Dipula Income Fund is a diversified, externally managed SA real estate investment trust (Reit) listed on the JSE since August 2011. The company owns a diversified portfolio of retail, office and industrial properties worth R7bn, currently weighted towards retail assets which account for 70% of rental revenue. The capital structure is split into A shares (DIA) and B-shares (DIB) with DIA entitled to receive 5% preferential growth in distributions, and DIB entitled to the residual distribution.The CEO is Izak Petersen, who co-founded the Mergence Group which eventually listed Dipula through the merger of Mergence Africa Properties and Dipula Property Fund. The financial director, Ridwaan Asmal, has over 20 years’ experience in listed property, specifically in financial reporting and management. The property management function is outsourced to Broll, Eris, Moolman Group, Hermans & Romans and McCormick.The fund has a total of 193 properties, comprising 129 retail assets, which represen...
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