Resilient Reit could be the first South African real estate group to invest in the US or Canada, as it seeks more growth opportunities offshore. Resilient, which is the sixth largest JSE-listed real estate investment trust (Reit) with a market capitalisation of about R47bn, has put its expansion plans in Nigeria on hold, wanting to reallocate resources from there to a different market. It already invests in Europe through holdings in various listed companies. "We have been unable to spend the money which we raised in Nigeria. The economic policies related to currency control are not conducive to investing for us. "Nigeria is on ice in our portfolio for the time being. We are looking to move our efforts elsewhere," said MD Des de Beer, speaking after the release of the companies financial results for the six months to December. Although De Beer would not be drawn on exactly which market Resilient would invest in next, he said the group already had a presence in Europe and Africa was ...
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