BUSINESS DAY TV: Retail most resilient asset class in SA’s property environment
Laurence Rapp, CEO of Vukile Property Fund, talks through full-year results, with distribution growth for the year to March growing by 7.1%
BUSINESS DAY TV: Vukile Property Fund has delivered 7.1% full-year distribution growth for the year to March and says its results reflect the continued good metrics in its retail property portfolio, its sharp strategic delivery, strong balance sheet, deal-making dexterity and a solid platform for further international expansion. CEO Laurence Rapp joins us in the studio now. Laurence, so those are all the right things to be saying and I’m sure what every investor wants to hear in the current environment, but right at the top — to what extent does that retail property exposure that you have right now, start to bring some risk into the sustainability of earnings like the ones you are boasting [of] at this stage? LAURENCE RAPP: It’s a very important question. We made a call in Vukile about five years ago that we wanted to focus on the retail sector and that was driven by the overall fundamentals of, not only the retail sector, but also what we saw in the other sectors of office and indu...
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