Thursday, 19 November 2020 06:25

Emira is powering business the sustainable way

Mitigating environmental and economic risks for itself and its tenants’ businesses, Emira Property Fund is continuing its programme of investment into clean energy from renewable resources to create long-term growth and drive economic recovery.

Emira Property Fund has announced it is investing R17,6 million for generators to serve retailers at its super-regional Wonderpark Shopping Centre in Pretoria to help counteract the detrimental effects of load shedding on their businesses.

Emira Property Fund today reported distribution growth to investors of 6.5% for its six-month period to 31 December 2013.

Retail is set to be the top performing sector in South African commercial property sector and, with 35% of its diversified investment portfolio comprising retail property, Emira Property Fund is in good shape to benefit from this trendin 2014.

Emira Property Fund reports that vacancies in its property portfolio dropped below 7% for the first time since 2008.

Emira Property Fund has raised a further R450m in debt to help fund the extensions of its Wonderpark Shopping Centre in Pretoria and to pay back the balance of the notes that were issued by Freestone Finance Company (Pty) Ltd in March 2008 and were due for repayment early next year. 

After deciding to seek tenders for the property management contract of its R8.8bn portfolio, the Emira Property Fund board has outsourced the property management of its commercial and industrial portfolio to Eris Property Group and virtually its entire retail portfolio to Broll Property Group.

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