Listed property has bounced back strongly this year and is among the JSE’s best performing sectors. But the renewed lockdown level 4 restrictions, and the riots and looting at malls — thankfully, somewhat isolated at this stage — has raised concern. Is a reckoning in retail REITland coming? Before the pandemic, the excessive focus on income without regard to the sustainability of that income or the risks taken to generate is precisely what got the sector into trouble.

Shareholders are complicit in this mess. They, too, must take responsibility for approving the hiring of boards and management teams to do what they do. What are the lessons in all of this and what is the outlook for the listed property sector into the second half?

Malcolm Horne, CEO of Broll Property Group; Madalet Sessions, co-manager of Denker Capital’s SCI Balanced and Stable funds with Jan Meintjes; and Andrew Brooking, corporate finance executive and founding director of Java Capital which specialises in property M&A, join Michael Avery to discuss the reasons for REITs performing so badly during the pandemic.

Michael Avery and panel of experts unpack the REIT recovery and whether it's too good to be true

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