Redefine battens down the hatches and aims to cut debt
Major SA landlord prepares for a protracted slump in the local economy and property market
26 August 2019 - 09:02
Redefine Properties, one of SA’s biggest landlords, says it plans to cut debt through asset disposals and halting acquisitions as it prepares for a protracted slump in the local economy and property market.
While the economic slide “has been halted, we should not expect the rehabilitation and recovery of the local economy to be a swift process”, the company said in a presentation to shareholders on Monday. “We can expect it to take at least as much time to fix as it took to damage.”..
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