SA Corporate - Properties damaged during unrest in Kwazulu-Natal and Gauteng
SA Corporate Real Estate Limited
(Incorporated in the Republic of South Africa)
(Registration number 2015/015578/06)
Share code: SAC ISIN: ZAE000203238
(Approved as a REIT by the JSE)
("SA Corporate" or “the Company”)
SA CORPORATE - PROPERTIES DAMAGED DURING UNREST IN KWAZULU-NATAL
Shareholders are advised that several of SA Corporate’s retail shopping centre properties
have suffered various degrees of damage due to criminal actions perpetrated by persons
participating in the unrests in Kwazulu-Natal and Gauteng over the past few days.
To date, the following properties in Kwazulu-Natal have been affected by extensive looting
and associated damage:
- Umlazi Mega City and adjacent property (75% owned)
- Springfield Value Mart
- Pine Walk Centre
- Davenport Square
In Gauteng, the extent of looting and damage was relatively minor compared to that suffered
in Kwazulu-Natal, with the following properties affected:
- Johannesburg Shopping Centre
- Khan Corner
- Normandie Court
- Queens Court
Reports indicate that none of the Company’s residential properties have been affected.
SA Corporate continues to work closely with local law enforcement, security providers,
property managers and other relevant parties to maintain the safety of customers and tenants
and to protect SA Corporate’s properties during this volatile time.
The Company has been in contact with its insurers and has SASRIA riot insurance in place to
cover its assets and loss of rental. Management is currently assessing all impacted properties
with the respective tenants and insurers to quantify the damage suffered and to manage clean-
up and repair efforts.
The Company will continue to update the market as matters develop further.
13 July 2021
Sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 13-07-2021 04:18:00
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