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Listed property update: Navigating extraordinary times

In this live-recorded webinar, STANLIB’s Head of Listed Property, Keillen Ndlovu and Senior Portfolio Manager Nesi Chetty share information about the impact of the pandemic on the local property market and how the STANLIB team is navigating through the ongoing uncertainty. Keillen and Nesi will also share their views on the potential opportunities we may see in the short to medium term

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Keillen Ndlovu

Keillen Ndlovu

STANLIB Head of Listed Property

BCom(Hons), CAIB(SA), Property Development Programme
Industry experience – 14 years

After beginning his property career with Standard Bank Properties in 2004, Keillen transferred to STANLIB in 2005 as a listed property analyst.

Nesi Chetty

Nesi Chetty

Senior Portfolio Manager

BCom (Hons) Finance Cum Laude, CFA
Industry experience – 18 years

Nesi joined STANLIB in May 2019. Nesi manages the largest listed property fund in South Africa, the STANLIB Property Income Fund.

Key takeouts 

 

  • Retail sector is under pressure as only pharmacies and supermarkets are trading during lockdown, which is also increasing the risk of tenant failures. Likely outcomes include rent reductions, concessions or payment holidays, increasing arrears and bad debt 
  • Office sector is facing challenges of oversupply in weak economic conditions. The lockdown has proven the ability to work from home for many businesses, which could be a game changer and weaken demand in this sector further
  • Industrial sector is largely dependent on the success of the retail sector, and is mainly driven by logistics and warehouse activities. Expect to see some benefit from increased online shopping
  • Offshore sector is benefitting from currency weakness (though not fully reflecting in local share prices of most of the offshore players or hybrid REITs) but everyone is facing the same situation due to lockdowns. However, governments in the UK, Australia and Europe have greater means to support their citizens and businesses
  • Investors should take a long-term view on the property market post COVID-19

Look out for more information about the impact of COVID-19 in our previous webinars accessible 

on the links below: 

 

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