PROPERTY INVESTMENT
Retail acquisitions help boost Vukile growth
Vukile Property Fund’s share price has risen nearly 19% over the past year, outperforming the FTSE-JSE South African Listed Property index (Sapy) as its high exposure to retail assets in underserved areas raised its profile among investors. The Sapy has gained 1.54% year to date and 2.29% on a price basis since June 2016. So far this year, Vukile’s share price has climbed about 6%. Vukile has become a reliable performer under CEO Laurence Rapp, who has made canny acquisitions locally and abroad. Castellana owns two call centre offices. Growth in Spain’s GDP has exceeded 3%a year over the past three years. Domestic consumption has begun to recover after a difficult seven years. Rapp has identified €200m worth of retail assets to build up Castellana. Evan Robins, listed property manager of Old Mutual Investment Group’s MacroSolutions boutique, said he "believes in the long-term story of Vukile". He said it would take a couple of years for the company to build a presence in Spain. "I t...
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.