Cape-based Tower Property Fund increased distributable earnings by 72% to R109 million in the six months to November 2015 as the fund embarked on an offshore acquisition strategy. Revenue for the half year grew by 55% to R183 million and operating profit by 38% to R133 million. An interim distribution of 45.2 cents per share […]
About Dylan Stipinovich
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Entries by Dylan Stipinovich
The Tower Property Fund, which upon listing on the JSE in July 2013 set a clear strategy of occupancy cost reduction across the board, with a strong focus on “greening”, has continued to make good on its intentions and is currently rolling out green measures to several buildings within the fund’s portfolio. Marc Edwards, CEO […]
Tower Property Fund has begun the move into the residential property sector through the exciting development of a residential node within the Cape Quarter precinct. The De Waterkant development, situated at 32 Napier Street in Cape Town’s CBD, will be made up of 11 residential apartments ranging in size from between 66 square metres and […]
Tower Property Fund has purchased a newly built office tower in Zagreb, Croatia. Marc Edwards, CEO of Tower explains that the acquisition is the first in Tower’s broader strategy of establishing an offshore operation. “Our strategy is to seek out new markets that provide strong diversification opportunities through premium, high quality properties. Europe further offers […]
Tower Property Fund continues to grow, and as part of the funds strategy to acquire well located, quality properties, has recently announced a number of new acquisitions located in strong areas throughout South Africa. The first building is the Sunclare office block which is being purchased at a cost of R192 million. This purchase consists of […]