Rebosis on the defensive to ride out storm
Shopping centres and state-tenanted offices enable real estate investment trust to increase its dividend
Retail-focused real estate investment trust Rebosis Property Fund is well positioned to excel in a low-growth economy, says its chief operating officer, Andile Mazwai. Speaking on the sidelines of the function for the release of its financial results for the six months to February, Mazwai said the company had managed to build a defensive portfolio of shopping centres and state-tenanted offices that enabled it to achieve 7% dividend growth. Rebosis concluded a transaction valued at R5bn, acquiring two large regional malls — Baywest Mall in Port Elizabeth and Forest Hill in Pretoria — and internalised its asset and property-management entities. Rebosis’ retail portfolio makes up 62% of its South African assets and consists of six shopping malls. "We saw strong retail performance despite a depressed retail sales environment. "This performance was largely led by Baywest Mall, which held the highest trading-density growth at 11.6%, and Bloed Street Mall." Retail vacancies were reduced to...
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.