Redefine bets on 'first world'

Redefine says international property sectors will outperform South Africa's markets as the international economies return to profitability. Image: Redefine.

He says international property sectors will outperform SA's listed property and other investment classes as various European and the US economies recovered.

Watters said market sentiment had improved significantly across all the sectors in which Redefine operated. The company is a UK real estate investment trust (Reit) with a primary listing on the London Stock Exchange and a secondary one on the JSE.

Redefine's investment portfolio is mainly in Europe and valued at more than £1bn. It is made up of property assets in the retail, office, industrial and hotel sectors across the UK, Switzerland, Germany, the Netherlands, the Channel Islands and Australia.

"Signs of improved occupier demand continue, both in the retail and commercial sectors, although clear underlying rental growth may still take time," Watters said.

Alternative Real Estate fund manager Maurice Shapiro said investors should be aware of the expected improvements in developed markets' listed property sectors. He was concerned about risks facing SA's economy and listed property, such as the rand's weakness.

Source: Business Day via I-Net Bridge