Despite some investors’ negative perceptions about having a sovereign-underpinned landlord, Delta Property Fund said it remained focused on owning and being the best manager of state-tenanted assets in SA. The group increased its distributions 7.1% in the six months to August and sold some of its underperforming nongovernment tenanted assets. "These results are indicative of our ongoing focus on doing the basics right. During the reporting period, we successfully reduced Delta’s loan-to-value ratio to 41% from 47.2% at year-end; we settled or refinanced R832m of debt and managed to renew leases to the extent of almost 60,000m²," said CEO Sandile Nomvete.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.