Growthpoint Properties has announced the creation of a dedicated trading and development business unit which will play a key role in creating business opportunities for the company and world-class premises for its clients.
Speaking on the new business unit, Rudolf Pienaar, Growthpoint’s new Chief Investment and Development Officer, who will head the team, explained that in working closely with their clients, they have found that some of their needs go beyond a simple tenancy. These needs typically involve company policies that may require ownership of certain types of properties, this also extends to the need to dispose of a property in order to become a tenant or even the requirement for specialised premises which can only be custom developed.
“Our trading and development team is now able to assist with a full suite of property and consulting solutions and can offer a full spectrum of development services.”
Estienne de Klerk, CEO of Growthpoint South Africa, says: “Growthpoint’s trading and development team is a key part of our business. It has played a significant role in building Growthpoint’s own portfolio. Now, this enables us to provide our clients with an extra service that meets their needs. Besides providing existing buildings we can create new buildings for them that meet their very specific, bespoke requirements.”
Growthpoint is the largest South African primary listed REIT with 547 buildings in its portfolio and a market cap of N77.51bn.
In May 2018, Growthpoint Properties and Investec Asset Management, in partnership with the International Finance Corporation (IFC), also commenced operations of Growthpoint Investec African Properties (GIAP) having secured capital commitments in excess of US$212 million from several large institutional and international investors. GIAP will invest in income-producing commercial real estate assets in select cities across the African continent.