Vukile Property Fund to say ‘adiós Namibia’ and ‘hola Spain’
Its Spanish exposure is worth R17bn and accounts for 48% of its total assets
29 January 2020 - 19:42
JSE-listed real estate investment trust (Reit) Vukile Property Fund will sell its Namibian assets valued at nearly R1bn by the end of 2020, saying it will focus mainly on SA and Spain.
The company’s management said in a presentation to shareholders on Wednesday that it would sell noncore assets in 2020 and introduce Spanish group Castellana Properties as a shareholder. It would decrease its relative debt levels by exiting Namibia, a noncore market...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
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.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.