Equites Property Fund, the only industrial real estate specialist listed on the JSE, says its joint venture with Shoprite will set the company up for success over the next 20 years, even as it refrained from making future payout projections due to the Covid-19 outbreak.

The group, which grew its dividend by almost double digits in its year ended February 2020, making it the best-performing property stock in the current reporting season, says it is on track to complete a R4.1bn deal with the national retailer in the next few weeks, which will enable it to lease warehouses to Shoprite for the next two decades. Shoprite has a large network of distribution needs across SA, and Equites will develop new sites for the retailer...

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