Offshore businesses reward Redefine Properties
Company has been investing in Poland since 2016 and its investments in the fast-growing east European country are paying off
Redefine Properties’ decision to enter the Polish market three years ago is paying off with the investments contributing almost a quarter of the group’s dividend growth for the six months to February. Poland had become Redefine’s key offshore markets. Konig said Poland’s consistent economic growth over the past decade had largely been driven by consumer spending which supported subsidiary EPP NV’s shopping centres. Redefine owns 44.4% in EPP. The group’s Polish investments achieved 14.6% dividend growth and contributed 23% of the total group interim dividend growth of 4%.
Redefine, which is the third largest real estate firm on the JSE, spent R1.5bn in Eastern Europe’s largest economy during the first half to February, but spent slightly less in SA. CEO Andrew Konig said the company was not on an investment strike in SA, but that many of the players it would have done business with locally were waiting for the outcome of the country’s national elections. “Leasing is a l...
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.