Resilient, the shopping mall owner at the centre of 2018’s property scandal that saw the listed real estate sector lose more than R120bn in value, says the biggest threat to its portfolio for the next year is social unrest and a weak economy.

“Social unrest and protests could result in security concerns at Resilient’s properties, as well as damage to property. The economic conditions could result in a reduction in demand for space, increased cost of doing business, the potential of tenant defaults and reduced distributions,” said chair Alan OIivier, in the group’s annual report.

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