Under Group CEO Norbert Sasse’s leadership, Growthpoint Properties’ portfolio has grown from R120m to R127.7bn. Now Sasse will focus on accelerating the REIT’s offshore strategy.
When Norbert Sasse was approached to run Growthpoint Properties shortly after 2001, he did not jump at the offer.
“Property as an asset class before 2001 was a swear word,” he explains. But a vision that property would have its time in the sun propelled him into the property space.
It was a leap of faith that paid off. Today Norbert Sasse, Group CEO of Growthpoint Properties, heads up South Africa’s largest, and most liquid, listed property company.
Under his leadership, the property portfolio has grown from R120m to R127.7bn, and its market cap from R30m to about R80bn (see sidebar).
Internationalisation strategy
The South African portfolio is still the largest chunk of business, comprising about 70% of total property assets, and contributing 73.4% to earnings before interest and tax (ebit).
Five years back Growthpoint could only boast of a South African portfolio. In total, the real estate investment trust’s (REIT’s) portfolio now comprises 559 property assets, 463 of them in South Africa.
It also owns 56 properties in Australia through its investment in ASX-listed Growthpoint Properties Australia (GOZ) and 39 properties in Romania and Poland, via investment in LSE AIM-listed Globalworth Investments (GWI).
Growthpoint, though, is focused on growing that international footprint. Over the next three years it aims to increase its offshore exposure from the current 24% to 30% and also push offshore income – currently 19.6% – to that same number. That will require an additional investment of R10bn centred around increasing exposure in Australia and Central Eastern Europe (CEE).
この記事は Finweek English の 2 August 2018 版に掲載されています。
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この記事は Finweek English の 2 August 2018 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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