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Mall operators will continue to provide rental relief in 2021 Reuters > By Reuters - 23 February 2021 - 07:10 The Eastgate Shopping Mall in Bedfordview. The SA commercial real estate sector - with its collection of high-rise office spaces and huge shopping malls - has been among the country s worst hit, along with travel and tourism. Image: Facebook / Eastgate Shopping Centre Two of SA s prime commercial property owners will extend rental relief to struggling tenants this year, in a sign the impact of Covid-19 is far from over for hard-hit real estate firms although they see the tide turning at the end of 2021. Liberty Two Degrees (L2D) and Redefine Properties - owners of some prominent commercial real estate in Johannesburg and Cape Town - said they would have to provide rental relief for longer. ....
Sandton City, Liberty Two Degrees s flagship retail property asset recovered to reporting turnover being down by just 1.5% in December. Image: Supplied Precinct and retail-focused real estate investment trust (Reit) Liberty Two Degrees (L2D) has stuck to a 100% payout ratio for its financial year ending December 31, 2020, declaring a full-year dividend of 32.33 cents per share on Monday. The fund, which is the part-owner of flagship properties like Sandton City, Eastgate Shopping Centre and Liberty Midlands Mall, saw its full-year distributions plunging 46.5% in 2020 due to the Covid-19 economic fallout. In 2019, it paid out a final dividend of 60.43 cents per share. Despite the pandemic blow to earnings, and consequently distributions, L2D maintained a 100% payout on the back of a strong balance sheet. ....
23 February 2021 - 07:00 By Nqobile Dludla SA s commercial real estate sector - with its collection of high-rise office spaces and huge shopping malls - has been among the country s worst hit by the pandemic, along with travel and tourism. Stock photo. Image: 123RF/Yulia Petrova Two of SA s prime commercial property owners will extend rental relief to struggling tenants this year, in a sign the affect of Covid-19 is far from over for hard-hit real estate firms, though they see the tide turning at the end of 2021. Liberty Two Degrees (L2D) and Redefine Properties owners of some prominent commercial real estate in Johannesburg and Cape Town said they would have to provide rental relief for longer. ....