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Emira Property Fund, which has a retail-dominant portfolio, says its focus on retaining tenants is paying off in a tough SA property market. However, it is coming at a cost, resulting in punitive rental reversions so far in its 2022 year.

Vacancies across the group’s SA portfolio fell to 5.5% at the end of May from 6.1% at the end of December, but average total reversions stand at -12.8%, the firm said in an update for the first 11 months of its 2022 year...

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