Offshore businesses reward Redefine Properties

Company has been investing in Poland since 2016 and its investments in the fast-growing east European country are paying offRedefine Properties’ decision to enter the Polish market three years ago is paying off with the investments contributing almost a quarter of the group’s dividend growth for the six months to February.Konig said Poland’s consistent economic growth over the past decade had largely been driven by consumer spending which supported subsidiary EPP NV’s shopping centres.

CEO Andrew Konig said the company was not on an investment strike in SA, but that many of the players it would have done business with locally were waiting for the outcome of the country’s national elections. He said business and consumer confidence were low and that this placed strain in certain areas, including the office and retail markets.

Its rival and the largest listed real estate group on the JSE, Growthpoint Properties, reported 5.9% dividend growth for the six months to December.

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