Growthpoint Properties CEO Estienne de Klerk has been
elected chairperson of the South African Real Estate Investment Trust (SA Reit)
Association.
De Klerk is a former president of the South African
Property Owners Association (Sapoa) and he represented the industry in the
Property Sector Charter negotiations. He takes over from the association’s
immediate past chairperson, Izak
Petersen, who is CEO of Dipula Income Fund.
Describing the industry as “a distinctly unique
asset class”, De Klerk on Tuesday said Reit companies offered unique investment
propositions which satisfied income investors seeking yield, and equity capital
investors seeking a total return.
“While South African Reit [companies] are not
immune to the struggling [local] economy, they offer less volatility and their
dividends are highly predictable and reliable with the potential for good
medium- to long-term capital appreciation,” he explained.
With a growing number of Reit companies having
diversified internationally, De Klerk said these offer an investment that was
disconnected from the South African economy for those seeking this option.
Commenting on the association itself, De Klerk said
SA Reit would continue to aim to settle various unresolved issues around the
Reit tax dispensation with the National Treasury.
It will also address the many laws and regulations
introduced each year which impact on property owners, and Reit companies
specifically, in collaboration with Sapoa.
The SA Reit Association’s newly elected executive committee includes Vukile Property Fund’s Rob Hawton, Equites Property Fund’s Bram Goosens and Andrea Taverna-Turisan, as well as Hyprop Investments’ Desiree Nafteand Growthpoint’s Gerald Völker and Shawn Theunissen. https://www.engineeringnews.co.za/article/growthpoints-de-klerk-appointed-new-sa-reit-chairperson-2019-08-27/rep_id:4136
