Vukile sells R700m worth of assets to Mbako
Vukile, which has R35bn worth of assets, is selling its non-retail properties to the black women-owned fund
Vukile Property Fund is selling all its non-retail assets to one of the country’s first black women-owned and managed real estate company, Mbako, as it opts to become a specialised company focusing on shopping centres.
Specialised property groups in SA have tended to outperform their diversified peers as management teams can give their full attention to running only one type of property and the attendant issues that come with that. SA- and Spain-focused Vukile has invested in shopping centres that serve middle to lower living standards measurement study (LSMs), which have been more defensive than larger, super-regional shopping centres — those bigger than 74,000m2 — in SA’s slow growth economy...
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