Growthpoint signals turnaround in JSE listed property sector

Growthpoint Properties Limited published its financial results for 2021 on the 15 th of September 2022. The real estate sector in South Africa as in the rest of the world was one of the biggest casualties of the COVID pandemic. Growthpoint Properties Limited which is the largest REIT listed on the JSE announced its results on the 15 th of September 2022. Results…

Growthpoint Properties Limited published its financial results for 2021 on the 15

The real estate investment trust (REIT) is the largest such listed entity on the Johannesburg Stock Exchange and is reliable indicator for the sector as a whole. The real estate sector in South Africa as in the rest of the world was one of the biggest casualties of the COVID pandemic. REITs on the JSE were not spared.

The COVID pandemic created a perfect storm for property owners in South Africa. When COVID spread to the rest of the world after beginning in Wuhan in China in 2019 two things happened that adversely affected the REIT sector on the JSE including Growthpoint.

•Growthpoint Properties Limited which is the largest REIT listed on the JSE announced its results on the 15th of September 2022.

•Results for the REIT reflected an improved operating environment for companies operating in the real estate space in South Africa and those listed on the JSE.

•Real estate generally and JSE listed REITs specifically were adversely affected by the COVID pandemic and the resulting lockdown which constrained their ability to generate income.

Global capital markets experienced an unprecedented sell off …

The post Growthpoint signals turnaround in JSE listed property sector appeared first on The Exchange.

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