Andrew Konig, president-elect of the South African Property Owners Association (Sapoa) and CEO of SA’s second-largest listed property group, Redefine Properties, believes that to restore credibility property groups will need to be cautious and realistic in the toughest economic environment in SA in decades.

Redefine, which has a portfolio of investments worth more than R95bn, is under pressure in a weak environment, like many of its peers. It is difficult to raise rents when some tenants battle to meet existing contracts. As a result, it is cleaning up its balance sheet and has put R8bn worth of properties, or 8.4% of its asset base, up for sale.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now