“In light of the oversupply of retail space, an economy that is stagnant and changing trends, more retailers could reduce their floor space in centres and close down their underperforming stores,” said Keillen Ndlovu, head of Stanlib’s listed property fund.
Ndlovu said the exposure of listed property investment trusts to the total Massmart group amounted to 419 246m². That is 2.1% of the sectors’ total South African gross portfolio.
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