Offshore property firms grow

OFFSHORE property companies have been the best performing of the real estate groups in the first six months of 2017, largely thanks to an economic recovery across Europe.

This is while various South African-based property groups have been negatively affected by a slowing local economy and political instability.

According to Stanlib, Greenbay Properties was the best performer with a total return of about 23.4%, on various acquisitions.

Greenbay’s initial plan has been to invest in listed European property funds and distressed real estate assets. CEO Stephen Delport said his team had managed to grow its portfolio opportunistically. — BDLive