Property group Grit Real Estate said on Friday that while the effects of Covid-19 remained uncertain, the company had managed to collect most of its rent since the start of lockdowns.
Grit Real Estate — which has a portfolio of 47 assets in Botswana, Ghana, Kenya, Mauritius, Morocco, Mozambique, Senegal and Zambia — said it had collected 90% of the value of its contracted rental revenue between March to June, including prepaid rentals of $4.6m . “The group continues to focus on further strengthening and defending its current position and delivering effectively on its investment strategy over the short and longer term. Although the full impact of Covid-19 remains uncertain, the company has successfully focused on strong rent collections and tenant initiatives,” CEO Bronwyn Corbett said.The company has collected 72% of its rental revenue in June while it had agreed on short-term concessions on 9.
With rental collections postponed in Mauritius until September, the group said that could result in slower cash collections during the current financial year. In June, Grit announced its plan to delisting from the JSE following an offer by the Botswana Development Corporation Limited and Kenyan insurance company Zep-Re for a consolidated consideration of R14.90 per share. The company said it planned to focus on its listings on the London and Mauritius.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Grit Real Estate boasts good rental collection despite effects of Covid-19Grit agreed on rent deferrals on 12.7% and rent concessions on 8.4% of contracted rental revenue between March and June
Source: BDliveSA - 🏆 12. / 63 Read more »
WATCH: Real Madrid close on La Liga title as Ramos late show sinks Getafe.realmadriden captain SergioRamos kept his nerve to score a late penalty and secure a hard-fought 1-0 home win over GetafeCF on Thursday | IOLsport
Source: IOL - 🏆 46. / 51 Read more »
Inter sign Moroccan full back Hakimi from Real MadridReal Madrid's Moroccan fullback Achraf Hakimi has left the club and signed for Inter Milan. | IOLsport
Source: IOL - 🏆 46. / 51 Read more »
Patrolling cops find group of children playing with real gunMpumalanga police said they were concerned about guns ending in the hands of children after patrolling officers came across a group of boys aged between 6 and 9 playing with a firearm.
Source: IOL - 🏆 46. / 51 Read more »
Real Madrid launch women's team after takeover approvedReal Madrid have launched a team that will compete in the top division of Spanish women's soccer from next season. | IOLsport
Source: IOL - 🏆 46. / 51 Read more »
Grit Real Estate boasts good rental collection despite effects of Covid-19Grit agreed on rent deferrals on 12.7% and rent concessions on 8.4% of contracted rental revenue between March and June
Source: BDliveSA - 🏆 12. / 63 Read more »