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
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...