GROWTHPOINT CHIEF LANDS SA REIT ASSOCIATION POST

ESTIENNE de Klerk, the chief executive of Growthpoint Properties, has been elected chairperson of the SA Reit Association, which represents the South African listed Reit (real estate investment trust) sector, a statement said yesterday. SA Reit members comprise the listed SA Reits

– a sector with a market capitalisation of more than R300 billion. De Klerk was a past president of the SA Property Owners Association and represented the industry in the Property Sector Charter negotiations. He is a long-standing member of the SA Reit Association, having served on its Exco and as chairperson of its Taxation and Regulatory committee since inception. Reits are not immune to the struggling economy, but offer less volatility and their dividends are highly predictable and reliable with the potential for good medium- to long-term capital appreciation. Estienne takes over from the association’s immediate past chairperson, Izak Petersen, who is chief executive of Dipula Income Fund.