy to get an in-depth understanding about the problem
and therefore focused on real estate companies listed on the Zimbabwe Stock Exchange. The
study established that during the COVID-19 outbreak the Zimbabwe commercial real estate
sector registered a positive net effect in the retail, office, industrial and health sector in terms
of rental income, collection and occupancy rate. Portfolio structure, demand and supply
fundamentals, internal processes and systems, period of the lockdown, type of business, and
category of the sector into essential and non-essential were among the factors that contributed
to the resilient performance experienced in the commercial real estate sector. Portfolios that
were diversified did not experience dire consequences as one asset class offset the exposure of
another. The study puts forward the notion that the effects of crises can be uneven and vary
from one sector to another and also from one country to another. These differential effects can
in some instances result in a positive net effect on performance of economic sectors. The study
recommends that government implement policies that would support sustained growth of the
sector and assist the sectors that have been severely affected by the pandemic. These include
tax deferrals to the sector during Level 5 lockdown and tax reliefs or holidays for adversely
affected sectors such as the hotel industry. | en_ZW |
