|% From 52WK High||-16.25% (800)|
|% From 52WK Low||4.36% (642)|
|Business||Tower owns a diversified portfolio of 50 retail, office and industrial properties valued at R5.1 billion (as at 30 June 2016), located in South Africa and in Croatia, representing 69% and 31%, by value, respectively. The South African portfolio is spread across the Western Cape (26% by value), Gauteng (33% by value) and KwaZulu-Natal (10% by value).|
|Results||May 2018 Final estimated to be released on Tuesday , 31 July 2018|
|AGM||Next AGM date: Wednesday, 17 October 2018|
|Market Cap||R 2,274,982,635|
|P/E Ratio||11.57||Dividend Yield||SUB REQUIRED|
|23/04/2018||TOWER PROPERTY FUND LIMITED - Update on the refurbishment of Cape Quarter Piazza|
|05/03/2018||TOWER PROPERTY FUND LIMITED - Dealings in securities by a director and an associate of a director of the company|
|01/03/2018||TOWER PROPERTY FUND LIMITED - Tower concludes R300 million investment in tower international with Oryx properties limited|
|13/02/2018||TOWER PROPERTY FUND LIMITED - Unaudited condensed consolidated interim results for the six months ended 30 November 2017|
|07/02/2018||TOWER PROPERTY FUND LIMITED - Further update on Agrokor and the signing of a lease with Spar|
|22/01/2018||TOWER PROPERTY FUND LIMITED - Further update on Agrokor|
|17/10/2017||TOWER PROPERTY FUND LIMITED - Results of annual general meeting and changes to the board of directors|
|Tower Property Fund is an internally managed company which owns a R5.2 billion portfolio of 51 high quality commercial, industrial and retail properties as at 30 June 2016. The properties are located in South Africa as to 69% [Western Cape (27%), Gauteng (32%), Kwa-Zulu-Natal (10%)] and Croatia 31%. Flagship properties in the portfolio include Cape Quarter, the landmark retail and office building in De Waterkant, Cape Town, VMD Kvart Block B, the premium grade office property in Zagreb, Croatia, Link Hills Shopping Centre in Kwazulu-Natal and Upper Grayston Drive Office Park in Sandton. The Group is managed by a highly experienced and respected property team. The Group internalised its asset management function in line with international best practice, in June 2016. Management and shareholders are now fully aligned as there is a perception in the market that external management creates drivers for growth which are not aligned with shareholders' interests.
Tower became South Africa's first new real estate investment trust (REIT) to list when the Group made its debut on the JSE Limited in July 2013.
Tower is committed to a strategy of "greening" to increase the competitiveness and values of buildings in the portfolio. The founders of Tower were the founder members of the Green Building Council of South Africa. The Group is of the firm belief that unless property owners begin to retrofit the properties from a green perspective, those properties will become obsolete over time.
The focus of the greening strategy is on improving energy efficiency which serves to reduce operating costs and lower carbon footprints, making properties more valuable and marketable to prospective tenants.