We can't afford to pay R16m for diesel – property group bemoans the costs of load shedding | Business

  • 📰 News24
  • ⏱ Reading Time:
  • 53 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 80%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

The owner of upmarket Rosebank Bolton apartments, Emira Property Fund, says it spent R16.6 million in diesel in the six months to December 2022. | News24_Business

, says it spent R16.6 million in diesel in the six months to December 2022. Although the landlord's operations in South Africa are smaller than those of its competitors like Redefine and Growthpoint, it said everyone is reeling from the negative impact of load shedding.

"Of course, that brings additional costs to our tenants and businesses," said Emira COO Ulana van Biljon. Emira is also worried that with the elevated demand for diesel, as load shedding intensifies, its prices will climb. "Solar, together with batteries, will make sense in the longer term, but we are not there yet. Our solar interventions have been fantastic. They saved the grid. But during load shedding, we can only use generators … Batteries are being tested that look like they might be able to justify switching," said Emira CEO Geoff Jennett.A deep dive into the big business story of the week, as well as expert analysis of markets and trends.

"This is despite the fact that the office sector is still under pressure. We've said before that we believe the office sector can only really improve if we've got good economic growth. We really need that. Businesses also need to understand where the economy is going because that influences their office strategies," said Van Biljon.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

_Business Falls on deaf ears…and err…large abdomens!!!!

_Business 16 million can buy a good solar system

_Business Horrible

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Gambling Addicted Durban Woman Defrauded Companies Out Of R16 MillionA woman from Bluff in Durban was charged with fraud totalling about R16 million and sentenced to nine years imprisonment yesterday.
Source: 2oceansvibe - 🏆 43. / 51 Read more »