A Bid For Local Listed Property
At the 12th Investment Property Databank (IPD) South Africa Investment Conference at the Sandton Convention Centre, Keillen Ndlovu, head of Listed Property Fund at STANLIB, made a bid for local listed property.
He commenced by breaking South African listed property into sectors: 15% industrial, 28% offices, 53% retail, 2% hotels, 1% residential and 1% other. He pointed out that more residential exposure is coming into the listed space through funds like SA Corporate Real Estate Fund and Arrowhead Properties.
On the different sectors in the property industry, he explained that in the office sector there is a changing skyline as corporates move to new head offices. The industrial market has shifted away from tacmeds.com manufacturing to warehouses, logistics or distribution centres. In the retail market more malls will be coming up in the next few years in a market characterised by reduced consumer spending. Examples include the recently opened Forest Hill City in Pretoria West by the Billion Group and the new Waterfall Corner in Waterfal, Midrand…