Real Estate Investor Magazine South Africa Real Estate Investor Magazine March 2018 | Page 42

LISTED
Making sense of REITs
A
South African REIT is a listed property investment vehicle that is similar to internationally
recognised REIT structures from around the world. Listed Company REITs or Trust REITs
are publicly traded on the JSE REIT board and qualify for the REIT tax dispensation.
Vukile Property Fund
Vukile is a retail REIT, which
listed on the JSE Ltd. on 24
June 2004 and on the Namib-
ian Stock Exchange on 11 July
2007. On 1 April 2013, Vukile
became the first property com-
pany to be awarded REIT status
by the JSE Ltd. The group holds
assets in South Africa, Spain,
and the UK.
Results Six months ended 30
September 2017
Who Manages the Fund Vukile Property Fund Market Capitalisation 16,236,816,133
Number of Direct Properties in Fund 47 Gearing (%) 29
Direct Asset Value R14.2bn Head of Fund and Title Laurence Rapp
Total Asset Value R20.4bn
Grit
40
Grit is a pan-African property
income fund focusing on Afri-
can real estate assets (excluding
South Africa), underpinned by
predominantly US Dollar and
Euro-denominated medium to
long-term leases with high qual-
ity global graded tenants. The
Company holds dual primary
listings on the Main Board of
the Johannesburg Stock Ex-
change (“JSE”) since July 2014
and on the Stock Exchange of
Mauritius Ltd (“SEM”) since March 2015. Total Asset Value $ 592,446,601
Results Six months ended 31 December 2017 Market Capitalisation 3,294,525,324
Who Manages the Fund Grit Real estate income group Gearing (%) 49,19
Number of Properties in Fund 20 Head of Fund and Title Bronwyn Corbett
MARCH 2018 SA Real Estate Investor Magazine