The group had to raise its provisions for bad debt and provided rental relief due to the effects of the pandemic
Growthpoint Properties' headquarters in Sandton. Picture: FINANCIAL MAIL
The group, which has a stake in the V&A Waterfront, has seen a surge in arrears and provisions, saying a decision on a final dividend for its year to end-June may be made only in December as it assesses the fallout from the pandemic. “The effects of the pandemic have been devastating, impacting all three of our domestic businesses where property fundamentals were already weak,” the group said.
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