Inner city property company Divercity Urban plans to invest R3bn in SA’s urban centres.The unlisted company, which is owned by Atterbury and Ithemba Property and has assets worth R2bn, is also eyeing a listing on the JSE in the next three to four years.Its property development pipeline includes more than 3,000 affordable residential units and office and retail space.Wouter de Vos, CEO of Atterbury Property Fund, said the fund would own R6bn in assets over the next three to four years and then list as a real estate investment trust on the JSE."By clustering investment properties in specific precincts, not only does Divercity benefit from management efficiencies, but it also enjoys better control of assets by enhancing the intrinsic value around each of its core real estate investments," De Vos said.According to De Vos, Divercity was "creating large-scale, mixed-use, mixed-income urban renewal precincts. In this way, it [the company] also creates the density and scale to have a real i...
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.