New CE for SA REIT As­so­ci­a­tion

The Star Early Edition - - COMPANIES - Roy Cokayne

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. –

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.