According to the Reit, year-on-year revenue for the period was 0.5% down to R1.47bn as a result of property disposals in the last year, higher average vacancy rates and rental reversions for both renewals and new leases in the period. Moneyweb
JSE-listed Emira Property Fund continues to report negative rent reversion pressures across its retail, office and industrial segments. On Wednesday the real estate investment trust , in reporting on its performance for the full-year ended 30 June 2022, conceded that persisting negative rental reversions across most business segments continue to place it under pressure and affected its annual revenue numbers. According to the Reit, year-on-year revenue for the period was 0.5% down to R1.
Read:How property stocks have rebounded from lockdown lows Commenting further on the issue, Van Biljon says she “expects the trend of negative reversions to persist until South Africa starts to see consistent economic growth”. Office portfolio downsizing The past two years of the Covid-19 pandemic has seen a move away from the office working environment, with most employers supporting a hybrid work setup.
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