Tower Property Fund Results

Portfolio

value

R4.5bn

Loan to

Value

40.1%

Vacancies

15.2%

Net asset value

per share

R7.33

Revenue

[Geographic]

31% | Gauteng by Revenue

35% | Croatia by Revenue

25% | Western Cape by Revenue

9% | KZN by Revenue

Revenue

[Sectoral]

45% | Retail by Revenue

47% | Office by Revenue

8% | Industrial by Revenue

Asset Value

[Geographic]

27% | Gauteng by Asset Value

34% | Croatia by Asset Value

31% | Western Cape by Revenue

8% | KZN by Revenue

Asset Value

[Sectoral]

44% | Retail by Asset Value

47% | Office by Asset Value

2% | Inventory by Asset Value

7% | Industrial by Asset Value

Listed Property Fund

Tower owns a diversified portfolio of high quality office and retail properties based predominantly in Gauteng and the Western Cape, Zagreb in Croatia and with some exposure in KwaZulu-Natal. Flagship properties include Cape Quarter, a landmark retail and office property in Cape Town and Upper Grayston Drive Office Park, a green star rated office park in Sandton.