South Africa’s real estate investment trusts (Reits) have achieved impressive records in driving transformation and best practice aligned with the Property Sector Charter, says industry organisation SA Reit Association.
Five Reits – Arrowhead Properties, Redefine Properties, Growthpoint Properties, Equites Property Fund and Rebosis Property Fund – have been named among the top ten empowerment companies in this year’s Empowerment Report.
According to the scorecards for the report, published by Intellidex, Arrowhead achieved 80.27% (and a total black economic empowerment score of 68.23), Redefine 78.52% (91.87), Growthpoint 78.26% (91.26), Equites 70.98% (83.05) and Rebosis 57.08% (66.78).
SA Reit chairperson Estienne de Klerk says having five Reits among the most empowered companies from across all sectors of the South African economy proves that the Reit sector is playing an important role in economic transformation.
“The SA Reit sector is doing very well in several areas of transformation and this can be seen especially in the scorecards of those Reits that are leading the drive to transform.
“That said, there are opportunities for the sector to do more and we remain committed to furthering the transformation of South Africa, within SA Reits specifically and the property sector in general,” notes SA Reit Property Sector Charter committee chairperson Shawn Theunissen.