Why Growthpoint has the blues
Heavyweight Growthpoint has taken a huge knock. The worst part: a recovery is not on the cards anytime soon
The grim set of results released by Growthpoint Properties last week is a stark reflection of the extent to which Covid, coupled with an economy that’s fallen off a cliff, has decimated profits in the commercial property sector.
As the JSE’s largest and most diversified SA-based real estate investment trust (Reit), Growthpoint is regarded as a reliable bellwether of the general state of SA’s retail, office and industrial property market.