Growthpoint Properties may have been a slow starter in eastern Europe but its conservative approach has paid off, with the group having built up a sizeable portfolio worth R7.7bn in the region. In an interview with Business Day, CEO Norbert Sasse said he felt Growthpoint, which is the largest property company in the country, had been vindicated with respect to the cautious approach it took as it built a presence in central and eastern Europe. This was while its rivals rushed into the region and made large investments over the past three years. Growthpoint, which has investments worth close to R120bn, has built up exposure to central and eastern Europe worth about R7.7bn in just short of 18 months. Its initial investment in Romania at the end of 2016 was criticised for being "too small". The company spent R2.7bn on 26.9% of Globalworth Real Estate Investment, which was focusing on Romanian offices at the time. "Our strategy has always been to invest with a measured approach. We went ...
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