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Nelson Mandela Day: City Property gives Pretoria CBD some much-needed cleaning
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Jeffrey Wapnick, MD of the JSE-listed real estate investment trust, discusses how the residential property market has recovered from the Covid-19 fallout and why he still sees commercial property opportunities in Gauteng’s two biggest city centres.
Octodec Investments’ taxed distributable income fell by 14.1 percent after the relief it granted to tenants who couldn’t pay rent, due to lockdown restrictions, and negative rental reversions resulted in lower rental income in the year to August 31.
Octodec sees better city centre activity
By Edward West
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CAPE TOWN - THE âCITY BUZZâ was back with the return of people to the Johannesburg and Tshwane city centres and virtually all of Octodecâs retail tenants were trading, Octodec Investments managing director Jeffrey Wapnick said.
He was speaking about the post-February 29 trading period, at the release yesterday of the interim results for the six months to that date.
Wapnick said although the economic and Covid-19-related environments remained uncertain in the future, leasing activity had picked up across sectors and they were seeing renewed confidence from national tenants to commit to leases.
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