Vukile Property Fund: Siren song of Spain is calling loudly

Business

Vukile Property Fund: Siren song of Spain is calling loudly

Time to sell some struggling SA assets and throw more into highly successful malls in Spanish coastal towns

Alistair Anderson

Vukile Property Fund (https://www.sharenet.co.za/v3/quickshare.php?scode=VKE) should consider making Spain its main investment destination and selling some SA assets. As much as 51% of the company’s assets are still in SA.

CEO Laurence Rapp has said that any offshore investments it makes will be in Spain. Given that the Spanish economy is only now rebounding from the global recession of 2008/9 and many of its malls are enjoying a boost in trade, it makes sense for Vukile to be even more aggressive in Spain.

The Spanish economy is set to expand 2.2% this year, twice the pace of the eurozone area. This is while SA’s economy might manage only 1% growth in 2019...

This article is reserved for Times Select subscribers.
A subscription gives you full digital access to all Times Select content.

Times Select

Already subscribed? Simply sign in below.

Questions or problems?
Email helpdesk@timeslive.co.za or call 0860 52 52 00.

Previous Article