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...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.