REITs and Share Prices
Real Estate Investment Trusts (REITs) in South Africa play a vital role in the economy by offering investors access to income-generating real estate assets without direct property ownership. Listed on the Johannesburg Stock Exchange (JSE), REITs provide a diverse portfolio of properties, including retail, commercial, industrial, and residential sectors. They enable individuals and institutions to benefit from rental income and long-term capital growth while maintaining liquidity. By adhering to strict regulations, including distributing the majority of taxable income as dividends, REITs promote transparency and stability. Their importance lies in driving economic development, creating jobs, and offering investors consistent returns.
Growthpoint Properties
Growthpoint is South Africa’s largest REIT with a market capitalisation of nearly R53 billion and over 500 property assets. The company has operated as a REIT since 2013 and owns in excess of R153 billion worth of property in South Africa, the UK, Poland, Romania and Australia. They are also the 38th largest company in the FTSE/JSE Top 40 Index with their biggest shareholder as the PIC (Public Investment Corporation). They were the first South African listed property company to be included on the JSE ALSI 40 Index.
Redefine Properties
Redefine is a South African REIT with assets currently valued at R72 billion. Their portfolio is predominantly comprised of retail, office and industrial properties held in SA and Poland. Redefine’s local assets are valued at R60 billion and their foreign assets at R12 billion. In 2021 they achieved the largest bulk Green Star existing building performance certification for 40 buildings.
Equites Property Fund
Equites listed on the JSE as a REIT in 2014 with a property value of R1 billion. Their portfolio is currently valued at just over R21 billion. Their prime focus is on acquiring and developing A-grade logistics assets let to blue chip tenants on long term leases in both South Africa and the UK. Their South African portfolio is valued at R13.2 billion with 54 income producing properties and their UK portfolio is valued at R8 billion with 10 income producing properties.
SA Corporate Real Estate Fund
SA Corp is one of the oldest property holding companies in South Africa, initially established as Ukhozi, a property unit trust in 1995. The trust later went on to register on the JSE as a REIT and currently owns 165 industrial, commercial, retail and residential properties located predominantly in South Africa with a small exposure to Zambia. Their portfolio is currently valued at just over R16 billion.
Attacq
Attacq is a South African based REIT listed on the JSE in 2013 with over R17 billion assets in fixed property in South Africa, including Waterfall City which comprises retail, residential, commercial, and logistics developments. The balance of its assets comprise other real estate in South Africa and its investment in MAS Real Estate Inc. who specialise in the development, owning and management of real estate assets in Central and Eastern Europe, primarily in Romania, Bulgaria and Poland.
Burstone Group ( Previously Investec Property Fund)
Investec Property Fund reached REIT status in October 2013 and holds just over R22 billion in real estate assets. The fund currently owns 90 properties, 70% of which are located locally and the balance in Europe. The fund currently has a market capitalisation of R9.9 billion. The fund is owned and managed by Investec Property (Pty) Ltd.
Emira Property Fund
Emira listed on the JSE in November 2003 and converted to a RIT in 2015 with real estate assets including office, retail and industrial as well as residential. The fund currently owns 78 properties with a value of nearly R10 billion and a market capitalisation of just over R10 billion.
Vukile Property Fund
Vukile is a specialist retail real estate investment trust (REIT) with a geographically diversified portfolio of property assets valued at R40 billion, of which 59% is based in Spain.
Texton Property Fund
Texton Property Fund Limited (TEX) is a Real Estate Investment Trust established in 2006, with a diversified portfolio of commercial properties in South Africa and the UK. Listed on the Johannesburg Stock Exchange (JSE) since 2011, the fund focuses on industrial, retail, and office properties, investing in income-producing assets with potential for capital growth.
Spear REIT Limited
Spear REIT Limited was listed on the AltX of the Johannesburg Stock Exchange (JSE) on 11 November 2016 and moved to the JSE Main Board on 22 May 2017. The company invests in high-quality, income-generating real estate across all sectors, primarily in the Western Cape, focusing on the Cape Town region. Its property and asset management are internally managed by the Spear executive team, operating through its subsidiaries as a group.
Resilient REIT
Resilient is a retail-focused Real Estate Investment Trust (REIT) listed on the JSE since 6 December 2002. It invests in dominant retail centers with at least three anchor tenants, primarily leasing to national retailers. The company specializes in developing new shopping centers and reconfiguring existing ones to meet market demands. Resilient’s portfolio includes 27 retail centers in South Africa (1,153,267m² GLA), three in Nigeria (29,726m² GLA), and four in France (147,383m² GLA), along with some land holdings.
HYPROP Investments
Hyprop is a retail-focused REIT with a R40 billion portfolio of mixed-use precincts centered on dominant retail centers in key economic areas of South Africa and Eastern Europe. The company emphasizes sustainable business practices, meaningful social impact, and strong governance to deliver long-term value for stakeholders.