Business Day: Housing unit the weak link in SA Corporate results

SA Corporate Real Estate, the diversified owner of industrial, retail, commercial and residential buildings located primarily in the big metropolitan areas of SA, with a secondary node in Zambia, grew its dividends 4.4% in the six months to June. The six-month performance was affected by nonrecurring income, resulting mainly from a recovery of written-off bad debt and increased vacancies in the company’s residential portfolio. Historically, SA Corporate has been weighted towards retail and industrial nodes, but it has invested in residential real estate in recent years.

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