Jun 15, 2012
Dipula outlines R330m retail investment planBack
Blouberg Plaza|Bochum|Dipula Income Fund|Nquthu Plaza|Randfontein Station|The Plaza|Izak Petersen
© Reuse this
CEO Izak Petersen says: “The acquisitions will further our aim to increase Dipula’s retail portfolio exposure to low-income households. These strategic acquisitions improve the quality and average size of properties in the portfolio. It will also improve the geographic spread of our portfolio.”
The investment comprises R179.5-million for the 25 700 m2 The Plaza shopping centre, in Phuthaditjhaba, in the Free State; R46.2-million for the 6 000 m2 Randfontein Station shopping centre, in Gauteng; and R104.2-million for the 14 700 m2 Bushbuckridge shopping centre, in Mpumalanga.
The acquisitions continue Dipula’s focus on portfolio growth. This is its second significant transaction since listing in August 2011. Dipula also recently bought Bochum, Blouberg Plaza and Nquthu Plaza for R250-million.
The new assets will grow Dipula’s portfolio to 181 sectorally and geographically diverse properties, valued at about R2.7-billion. The fund’s total size will now comprise 512 000 m2 of gross leasable area following the two acquisitions, with retail property being almost 57% of that.
The three shopping centres will be acquired using a minimum of 30% debt funding, with the balance being equity-funded. The transaction is still subject to various conditions, including Competition Commission approval.
Dipula is finalising the acquisition’s financial effects and, until this is announced, it has advised Dipula-linked unitholders to exercise caution when dealing in its linked units.
Edited by: Martin Zhuwakinyu© Reuse this Comment Guidelines (150 word limit)
Other Construction News
Updated 39 minutes ago The mandate of local government has expanded greatly over the last ten years, and now includes more comprehensive operational responsibilities, as well as new ones, such as air quality management, says KPMG South Africa City Centre of Excellence associate director...
Updated 38 minutes ago The mandate of local government has expanded greatly over the last ten years, and now includes more comprehensive operational responsibilities, as well as new ones, such as air quality management, says KPMG South Africa City Centre of Excellence associate director...
Updated 46 minutes ago National Planning Commission (NPC) commissioner Tasneem Essop has highlighted a growing global movement against the continued use of coal as a source of energy, telling a panel discussion on Monday that South Africa’s coal-fired power station build programme and...
Updated 1 hour 8 minutes ago Eskom said on Tuesday there is a low risk of load shedding as the power system is currently relatively stable. "Some of the generating units that experienced technical faults yesterday (Monday) are now back on stream, helping to stabilise the power system," the power...
Recent Research Reports
Steel 2015: A review of South Africa's steel sector (PDF Report)
Creamer Media’s Steel 2015 report provides an overview of the key developments in the global steel industry and particularly of South Africa’s steel sector over the past year, including details of production and consumption, as well as the country's primary carbon...
Projects in Progress 2015 - First Edition (PDF Report)
In fact, this edition of Creamer Media’s Projects in Progress 2015 supplement tracks developments taking place under the Renewable Energy Independent Power Producer Procurement Programme, which has had four bidding rounds. It appears to remain a shining light on the...
Electricity 2015: A review of South Africa's electricity sector (PDF Report)
Creamer Media’s Electricity 2015 report provides an overview of State-owned power utility Eskom and independent power producers, as well as electricity planning, transmission, distribution and the theft thereof, besides other issues.
Construction 2015: A review of South Africa’s construction sector (PDF Report)
Creamer Media’s Construction 2015 Report examines South Africa’s construction industry over the past 12 months. The report provides insight into the business environment; the key participants in the sector; local construction demand; geographic diversification;...
Liquid Fuels 2014 - A review of South Africa's Liquid Fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2014 Report examines these issues, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing, competition in the sector, the...
Water 2014: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2014 report considers the aforementioned issues, not only in the South African context, but also in the African and global context, and examines the issues of water and sanitation, water quality and the demand for water, among others.
This Week's Magazine
While economic forecasts for the African continent are most favourable, African airlines may not be able to benefit from the expected growth in the region’s gross domestic product (GDP), International Air Transport Association VP: Africa Raphael Kuuchi has warned....
The Automotive Production and Development Programme (APDP) will need to change substantially post 2020, says Metair Investments South African operations COO Ken Lello. “We must not make tweaks. We have to change. What we are doing is not sustainable.”
Banking group Absa’s forecast is for the rand to end the year at around R13 against the dollar, weakening further to R13.50 by 2016, says Absa sectoral analyst Jacques du Toit. He warns that possible interest rate hikes in the US may see capital being pulled from...
The Dispute Resolution Centre at the Bargaining Council for the Civil Engineering Industry (BCCEI) is now open to handle party-to-party disputes. The BCCEI represents the interests of all level four to nine Construction Industry Development Board companies.
Communications technology firm Ericsson sub-Saharan Africa head Fredrik Jejdling says the company’s commitment to sustainability and corporate responsibility has been integrated into all facets of its operations, which has provided it with sustainable revenue...