Retail International, which has been involved in property development and management since the mid-1980s, has been relaunched under the Gensec Property Services umbrella.

Marna van der Walt, CEO of Gensec Property Services and chairman of Retail International, said last week that they had positioned Retail International as a specialist "boutique" company focused exclusively on the redevelopment,management and leasing of retail shopping centres.

Gensec Property Services acquired Retail International from former owner and CEO Vic Hiemstra a year ago.

Now Retail International has been restructured as a joint venture between Hiemstra and Gensec, each holding a 50% share.

The repositioning of Retail International follows the repositioning of Gensec Property Services through a deal that will bring management, Pam Golding Commercial and a black economic empowerment consortium in asshareholders alongside Sanlam.

Gensec Property Services manages a property portfolio of about R11bn and, following the deal with Pam Golding Commercial and the black equity consortium, the property portfolio under management will increase to about R13bn.

Business Day