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Shopping around for European property development stocks
European property development stocks are a bit of a mixed bag. Though many face uncertainty, some are making a better go of it than others…
BUY: Hammerson plc Share price: R89.87 JSE code: HMN Hammerson plc is much better positioned than many of its competitors to stave off Brexit uncertainty. The European shopping centre owner, which operates out of London, has spent recent months diversifying out of the UK to shield itself from the effects of the Brexit process and other risks in the UK, says the company’s CEO, David Atkins. The group is benefiting in particular from its assets in Ireland and outlet centres in Spain. Recent figures from Ireland’s Central Statistics Office show that the country’s economy grew 7.2% last year, outperforming the rest of the EU. Spain regularly features among the countries most visited by tourists, and many smaller shopping centres positioned at the coast perform well as a result of the tourist trade. Hammerson should maintain healthy dividend growth for a number of years. The group is primed to succeed over the next year. It owns very attractive shopping centres, and it managed to stave o...
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