Cape Town’s V&A Waterfront continues to greatly benefit Growthpoint
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GUEST –
Estienne de Klerk - Growthpoint Properties SA CEO
Growthpoint Properties Limited (JSE: GRT) reported robust operational results across its local and international
investments for the six-month period ended 31 December 2023, with a stellar performance from the V&A Waterfront and its South African portfolio showing stable and steadily improving property metrics.
The solid operational performances produced by the underlying portfolios of Growthpoint’s various investments
were, however, overshadowed by higher interest rates globally, which presented significant downside given their impact on property values, equity and debt markets, and capitalisation and discount rates, affecting the financial performance of Growthpoint’s
direct and indirect investments. Growthpoint reported total property assets down 1.1% during the period to R177.9bn.
Estienne de Klerk - Growthpoint Properties SA CEO
Growthpoint Properties Limited (JSE: GRT) reported robust operational results across its local and international
investments for the six-month period ended 31 December 2023, with a stellar performance from the V&A Waterfront and its South African portfolio showing stable and steadily improving property metrics.
The solid operational performances produced by the underlying portfolios of Growthpoint’s various investments
were, however, overshadowed by higher interest rates globally, which presented significant downside given their impact on property values, equity and debt markets, and capitalisation and discount rates, affecting the financial performance of Growthpoint’s
direct and indirect investments. Growthpoint reported total property assets down 1.1% during the period to R177.9bn.
