Amid a cautious property market, Growthpoint used its nine‑month trading update to 31 March 2026 to sketch how it is reshaping its South African portfolio for resilience.
The REIT said it has sold 21 assets for R2.0bn so far this financial year and has a further R2.9bn of disposals progressing, putting projected FY26 sales at R5.1bn—well ahead of its R3.5bn target. Management framed the programme as a deliberate pruning of non‑core holdings alongside selective, targeted redevelopments to concentrate capital in stronger assets.
Operationally, conditions in South Africa showed improvement: portfolio vacancies edged down to 7.3% and leasing activity picked up, with stronger deal flow and renewals tempering space churn. The company said redevelopment work is focused on lifting asset quality and tenant appeal where it retains long‑term conviction.
Looking ahead, Growthpoint plans to keep recycling capital through asset sales while executing its redevelopment pipeline and pushing occupancies. For more detail, see the full announcement.