New CE for SA REIT Association

LISTED Dipula Income chief executive Izak Petersen has been appointed the new chairman of the SA REIT Association, which represents the domestic real estate investment trust (Reit) sector on the JSE. The association’s members comprise all locally listed Reits, which have a total market capitalisation of about R400 billion. The association plays an important role for the sector, providing advocacy in areas of common concern, representing the industry in meeting challenges within the sector and boosting awareness of Reits as a unique asset class that creates and preserves wealth. Petersen, who takes over the chairmanship from Vukile Property Fund chief executive Laurence Rapp, said the association had done great work so far and he would continue to build on this good foundation. “Reits have consistently delivered inflation-beating returns over the long term,” he said. –