Blue-chip shopping centre owner Hyprop Investments’ shares slumped 11.7%, its biggest drop since December 2015, after the real estate investment trust (Reit) warned that distributable income for the 2020 financial year could decline as much as 13%.

Hyprop, the owner of The Mall of Rosebank, the Glen, Hyde Park Corner and Canal Walk, attributed the expected fall in income to underperformance of the South African and East European property portfolios as well as reduced rent from the Edcon Group...

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