The property sector has faced headwinds and uncertainty, caused by COVID-19. However, Growthpoint has decided to go ahead with a final dividend of 40c per share for the year to ended June. This is to meet requirements to retain its status as a Real Estate Investment Trust. The total dividend for the year will amount to 146 cents per share. And shareholders will be entitled to re-invest the net cash dividend, in return for Growthpoint shares. Growthpoint CEO, Estienne de Klerk joins CNBC Africa for more.
Growthpoint’s headline earnings have sunk by 49.4 per cent, as COVID-19 leaves havoc on its trail. All three of the company’s domestic businesses were impacted by the wreckage. South Africa’s largest property group has deferred a decision on a final dividend to later this year. Growthpoint CEO, Norbert Sasse joins CNBC Africa for more.
Retail, office and industrial tenants have been knocking on their landlord’s doors asking for rental discounts to weather the economic downturn of Covid-19. Landlords themselves have been asking for relief from their banks to protect their financial walls from the wrath of the pandemic. For more insight on the business of property in a Covid-19 world, CNBC Africa spoke with Norbet Sasse, CEO of SA’s largest landlord, Growthpoint Properties.
Office vacancies for South Africa’s largest property group, Growthpoint has increased due to the country's weak economic standing. Growthpoint, whose distribution per share grew 0.2 per cent to 106c in its half-year to end- December, is now looking to venture offshore. Growthpoint CEO, Norbert Sasse joins CNBC Africa for more.
South Africa's largest listed real estate company, Growthpoint has signed one of the biggest merger and acquisitions deals yet with a R2.9 billion takeover of U.K based Capital and Regional. Growthpoint Group CEO, Norbert Sasse joins CNBC Africa for more.
Norbert Sasse, the CEO of Growthpoint reveals the impact of Eskom’s load-shedding on SA’s largest property company.
The United Kingdom and the European Union have reached a draft Brexit deal in the eleventh hour of talks. This has happened on a day when South Africa’s largest listed real estate company Growthpoint is offering UK shopping centre owner Capital and Regional shareholders a premium of 100 per cent for their shares as they hope to have a controlling stake in the company. Joining CNBC Africa for more is Norbert Sasse, Group CEO of Growthpoint.
Growthpoint South Africa’s largest listed real estate company had 5.3 per cent increase in its full-year distributable income to the end of June. But the company could find 2020 tougher as their tenants become harder to please. The property company also revealed it has entered into talks with Capital & Regional. Joining CNBC Africa is Growthpoint SA CEO, Estienne de Klerk.
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