https://www.engineeringnews.co.za
Business|Rental
Business|Rental
business|rental

South African Reits provide R3.5bn Covid-19 relief

19th November 2021

By: Schalk Burger

Creamer Media Senior Deputy Editor

     

Font size: - +

Real estate investment trusts (Reits) provided R3-billion in relief support to tenants between April and December 2020, with 69% of this provided between April and August 2020, industry body the South African Reit Association (SA Reit) says.

Reits issued a further R500-million in support between January and June this year, bringing the total relief comprising rental discounts and deferrals to R3.5-billion, the organisation's 'Rental Relief Report' shows.

The Reits' relief measures played a key stabilising role in the overall economy by supporting tenants, especially small, medium-sized and microenterprises, which are a critical segment of the economy.

Eighty per cent of the relief came through in the form of unrecoverable discounts intended to sustain tenants' cash flows and curb business failures, with the remaining 20% as deferrals on rental payments.

"The tremendous collective effort that our members made to enable business sustainability during the pandemic is a clear demonstration of their continuing role as a key player in the economy," says SA Reit CEO Joanne Solomon.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Aqs image
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 
Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.175 0.233s - 151pq - 2rq
Subscribe Now