Telkom, which estimates that its property portfolio is worth R24bn, has identified about 40 properties it wants to develop in partnership with experienced real estate groups, says CEO Sipho Maseko. The company’s property portfolio is worth about 90% of its entire market capitalisation, given that investors valued Telkom at R26.7bn on Monday. In 2017, Telkom shifted its properties into a new subsidiary, Gyro, as part of its plans to commercialise its extensive real estate portfolio and diversify its income streams. Gyro bought about 6,500 masts and towers from Telkom and manages the group’s portfolio of 1,440 properties, including offices, client service centres, residential dwellings and land parcels. "We’ve sold most of the tail of the portfolio, and then the non-mast and tower portfolio we will look to develop and optimise," Maseko told Business Day. "We’ve identified about 40 properties that we will partner with other people to develop. Let’s say we partner with a Growthpoint or ...
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