Delta: The govt’s biggest landlord could get even bigger

Business

Delta: The govt’s biggest landlord could get even bigger

Two of the original black owned and managed property groups to list on the JSE are in line for a merger

Alistair Anderson

Rebosis Property Fund (https://www.sharenet.co.za/v3/quickshare.php?scode=REB) is likely to be taken over by Delta Property Fund (https://www.sharenet.co.za/v3/quickshare.php?scode=DLT) and not the other way around.

Two of the original black owned and managed property groups to list on the JSE released financial results in the past week that painted differing pictures of the future.

Delta, the largest landlord to the government, has made strong progress in getting through a backlog of unsigned new leases. It managed to pay out a dividend in the six months to August, albeit a fraction of what it paid in the comparable 2018 period. Rebosis, meanwhile, didn’t pay any dividends at all in the year to August 2019...

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