Investors dump mall Reits
Already fragile sentiment towards retail brick-and-mortar investments has been dealt another blow by last week’s civil unrest
22 July 2021 - 05:00
Last week’s looting and destruction of more than 200 malls, 600 retail stores and several distribution centres not only left an estimated R20bn of property damage in its wake — billions in shareholder value were also wiped off the JSE’s property sector.
The share prices of a number of real estate investment trusts (Reits), mostly those that own shopping centres in townships and inner cities in KwaZulu-Natal (KZN) and Gauteng, fell 10%-15%, as investors bailed out of retail brick and mortar...
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