Kagiso, NIB jump into dry property sector.

Posted On Thursday, 28 November 2002 10:01 Published by eProp Commercial Property News
Rate this item
(0 votes)

 

NEDCOR Investment Bank (NIB) and Kagiso Property Holdings have put together a R636m property fund called the Resilient Property Income Fund to be listed on the JSE Securities Exchange SA (JSE) next Friday.

 

NedcorThe move may signal the end of a listings drought in the JSE's property sector since interest rates began rising early this year.

The sector saw its last listing when iFour debuted in June. The rise in interest rates saw many property listing plans frozen for fear of taking a capital knock in the light of increased listed property yields.

Resilient will list with an issue price of 500c a linked unit, with a forecast yield of 16%. A total of 72,1-million linked units will float on the JSE.

Resilient's portfolio is biased towards the retail and industrial sector.

A limited exposure to the office sector has been consciously created in light of pressure facing the office property market.

The property fund also has a bias towards less popular areas, such as major retail centres in areas like Rustenburg, Secunda, Klerksdorp and Polokwane.

'These areas have not experienced the over- development seen in some metropolitan areas and offer greater stability and lower risk,' Resilient's management says.

Last modified on Monday, 28 April 2014 09:29

Most Popular

Should you rent or buy your business premises?

Jun 23, 2022
Malusi Mthuli_FNB
This is a question that most business owners will face at some point in their journey.…

April 2022 Hotel Accommodation Income Statistics continue to show a very weak picture compared to pre-lockdown times.

Jun 23, 2022
Hotels Monthly Income 2022
The StatsSA release of April 2022 preliminary monthly tourism statistics show the Hotel…

South Africa’s inflation exceptionalism: can it last?

Jun 23, 2022
Carmen Nel
South Africa is often seen as a high-beta play, be it regarding financial market risk…

Hyprop continues to reduce debt and reposition its portfolios in SA and EE

Jun 30, 2022
Skopje City Mall Playground
Hyprop, which manages dominant retail centres in mixed-use precincts in key economic…

Vaal Mall rolls up its sleeves for pothole repairs

Jun 30, 2022
Vaal Mall crew busy repairing the various potholes making easier access to the Centre.
Vaal Mall is showing their commitment towards their community by stepping up to repair…

Please publish modules in offcanvas position.