Growthpoint Properties CEO Estienne de Klerk has been elected chairperson of the South African Real Estate Investment Trust (SA Reit) Association.
De Klerk is a former president of the South African Property Owners Association (Sapoa) and he represented the industry in the Property Sector Charter negotiations. He takes over from the association’s immediate past chairperson, Izak Petersen, who is CEO of Dipula Income Fund.
Describing the industry as “a distinctly unique asset class”, De Klerk on Tuesday said Reit companies offered unique investment propositions which satisfied income investors seeking yield, and equity capital investors seeking a total return.
“While South African Reit [companies] are not immune to the struggling [local] economy, they offer less volatility and their dividends are highly predictable and reliable with the potential for good medium- to long-term capital appreciation,” he explained.
With a growing number of Reit companies having diversified internationally, De Klerk said these offer an investment that was disconnected from the South African economy for those seeking this option.
Commenting on the association itself, De Klerk said SA Reit would continue to aim to settle various unresolved issues around the Reit tax dispensation with the National Treasury.
It will also address the many laws and regulations introduced each year which impact on property owners, and Reit companies specifically, in collaboration with Sapoa.
The SA Reit Association’s newly elected executive committee includes Vukile Property Fund’s Rob Hawton, Equites Property Fund’s Bram Goosens and Andrea Taverna-Turisan, as well as Hyprop Investments’ Desiree Nafte and Growthpoint’s Gerald Völker and Shawn Theunissen.