Is this the end of the Reit model or are we amid an industry reset?

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South Africa’s listed property or real estate Investment trust (Reit) sector has gone from being the best performing asset class a few years ago, to the worst-performing investment for the last three consecutive years (2018 to 2020). The Covid-19 economic crunch has added to the industry’s woes, forcing many listed Reits to withhold or defer dividend payments, or opt for reduced payout ratios.

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In terms of total returns, the SA Property Index plunged over 34% in 2020, wiping billions of rands off the sector’s market value. In this Moneyweb Property webinar, we speak to top industry insiders and ask whether this is the end of the Reit model as we know it, or whether the industry is in reset mode and primed for a recovery?

Join Moneyweb’s Suren Naidoo and Estienne de Klerk, SA CEO of Growthpoint Properties and chair of the SA Reit Association, Keillen Ndlovu, head of listed property funds at Stanlib and Pranita Daya, real estate analyst, at Anchor Stockbrokers on Thursday 22 April at 12h30 for a free live webinar.

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More information on the panelists:

Estienne de Klerk

SA CEO of Growthpoint Properties and chair of the SA Reit Association.

Estienne de Klerk has been involved in banking and listed property for 25 years. He is experienced in take-overs, mergers and acquisitions as well as transformation deals and capital raisings. Estienne is a chartered accountant who started his career with the marketing department of Eskom Durban Distribution, followed by roles in banking and property finance with Investec Private Bank. In 2002 he joined Investec Property Group’s property fund management business, which was then building its property funds under management including Metboard Properties Limited and Growthpoint Properties Limited. He was appointed Fund Manager and Executive Director of Metboard, and later went on to become Executive Director and Group Managing Director of Growthpoint before being appointed Chief Executive Officer (SA).

Estienne has always been active in the leadership of the South African property industry and is a well-respected voice for the sector. Estienne is Chairman of the SA REIT Association, of which he is a longstanding member having served on its Exco and as Chairman of its Taxation and Regulatory committee since inception, where he laid the groundwork for the country’s REIT framework. He is a Past President of the South African Property Owners Association (SAPOA) and represented the industry in the Property Sector Charter negotiations.

Keillen Ndlovu

Head of listed property funds at Stanlib.

Keillen manages the largest listed property unit trusts in South Africa, the STANLIB Property Income Fund as well as the STANLIB Global Property Fund. After beginning his property career with Standard Bank Properties in 2004, Keillen transferred to STANLIB in 2005 as a listed property analyst. He became a fund manager in 2008 and was appointed head of STANLIB’s Listed Property team in 2010. The Listed Property team, with total assets under management of over R11bn, has won numerous Raging Bull and Morningstar awards over the years for top performance. Under his tenure, the team has expanded its listed property offering to global property markets. Keillen is a regular commentator in the media on listed and commercial property issues.

Pranita Daya

Real estate analyst at Anchor Stockbrokers.

Pranita is a qualified chartered accountant and obtained her BCom Accounting degree from the University of Witwatersrand and her BCom Honours at the University of Johannesburg. She completed her 3 years of articles at KPMG in the consumer markets and retail sector, where her biggest clients were the Business Connexion Group, And Beyond Holdings and Yum Restaurants, amongst others. Pranita also holds a JSE Registered Trader certification with the South African Institute of Financial Markets and is currently working towards obtaining her CFA designation having completed CFA Level 1 thus far.

Register for the webinar here