Resilient lifts H1 distribution 18.3% to 159.59c

Posted On Thursday, 06 February 2014 12:08 Published by eProp Commercial Property News
Rate this item
(0 votes)

Resilient increases its distribution by 18.3% to 159.59c per linked unit for the interim period ended December 2013.

Des de Beer

Property company Resilient has increased its distribution by 18.3% to 159.59 cents per linked unit for the interim period ended December 2013.

Turnover rental of R21.2 million was received against a budget of R12.8 million.

Management said this supported its view that rentals in the property portfolio‚ on average‚ are below market.

According to the company‚ distributions are forecast to increase by between 17% and 19% for the 2014 financial year.

The board agreed to increase its capital commitment to the Resilient Africa joint venture for the development of properties in Nigeria to R1 billion.

Resilient has a 50.98% interest in Resilient Africa with Standard Bank and Shoprite Checkers as its joint venture partners.

Last modified on Friday, 18 April 2014 09:11

Most Popular

Balwin's Munyaka registers record R850 million in opening weekend sales, selling 555 apartments

Mar 09, 2020
JSE listed Balwin Properties, a developer that cares about environmentally responsible…

Young buyers driving residential property market in Bloemfontein

Mar 04, 2020
Bloem Willows
Bloemfontein is experiencing a surge in residential property transactions concluded by…

Hyprop bolsters Rosebank Mall offering through securing the Checkers Premium FreshX concept

Mar 04, 2020
Rosebank Mall
Shoppers at Rosebank Mall in Johannesburg can look forward to a world-class supermarket…

Balwin Properties and ABSA launch South Africa’s first green home loan

Mar 13, 2020
Apartment 71933
JSE-listed Balwin Properties Limited (Balwin Properties or the Company) and Absa Group…

City Lodge Hotels to list on A2X

Mar 04, 2020
City Lodge Hotel
City Lodge Hotels Limited (share code: CLH) has been approved for a secondary listing on…

Please publish modules in offcanvas position.