Growthpoint, SA’s largest property company, will invest about R1.2bn in student housing by 2026, as it counts on rising demand from the sector to partly offset a slump in other areas.
“I think what’s important to understand is that it’s a lack of institutional-type of accommodation,” said George Muchanya, head of the company’s Growthpoint Investment Partners unit. The effect was felt more in SA as hours of power blackouts every day forced Reits to funnel billions of rand into generators to keep the lights on.
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