The board of listed property loan stock company Vukile (VKE) has approved new investments totalling more than 315 million rand as part of a continuing drive to build its portfolio of quality properties.

The latest investments follow closely on the R34.4 million acquisition of the Oakhurst office building in Parktown, Johannesburg. Vukile is also in the process of an R80 million expansion and upgrade of its Phoenix Plaza and Dobsonville shopping centres.

The new investments include the acquisition of No 50, Sixth Road, Hyde Park in Sandton for 57 million rand, the company said.

Vukile will also be investing some 40 million rand in a 50% stake in the development of a new mini-warehouse complex at Allandale between Johannesburg and Pretoria.

I-Net Bridge
 
Publisher: I-Net Bridge
Source: I-Net Bridge