The South African Real Estate Investment Trust (SA Reit) Association has appointed Dipula Income Fund CEO Izak Petersen as its chairperson.
He has extensive experience in the financial services environment spanning investment banking, asset management and property.
With over R400-billion in market capatilisation among its members, the association provides advocacy in areas of common concern, preparing opinion and policy for interacting with stakeholders, representing the industry in meeting challenges within the sector and boosting awareness of Reits as a unique asset class that creates and preserves wealth.
“Reits have consistently delivered inflation-beating returns over the long term, with quality income streams and lower risk. Over time, they have outperformed physical property by a long shot and outclassed other sectors on the JSE,” said Petersen, adding that Reits offered investors regular income distributions, as well as long-term capital appreciation.
Petersen added that local Reits have an important role to play in property ownership in South Africa. “Owning Sandton City or the V&A Waterfront may be out of reach, but you can own a piece of the pie by investing in a Reit. It is a very accessible investment underpinned by physical property assets,” he noted.
Petersen succeeds Vukile Property Fund CEO Laurence Rapp as chairperson. “We thank Rapp for his meaningful contribution to the SA Reit Association over the past three years. The sector has advanced significantly under his leadership,” said Petersen.