UK real estate company Atlantic Leaf Properties wants to join SA’s premier property index in the next two years so it can attract institutional investors and increase the liquidity of its shares. CEO Paul Leaf-Wright said the company, which released results for the year to February on Tuesday, stood out among its British peers because its property portfolio had lost only 2% its value in the 2019 financial year while others, such as Intu Properties and Capital & Counties, had seen double-digit devaluations. Intu’s asset portfolio fell 13.3% in value last year while Capital & Counties’ Earl’s Court housing development’s value fell 23% from £800m to £650m in the same period. Leaf-Wright said Atlantic Leaf’s operational performance in the year to February had been strong but the company had struggled to raise capital because investor sentiment is subdued. It wants to join the FTSE/JSE SA Listed Property Index (Sapy) in the next two years so that large investors will inject liquidity. ...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now