Redefine CEO Andrew König says EPP contributed R272m to distributable income as it resumed paying dividends
The total distributable income of diversified landlord Redefine Properties grew in its latest interim results as it consolidated its stake in one of Poland’s largest owners of retail space EPP.
According to Redefine CEO Andrew König, EPP contributed R272m to distributable income as it resumed paying dividends. Apart from the investment in EPP, Redefine expanded into Poland’s self-storage sector earlier this year by taking a 51% interest in storage and warehousing firm Stokado. The acquisition is expected to be implemented before the end of May.
But the bulk of Redefine properties remain in SA, with the local portfolio — comprising retail, office and industrial properties — valued at R59.4bn and the offshore component in Poland — made up of retail and logistics properties — is worth R34.7bn. Flagship local properties include Centurion Mall, East Rand Mall, Blue Route Mall and Wembley Square.
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