Tenants in the industrial sector, particularly in manufacturing, are under enormous pressure with the ongoing electricity supply issues
Despite Growthpoint declaring a higher dividend and reporting higher net property income in its latest interim results, SA’s largest real estate investment trust expects muted growth for the rest of the year. That’s due to higher inflation, interest-rate hikes, and local and international economic uncertainty.
The net property income of the Reit, valued at R44.8bn on the JSE, improved 5.6% year on year to R4.9bn, operating profit 4.8% to R4.45bn and the distributable income per share 1.3% to 77.9c in the six months to end-December...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
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