Growthpoint warns of little to no growth from SA properties

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The real estate investment trust says it will have to rely on its international properties for growth due to deteriorating conditions in the local property sector

Growthpoint Properties’ headquarters in Sandton. Picture: FINANCIAL MAIL

SA’s property fundamentals “remain weak and are worsening”, which means the local portfolio would probably produce “little to no growth”. Dividend withholding taxes relating to that investment would be lower this financial year, and the group had taken advantage of exchange rate weakness “with favourable hedge rates”.

 

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