Emira Property Fund, owner of Knightsbridge Office Park in Bryanston and the Quagga Shopping Centre in Pretoria whose offer to take over SA Corporate Real Estate was rebuffed last week, says it is still in a strong position to buy other local real estate companies.
Emira had tried to buy SA Corporate but it was prevented from doing a due diligence on the diversified group. It had wanted to gain exposure to SA Corporate’s R4bn residential portfolio. Emira CEO Geoff Jennet shares his take on what the annual numbers suggest for the company's strategy going forward.
“The company has done well the last few years to improve the quality of assets. The strategic focus to sell B-grade office assets and recycle capital into share buybacks and offshore investments is starting to pay off,” Nesi Chetty, senior portfolio manager at Stanlib, said.
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