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Octodec Investments management says resilient assets are driving its recovery

May 14 2024 10:23 JSE-listed Octodec Investments, which owns residential and retail space primarily in the CBDs of Johannesburg and Pretoria, has reported a 6.4% decline in distributable earnings per share in its interim results for the six months to end-February 2024, blaming higher municipal costs and a tougher operating environment. This meant that Octodec’s […]

Redefine Properties acquires stake in Pan Africa Shopping Centre in Alexandra, Gauteng

May 13 2024 20:15 JSE listed Redefine Properties has concluded its acquisition of a holding in the Pan Africa Shopping Centre in Alexandra. Andrew König, Chief Executive Officer of Redefine, said the addition of the centre to the company’s portfolio demonstrated confidence in South Africa’s retail property sector. “As Pan Africa and other recent acquisitions […]

Attacq acquires the rest of Mall of Africa in billion rand deal

May 7 2024 17:00 JSE real estate investment trust (Reit), Attacq has reached an agreement to acquire the remaining 20% share of Mall of Africa for R1.07bn at a yield of 8%. At 131 000m2, this is the largest mall built in one phase in South Africa. The independent external market valuation is higher though, […]

Flanagan & Gerard and Vukile take ownership of BT Ngebs City

April 24 2024 19:30 The shopping centre, BT Ngebs City in Mthatha, Eastern Cape, has transferred from Billion Group to the hands of retail specialist co-owners, Flanagan & Gerard Property Group and Vukile Property Fund (JSE: VKE). The R800m priced acquisition began in 2022 and has now been finalised, with each owner holding an equal […]

Ster-Kinekor to shed stores and staff

April 19 2024 15:10 Ster-Kinekor which is the oldest and largest movie exhibitor in South Africa is feeling more pain two years after private equity groups UK-based Blantyre Capital and Greenpoint Capital acquired the group with a R250m financing facility. The cinema operator which became Ster-Kinekor in 1970, following a merger, was in business rescue […]

Retail experience hub operator Attacq excels in November and December 2023

April 19 2024 17:25 Attacq, the leading real estate investment trust (Reit), which is the majority owner of Mall of Africa, was a shining light over the last two months of 2023, with the group’s “retail experience hubs” achieving stellar numbers. The group saw its performance metrics improve throughout 2023 and its retail experience hubs […]

Vukile secures R1.1bn in green and sustainability-linked funding with Absa

April 18 2024 22:20 Vukile Property Fund (JSE: VKE), the specialist retail real estate investment trust (Reit) secured R1.1bn of funding through an innovative green loan and sustainability-linked loan with Absa. The loans are part of the refinancing process of existing debt and will be specifically directed to Vukile’s solar PV project and linked to its sustainability […]