Growthpoint casts net far and wide
Investments a platform into central and eastern Europe
Growthpoint, the largest South African-based property fund, is struggling to move the needle and grow, but it is trying an array of methods to do so. Growthpoint's asset base, which includes half of the V&A Waterfront in Cape Town, is worth about R120-billion on a consolidated basis. It has a market capitalisation of R71-billion. The company has invested extensively in South Africa and also in Australia, through its subsidiary Growthpoint Australia. Its latest plan is to invest in healthcare - but through an off-balance-sheet entity called Growthpoint Healthcare. Its African fund has not worked yet, due to challenges in getting money out of some countries, and analysts have been critical of its expansion into Romania's office market. MD Estienne de Klerk said he wanted Growthpoint Healthcare to be worth R10-billion in five years, after which it could be listed separately. The company, launched last week, has a R2.5-billion portfolio with two hospitals in Cape Town and two in Durban....
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.