Soweto, South Africa – 18 June 2019: A few months after JSE listed diversified real estate investment trust Redefine Properties started conversing with the community members surrounding Maponya Mall in Soweto, it managed to create 15 permanent jobs and gave entrepreneurs in the community access to valuable space worth over R1 million to showcase services and products at no cost.These efforts are part of Redefine’s commitment to asset based community development approach (ABCD) which seeks to recognise communities as partners possessing the agency and skills to develop and support solutions that will deliver sustainable transformation.The community engagement programme at Maponya Mall, is being rolled out by Redefine together with FNB Philanthropy, which it commissioned to develop and host a series of community-centred conversations in Soweto, specifically in the immediate vicinity of mall.The approach involves full and meaningful engagement with the communities around the buildings it owns and manages, with the objective of achieving sustainable transformation through impactful partnerships with key role players in the community.Marijke Coetzee, Head of Marketing and Communications, Redefine Properties says, “In finding ways to be meaningfully involved, we quickly realised that the communities surrounding our properties have a better understanding of their needs and combined with new and creative thinking can guide and inform the best way forward. We recognised that we could deliver a far greater impact by investing with the communities rather than trying to invest for them."“We wanted then to create a platform for people and communities to come together to achieve positive change using their own knowledge and lived experiences of the issues they encounter in their daily lives.”In its initial phase, the process involved an extensive engagement with over 1 000 community members, community-based organisations, local NGOs, political representatives and local businesses and entrepreneurs.This was followed by a Challenge Convention late last year during which the community and other key stakeholders were invited to highlight the real challenges they face and identify existing community assets that could be leveraged to help address these challenges. Using #ifihaditmyway to lead discussions; innovative solutions emerged which are now being developed further for implementation.“Social change will only occur when people and communities mobilise to use available assets, skills and strengths, to create opportunities and build their own solutions that have long-term impact. We recognise that asset-based community development will not immediately alleviate all the social challenges prevalent but rather view it as a vitally important approach, aligned to our philosophy of using our spaces to change lives,” says Coetzee.Prince Siluma, Head of Philanthropy at FNB Fiduciary says, “Such approaches work well if the communities are involved. The way community members mobilised and contributed to the solutions provided great insights to the Redefine social investment proposition; and confirms that this approach is very likely to deliver maximum positive impact."From these crucial engagements, Redefine will prioritise its activities in favour of working with the youth, SMMEs and the NGOs active in the vicinity of the mall.These groups identified a number of issues that prevented them from fully optimising their potential and Redefine will engage them further to agree on interventions to support capacity building. With an approach as simple as ABCD, the needs of employment, entrepreneurship and empowerment will be met through the efforts’ the community has invested in framing their needs and acting to advance quality of life.“The asset based approach will seek to find a balance between meeting needs and nurturing the strengths and resources of people and communities. It is also a journey of self-discovery, in that identifying our own strengths, capacities and abilities to be able to deliver tangible and positive outcomes,” adds Coetzee in conclusion.
Johannesburg, 05 June 2019 – The Abcon Group Foundation (AGF) is pleased to announce the donation of four new containers which will serve as classrooms and additional ablution facilities for the learners at Hawk Academy in Primrose, Germiston, at a ribbon cutting ceremony earlier today.The Hawk Academy (English medium) school was founded in 2015 by the Mkhonto Family and registered with the Department of Education in 2016. The school started their operations in a mine office building situated along Main Reef Road in Primrose, and it became evident that it needed to be formalised further by developing a suitable school facility.Redefine in partnership with Abland, one of South Africa’s leading property developers for over 30 years, donated 6.5 hectors of land towards the development of the school that now accommodates 1 200 learners from Grade R up to Grade 12. JSE listed Redefine is part of the FTSE/JSE Top 40 index, making it one of the 40 largest listed companies in South Africa by market capitalisation.AGF was introduced to the school in 2017 and has since fully committed most of its socio-economic development proceeds towards the school. This has included the provision of a fully equipped library, a 20 000 litre water tank, in partnership with Redefine 36 toilets and two additional classrooms in the past two years. It has also doubled the existing area of the school providing more space for the additional classrooms, ablution facilities and play areas for the children.“Children in the area who had nowhere to go for any schooling have found a new home to go to, not only for schooling, but to play in the open school premises. Most of the families residing in the Delport and Marathon informal settlement rely on government grants and cannot afford the price of education and transport, while some are not documented and therefore do not qualify for grants. The school has become a haven of hope for the community,” said Londiwe Mthembu, Managing Director, Abcon Group Foundation.Marijke Coetzee, Head of Marketing and Communications, Redefine Properties says, “We recognise the unique social responsibility that comes with being a leading South African REIT. Our aim is to manage and create spaces in a way that changes lives and contributes to the development of more collaborative communities in and around our buildings.” Through the funds raised by AGF, it assists Hawk Academy with infrastructure development and maintenance, and continues to be actively involved with various programmes at the school and in the community. These include donating stationery, toys and toiletries, feeding schemes, painting and cleaning of the facilities, book drives, as well as various employee volunteer programmes. Media ContactsFor more information, please contact:Michelle Samrajmichelle.firstname.lastname@example.org+27 11 480 8526ABOUT ABCON GROUP FOUNDATIONTHE Abcon Group Foundation (AGF) was founded by the Abcon Group of Companies in 2013. The AGF is a well-established and reputable group that operates in the property and built environment industry.The AGF has the ability to raise money through the Abcon Group’s BEE spend. The strategic partners of the Abcon Group, directly and indirectly, support the AGF. The Abcon Group and its strategic partners support the AGF through various fundraising initiatives such as potjiekos competitions and golf days.The AGF has been set up to drive the transformation strategy of the Abcon Group by the provision of B-BBEE advisory services and the facilitation of opportunities to invest in skills development and training, enterprise and supplier development and socio-economic development. These opportunities are not limited to the Abcon Group but are available to our strategic partners.
Johannesburg, South Africa – 4 June 2019: Two-time Governor of California, actor and former bodybuilder, Arnold Schwarzenegger will bring his widely imitated heavy teutonic accent to South African television in a celebrity turn when he features on the popular The Mentorship Challenge, with Marc Wainer on eNCA and e.tv.The episode shot on the sidelines of the Arnold Classic Africa will be broadcast on eNCA (DSTV channel 403) and e.tv (DSTV channel 194) on 29 June 2019.The Arnold Classic Africa takes place in Johannesburg every May and is held under the aegis of the annual Arnold Sport Festival hosted globally across six continents. The events feature professional bodybuilding and related contests, amateur bodybuilding, strength and combat sports, a large health and fitness expo and youth events that vary from continent to continent.Host Marc Wainer says, “Arnold is a legend, he is an epitome of what one can achieve with some help. It is a matter of simply asking for it.”“Born to humble beginnings, he became a champion body-builder winning Mr Universe five times and then reinvented himself to become an A-list movie star, moving then into politics to be the Governor of one of the richest states in the US, California, twice. The state’s economy rivals the United Kingdom’s and if it were a country, it would be ranked 5th in the biggest economises.”By his own admission, Schwarzenegger has been very vocal about the help he received on his entrepreneurial journey. In the foreword for Tim Ferris’ book Tools of Titan, the self-effacing Schwarzenegger writes, “I am not a self-made man. I got a lot of help.”“Like everyone, to get to where I am, I stood on the shoulders of giants. My life was built on a foundation of parents, coaches, and teachers; of kind souls who lent couches or gym back rooms where I could sleep; of mentors who shared wisdom and advice; of idols who motivated me from the pages of magazines (and, as my life grew, from personal interaction).”“There cannot be a better endorsement and ambassador for mentorship. Arnold has simply achieved what many of us would take more than one lifetime to accomplish,” adds Wainer.Now in its second season, The Mentorship Challenge is a weekly television show that unpacks the notion of social upliftment through mentorship. The programme provides an enabling platform for top business leaders in the country to create a legacy through shaping the journeys of the budding business trailblazers of tomorrow.The show seeks to entrench a culture of mentorship in a skills-scarce South Africa by challenging business leaders to pledge personal time to mentor budding entrepreneurs. The show’s online platform provides the real estate for the mentors and mentees to engage and schedule time together.The show expected a modest outcome - 100 mentors pledging a total of 500 hours to a base of 1 000 mentees. At the end of season one, just shy of 210 mentors had signed up exceeding the initial target, collectively pledging over 5 930 hours between them.“We are extremely thrilled to have someone of Arnold’s stature on the show who openly and single handledly has bust the myth of a self-made man. It is our hope that viewers are not only entertained by Arnold but also inspired by his success. That said, it is also a clarion call for all business leaders to recognise the potential of all South Africans,’ says Wainer in conclusion.Having grown from humble origins himself, Wainer built JSE listed diversified real estate investment trust Redefine Properties. He is currently the Executive Director and recently stepped down as Executive Chairman.
Johannesburg – 6 May 2019 – Redefine Properties (JSE: RDF), which has increased its distribution for the six months ended 28 February 2019 by 4.0% to 49.2 cents, continues to build a solid platform for sustained growth and value creation despite ongoing economic and political uncertainty.Internationally held assets contributed 25.4% to income during the review period, with total assets under management increasing by R500m to R99.2 billion. Offshore expansion of R1.9 billion was achieved, of which R0.5 billion was invested into the exciting Polish logistics platform. The local portfolio also received a significant portion of the development spend at R1.3 billion.“We continue to focus on improving the quality of earnings delivered organically and our diversified asset platform is capable of absorbing shocks and providing a springboard for sustained growth,” says Redefine CEO Andrew Konig.While the build-up to South Africa’s election on Wednesday “has been quite smooth”, Konig says confidence needs to return in SA to encourage future growth.“Business and consumer confidence are low and this places strain in certain areas, such as the office and retail markets. Confidence will return once there is improved policy certainty. However, if there is any benefit from the election outcome it will probably only be evident in 2020/21 as opposed to the 2019 financial year,” says Konig.Redefine’s market guidance is that the distribution for the full year will be similar to first half growth of 4% subject to conditions not deteriorating any further than they already have.“Maintaining operating margins is challenging in current conditions and improving quality of earnings is an ongoing theme. However, we managed to maintain our active portfolio margin at 82% in very competitive trading conditions, with tenant retention remaining at a high at 96.6% of leases renewed,” says Konig.Installing renewable energy interventions is one area in which Redefine is sees scope for growth, notably to alleviate some of the pressure caused by Eskom blackouts and tariff increases. During the reporting period, total solar PV capacity increased to 23.5 MWp. Another move to calibrate to the “new normal” has been a move into flexible workspaces. WeWork, the global community company with operations in over 400 locations across 100 cities, will be leasing six floors at Redefine’s iconic Rosebank Link. This extends WeWork’s global presence to Africa, with Rosebank Link being its first site on the continent.A highlight was Moody’s reaffirmation of Redefine’s investment credit grade rating.CFO Leon Kok says the loan to value ratio – the ratio of its loans to property related assets – increased to 42.3% in the first half and in order to reduce this, Redefine will be considering equity funded asset acquisitions on a nondilutive earnings basis, while also actively managing recycling activities to fund the development pipeline.He says interest rates were hedged on 79.2% of total debt and refinance terms for all near- term debt maturities had been agreed. “Our funding strategy has focused on protecting our balance sheet and optimising cost of capital. Responsible balance sheet management remains a top priority,” says Kok.In a move to bolster corporate governance and enhance diversity, the highly respected Sipho Pityana joins the Redefine board as independent non-executive chairman to replace Marc Wainer.“We have been working on a smooth transition and succession plan for more than a year and are truly delighted to welcome someone of Sipho’s caliber to our board. At the same time, we are fortunate to retain Marc Wainer as an executive director as we continue to tap into his vast knowledge, having been through a number of property cycles, and his deal-making skills,” says Konig. Pityana took over as president of Business Unity South Africa (BUSA) in June last year and has held board positions at companies listed on the New York, London and Johannesburg stock exchanges, as well as on unlisted companies.“With a purpose driven strategy, we are well positioned to take advantage of opportunities, which could arise as a consequence of uncertainty. The key is not to get caught out in the headlights of risk. The cycle will not turn for some time and we hope with the elections out of the way strong leadership will provide direction to lift confidence,” says Konig.“We strive to look beyond the current cycle and have a diversified portfolio to absorb headwinds and provide sustained growth. Our expansion into Poland buffers domestic headwinds and through a purpose-driven strategy Redefine is well-positioned to take advantage of the resultant opportunities,” concludes Konig.
In line with its stated intention of strengthening governance, broadening diversity and improving board independence, JSE listed diversified Real Estate Investment Trust (REIT) Redefine Properties (JSE: RDF) has appointed Sipho Pityana as its independent non-executive chairperson. The appointment is effective from 3 May 2019. Sipho (BA (hons) (Essex), MSc (London)), is the founder and chairman of Izingwe Capital (Pty) Ltd, a privately held investment company. He is also chairperson of the board of directors of public listed companies AngloGold Ashanti Limited and Onelogix Group Limited, and an independent director of Absa Bank Limited. Sipho is also a member of the World Economic Forum’s Community of Chairperson of global companies and the chairperson of the Council of the University of Cape Town. He is the president of Business Unity South Africa and a director of Business Leadership South Africa. Previously Sipho served on several boards of private sector companies in both executive and non-executive capacities and in senior roles in the public sector. He takes over from Marc Wainer who will remain an executive director of Redefine. The board of directors of Redefine welcomes Sipho and looks forward to his contribution to the company. The board thanks Marc for his valuable contribution, unstinting leadership and guidance since founding Redefine in 1999, and wishes him well in his new role.
Soweto, South Africa – 09 April 2019: Mary-Ann Mandishona’s Cash4Trash emerged as the winner in the first ever Redefine Properties’ Innovation Challenge announced at the Challenge Convention at Maponya Mall in Soweto. Mary-Ann Mandishona won the R1 million in prize money for her efforts and an opportunity to negotiate start-up support to the value of up to R9 million in the form of either monetary support, education, commercial space or concept acquisition. Ms Mandishona was selected from a group of five finalists for the prize, which recognises an individual who envisions and creates an implementable social innovation project to help communities around Redefine’s properties.Cash4Trash is an income generating recycling initiative powered by vending machines located in Redefine malls. The vending machines will be strategically located in Green Zones in the mall and the community can bring through their recyclable trash to be converted in usable coupons inside the mall.Launched in October 2018 at the first Challenge Convention, the Innovation Challenge is a national competition developed by JSE listed diversified real estate investment trust Redefine Properties inviting the general public to submit ideas on how the company can better engage with and meet stakeholders’ expectations, integrate community and improve experiences. The Challenge Convention concept is a live forum-style event that brings together all stakeholders around Redefine buildings including business students, entrepreneurial-minded thinkers, community representatives, NGO’s, tenants and shoppers. The collective seeks to elevate conceptual thinking to practical implementation, delivering tangible outcomes for the benefit of the communities.In its first year, the Innovation Challenge attracted 1250 entries from across the country. The challenge looked for innovative ideas relevant to the property industry which had the potential to revolutionise either retail, commercial or industrial space in enhancing business opportunities and customer experiences, uplifting communities and their integration in respect of any of the spaces. Individuals could choose to address any issue the community faced embracing technology.The top fourteen finalists pitched their ideas over the past 2 days to a panel of judges which included Marc Wainer founder and executive chairman of Redefine properties, Vusi Thembekwayo, global speaker, venture capitalist and author, as well as Bridgitte Mathews an independent non-executive and deputy chairperson of Redefine Properties.Receiving the top honours, Mary-Ann Mandishona said, “As exciting as this win is, I cherish the time spent with the mentors and deeply appreciate the guidance from Marc Wainer and Jacques Velleman who helped me to better understand the challenges we were finding solutions to. Redefine provided all the finalists with mentors for pitching and it was really helpful as the feedback was great and criticism constructive.”“We were able to access a lot of resources on this journey from the proof of concept-to-the- prize and I am looking forward to working with Redefine and the mentors I met through the competition to help further develop my idea.”Redefine Properties was particularly impressed by the solutions proposed by the contestants says Andrew Konig, CEO.“Many of the solutions aligned to the objectives we set out to meet. The Innovation Challenge has lived up to its intent of being an informed, targeted initiative to create shared value for us and our stakeholders.”“This is our investment in entrepreneurs all over South Africa, building a unique network to unlock the informal business structures, helping create an entrepreneurial culture and providing critical support for a ‘new generation’ of future tenants, employees and suppliers. It also addresses business issues like transformation, filling the skills gap, remaining relevant and offering better experiences in our spaces,” adds Konig.The next Innovation Challenge will be announced towards the end of 2019.“We aim to create a movement and understanding that innovation and entrepreneurship can be manufactured in our communities all over the country with the right mentors and support. The Innovation Challenge is a celebration of this, and all the contestants and the finalists are the ambassadors of SA’s innovative spirit, my congratulations to them all,” says Konig in conclusion.About Mary-Ann Mandishona: Mary-Ann was born in Westbury, a notorious coloured township in Johannesburg known for gang related violence. A directing graduate from the New York Film Academy (USA) who has attended several international film festival programmes, Mary-Ann is a board member of SWIFT (Sisters Working in Film and Television) and on the steering committee of the South African Film Summit. She also holds a Master’s from Goldsmiths University of London (UK).Her credits include the award winning documentary Portrait of an African Matriarch: Joyce Mujuru”. From 2008 to 2016 she worked for CREET (Centre for Renewable Energy and Environmental Technology) as managing director with her father Dr Gibson Mandishona in initiating innovative environmental projects like the installation of biogas digestors in rural clinics, community centres and homes.
Rosebank, South Africa - 10 April 2019 – In the face of tough economic conditions and ongoing uncertainty in the lead up to the May 8 elections, Redefine Properties (JSE: RDF) is being buoyed by its strong focus on tenant retention. Redefine remains at the leading edge of key trends shaping the sector through deepening tenant and broker relationships, ensuring consistency in customer experiences, and improving operational sustainability.“Tenant retention is our number one priority and we are therefore focusing on improving occupancy by rejuvenating premises to ensure that they remain relevant to the user’s needs. We are also boosting operational sustainability through facilities and utilities management interventions,” says says Pieter Strydom, Commercial Asset Manager, Redefine Properties.Redefine is aware flexible workspaces are quickly becoming the “new normal” in the modern working world, for instance. It already has exposure to four of the larger co-working businesses: Flexible Workspace, The Business Exchange, Regus and more recently WeWork.Strydom says the 15-story multi-faceted architectural icon, Rosebank Link – measuring 20,000 square metres – is now fully let, with We Work as the primary tenant.Increasing the number of Green Star-rated buildings also ranks high on the agenda and Rosebank Link boasts a 4 Star Green Star rating.Investors were told during a site visit today that while Sandton has an over-supply of office space, well located P-grade green buildings remain in demand, keeping vacancy in that market segment low. “While traffic remains the key detractor in the Sandton node, new builds offer amenities, accessibility to transport and efficient green-building designs,” says Strydom.Strydom says nodal demand in Sandton is being driven by proximity to the Gautrain and consolidation and densification, while Redefine has also noticed an increase in residential development in Sandton, with mid-tier accommodation being planned. He told investors that Rosebank remains a high-demand area with a shortage of available P-grade offices.Investors were updated on Pybus, the bespoke chambers for advocates, who are known to be long-term, secure tenants. Showcasing a barista café and boardroom facilities free of use to all, 11 500 square meters are 74% let, with the first tenants moving in earlier this month.Redefine also showed investors how 155 West has been refurbished to an A-grade specification. Although lower Sandton is not showing strong demand, 155 West is bucking the trend with its great value for money proposition translating into good demand for the building. The development, which was completed on April 1, is 60% let.Meanwhile Park Central, the residential development catering to a shift in lifestyle trends, is due for completion on May 31, 2019.“At 20 storeys, this will be one of the tallest residential buildings in Rosebank, and we are making steady progress on bringing these 159 luxury apartments to market. Any unsold units will be rented out and we are excited to be venturing into the residential space in this growth node,” says Redefine CEO Andrew Konig.He cautions however that in Rosebank cognisance must be taken of the future impact on municipal infrastructure and roads that are not being upgraded by council. Notwithstanding the challenges, astute investments based on a deep understanding of the trends shaping the market and the needs of tenants continues to give Redefine a decided edge.“We continue to thrive in a subdued environment marked by low confidence thanks to our strategy of investing where we believe the best market opportunities lie and catering to the evolving demands of tenants,” concludes Konig.
Johannesburg, 25 February 2019 – While economic conditions remain challenging, Redefine Properties (JSE: RDF) continues to align its strategy to long-term trends and proactively manage liquidity through the recycling of non-core assets.With all eyes turning to the pivotal May 8 elections in South Africa following a national Budget which painted a worsening fiscal picture, Redefine CEO Andrew Konig expects 2019 to be “a tale of two halves”.Today at the start of the pre-close investor roadshow, Konig said the year would be defined by continued adaption to global monetary policy normalisation and domestic politics, with the national election in the first half of the year likely to be “a watershed event”. Konig cautioned that the threat of a downgrade by Moody’s alongside Eskom’s financial unsustainability would “weigh on local asset prices”. Despite persistent complexities, however, the global economy is expected to continue its expansion, albeit at a slower pace. In current conditions, Redefine maintains its previous distribution guidance of growth in distribution per share of 4% to 5%. “Our agile, diversified property portfolio is capable of absorbing shocks and providing a platform for sustainable growth,” says Konig.The company is mitigating interest rate and currency volatility through interest rate and foreign income hedging strategies. At the same time, potential for capital upliftment through active asset management is being harnessed.Ensuring geographic and sectoral diversificationDuring January, Redefine acquired a further 44.3 million EPP shares from Pimco /Oaktree, increasing Redefine’s stake in EPP by 5.3%. Four development projects totalling 199,024 square metres and costing €124 million will increase the Polish logistics platform to 512,535 square metres with a total value of €320 million.The development projects are all expected to be completed by end 2019 and on average have an initial income yield of 7.1% and an average return on equity of 11.9%, assuming in-country gearing of 55%.Creating sustainable recurring income streams to enable the phasing out of non-recurring income remains a key priority. Locally the focus is on attracting and retaining tenants, through tenant experience and active asset management. “While high consumer debt levels are expected to contain retail spending to subdued levels, we continue to remain relevant to the communities in which we operate,” says Konig.Among retail developments, Centurion Lifestyle (R85 million) was completed during the half year period, Centurion Mall is projected for completion in June and Little Falls (R298 million) in May. Further opportunities exist at Maponya Mall and Centurion Lifestyle.“While there has been growth across the retail portfolio, Centurion Mall and Benmore Centre remain under pressure due to development activity,” says Konig.While market dynamics remain challenging in the office space, Redefine still sees demand for well located, high quality space.Capitalising on shared workspace environment trend“The trend is towards spatially efficient, collaborative workspaces, as well as general densification. We are focused on positioning the portfolio to capitalise on the shared workspace environment trend, while we continue to develop and refurbish assets in key nodes,” says Konig.Meanwhile, in the industrial portfolio persistent low economic growth is set to place pressure on rental growth and drive demand for efficient, well-located facilities.“There is growing demand for more efficient building design in well-serviced key nodes. Manufacturing tenants are under increasing pressure due to erratic demand, policy uncertainty and sustained tension in the labour market. While industrial remains a defensive sector, we are growing our market share and improving the quality through development activity,” says Konig.Redefine is diversifying sustainable income streams, with solar projects totalling R17 million largely complete and student accommodation development of Hatfield Square completed with bed capacity at 2,200.Student accommodation in Australia, meanwhile, offers exciting growth potential and Redefine foresees occupancy in the second semester reaching 80-85% at Leicester Street, which was opened successfully during the reporting period."Our strategy of geographic and sectoral diversification continues to bear fruit as we build an asset platform that sustains organic growth, broaden sustainability and invest where we believe the best market opportunities lie,” concludes Konig.
Johannesburg, South Africa, 07 February 2019: JSE-listed diversified real estate investment trust Redefine Properties’ new 15-storey Rosebank Link has been completed on schedule, with all its office space now fully let. The iconic building is located at 173 Oxford Road, in the heart of bustling and cosmopolitan Rosebank, and strategically positioned on the doorstep of the Rosebank Gautrain station.The new tower has an estimated gross lettable area of just over 18 000sqm of office space, with approximately 817sqm of retail on the ground floor.WeWork, the global community company with operations in over 400 locations across 100 cities, will be leasing six floors at Rosebank Link. This extends WeWork’s global presence to Africa, with Rosebank Link being its first site on the continent.WeWork’s 173 Oxford Road will become home to over 2 000 members – who will join the global WeWork community of 400 000 members – and open to all types of businesses: startups, SMEs and large enterprise companies who take up about 30% of WeWork’s global membership.“We are thrilled to announce our expansion to South Africa with Rosebank Link in Johannesburg. Not only are we entering a brand-new city with plentiful opportunities for our members, but expanding here is significant for our company in terms of our global expansion – Africa is the sixth continent for WeWork, so this is a very exciting moment for us.“As we continue our growth, we are also committed to sharing the upside with our landlord partners, so are especially pleased to be partnering with Redefine Properties in a revenue-share agreement that allows both parties to benefit from the revenue WeWork’s presence in the building will generate,” says Patrick Nelson, head of real estate for WeWork EMEA.Some of the office tower’s prestigious new tenants also include Covington SA, Jellyfish, Value Capital, GMG and the unicorn of coworking spaces, amongst others.The most distinguishing feature of Rosebank Link is its proximity to the Gautrain station. At just 30 meters, the transit-oriented building is a stone’s throw away from the Gautrain station and the Gautrain bus stop. The tower’s unique location allows a safe and direct access to the station through a landscaped pedestrianised thoroughfare on the ground level, running under the building.“The highly successful letting of Rosebank Link makes us extremely proud. It underscores the fact that, despite a challenging leasing environment, the combination of a top-quality asset and unique location will always attract premium tenants,” says Pieter Strydom, commercial asset manager, Redefine Properties.“It is our second ground-breaking project, after Rosebank Towers, to be built on risk, and its success is a testament to our strategic insight, commitment and belief that Rosebank is a dynamic growth node with opportunities waiting to be unlocked.”Rosebank features unprecedented amenities, like high-performance fitness centres, restaurants, cafes and gastro-pubs, including a soon-to-be-opened top-end Food Lovers Market. Rosebank Link’s ideal location means one can literally walk anywhere to access these amenities or transit points, without the need to cross a road.“Furthermore, the demand for flexibility makes collaborative workspaces appealing to entrepreneurs, small and medium enterprise, as well as agile corporates looking to stay nimble. Increasingly, a number of innovative teams at leading corporates are also moving to inspiring spaces that are fast become habitats for sharing ideas and co-creation,” adds Strydom.Rosebank Link, with its expressive steel and glass clad shell, provides a high level of environmental control within the office space, maximising available natural light and, as a direct consequence, reducing energy consumption.At the heart of the building is a multi-storey, enclosed north-facing atrium, fashioned to capture the abundant sunlight filtering down to the ground floor thoroughfare. This creates a conduit for a combination of green walls and plants brought to life in executive roof gardens terraces, podium level garden terraces and parkade wall gardens, that allow for a tranquil environment not normally afforded in multi-storey buildings.The building consists of two basement parking levels, with additional parking levels above ground, a ground floor public/retail level, five parkade levels and eight storeys of offices above a podium level. Rosebank Link offers parking at 4.8 bays per 100sqm, in line with a premium-grade property.“We have delivered a building which is not only sustainable, but also high on innovation, and is 4 Star Green Star-rated,” says Strydom in conclusion.
22 November 2018: JSE-listed diversified real estate investment trust Redefine Properties’ Southcoast Mall has been voted as the “Best Of South Coast” in the shopping centre category at the South Coast Herald Readers’ Choice Awards. This is the first time the mall has won the accolade. Situated on KwaZulu-Natal’s picturesque South Coast and perfectly positioned at the Shelly Beach and Izotsha Rd off ramp from the N2 highway, Southcoast Mall delivers the ultimate in shopping convenience with over 70 stores in a secure and friendly atmosphere. Accepting the award, Jayne Munro, Centre Manager says, "It is a great honour for us to be recognised as the best especially by the community and the readers who frequent the mall. We would like to thank the readers for acknowledging our sincere efforts we make to ensure the community has a pleasant experience every time they visit the mall.” The 34 335sqm centre which opened in November 2005, is located in the heart of the business, residential and commercial node of the South Coast. Anchored by national brands like Game, Checkers, House & Home, Food Lovers Market and Builders Express, the mall recently welcomed Dis-Chem, and Incredible Connection to its tenant mix.Besides these eclectic ensemble of retail offerings which cater to residents and holiday makers, the mall also offers its shoppers free parking. According to Munro, Redefine’s properties are strategically selected to attract and retain top tenants to accomplish short term growth and long-term sustainability.Munro attributes the success of the mall to its impactful marketing though a mix of both traditional and social media presence and above all positive word-of-mouth.The Reader’s Choice Awards recognise outstanding businesses and initiatives that have made meaningful contributions to the community. Adding to our achievement as the best, Southcoast Mall’s stores also shone at the awards. The winners included Dis-Chem, Best Pharmacy, House and Home, Best Furniture Store, Builders’, Best Hardware, Mr Price Home, Best Home Décor, Food Lovers Market, Best Green Grocer, Mr Price Sport, Best Sports Goods Store, Haskins, Best Jewellery Store and Shoe City took the accolades for the Best Shoe Shop.ENDS
16 November 2018: Redefine Properties’ was once again recognised for its widely acclaimed integrated report, emerging as the overall winner at the Charted Secretaries Integrated Reporting Awards 2018 held last evening. Instituted in 1956 and hosted by the Chartered Secretaries Southern Africa together with the Johannesburg Stock Exchange, the awards celebrate efforts made by companies in reporting sustainability. Considered one of the most prestigious accolades for integrated reporting in the country, the CSIR Award is very democratic with a panel of judges, each individually assessing the reports against the stringent criteria. These include - balanced disclosure of trade-offs and outcomes; robust stakeholder engagement; strategic objectives in the short, medium and long-term; evidence of accountability and transparency. “We are delighted to have met these high standards and further encouraged to continuously challenge ourselves to meet the needs of all our stakeholders”, says financial director, Leon Kok. “This recognition stands testament to our longstanding commitment to transparency and accountability to our stakeholders and confirms that value can be created not only from financial but also from environmental and social performance”, he concludes.ENDS
19 November 2018: The Season One of The Mentorship Challenge which debuted on CNBC Africa in 2017 has won multiple awards during the year for its impactful marketing – the latest being at the prestigious 2018 Assegai Awards where it scooped gold in the Best Social Media category and silver for the Online Campaigns category. It also bagged the silver at the 2018 Prism Awards in the Sponsorship category earlier this year.Created by the JSE-listed diversified real estate investment trust Redefine Properties and hosted by the venerable Marc Wainer, the show which is currently being rebroadcast on eNCA, challenges industry titans to fuel entrepreneurial mentoring activities and contribute to making a meaningful difference in the development of young entrepreneurs.The show seeks to entrench a culture of mentorship in a skills-scarce South Africa by challenging business leaders from corporate South Africa to pledge personal time to mentor budding entrepreneurs. The show’s online platform provides the real estate for the mentors and mentees to engage and schedule time together.The show expected a modest outcome - 100 mentors pledging a total of 500 hours to a base of 1 000 mentees. At the end of season one, just shy of 200 mentors had signed up exceeding the initial target, collectively pledging over 5 000 hours between them.“We ended up exceeding our own expectations, we have just under 2 700 mentees applying for mentorship,” says Marijke Coetzee, Head of Marketing and Communications, Redefine Properties. “Many of us can identify at least one individual, be it a teacher, a colleague or even a family member who made a positive impact, the one who believed you could be better and encouraged you to achieve your potential. The Mentorship Challenge was born from that strong desire to tap into this potential amongst the youth by offering necessary guidance and support – filling a gap that not even formal education provides.”Mentoring offers the mentor an extraordinary opportunity to contribute to a mentee’s professional, business and personal growth by sharing knowledge and experience.“Millennials in the workplace and young entrepreneurs today, are very much influenced by the types of leaders they are able to observe and learn from. To that end, well-matched pairings and a clear purpose has been the cornerstone of this success,” adds Coetzee.While Global Entrepreneurship Monitor's (GEM) latest report for South Africa reveals that SA’s entrepreneurial activity is at its highest level since 2013, the Seed Academy’s State of Entrepreneurship results indicate that entrepreneurs are not thriving and dramatically more needs to be done to improve SA’s entrepreneurial ecosystem.The report further says, having a mentor aligned to the entrepreneur’s business is a key success factor. Few entrepreneurs have mentors through their enterprise supplier development (ESD) programmes yet overwhelmingly those who did, believed that the mentors added significant value to their businesses.“Entrepreneurs are the economic engines SA needs at this point in time and mentors are one of the most valuable resources to kickstart this journey.”“At minimum, mentorship should be the practice to develop leaders in all spheres of business and we take this opportunity seriously to be able to contribute to building South Africa.” says Coetzee in conclusion.Some of the local business leaders who stepped up to pledge included the likes of Taddy Blecher, Trevor Manuel, Lira, Gil Oved, Brian Joffe, Grace Harding, Lebo Gunguluza, Angus Taylor, Judge Bernard Ngoepe, Tebogo Mogashoa, Papama Ramogase, Marc Lubner, Amy Kleinhans, Anthea Ambersley, Zuki Mzozoyana, Ntando Kubheka and Rodney Berman.ENDS
Johannesburg – 5 November 2018 – Listed real estate investment trust (REIT) Redefine Properties (JSE: RDF) continues to weather challenging economic conditions by building a robust asset platform to sustain and nurture organic growth, both at home and abroad.A relentless focus on driving operational efficiencies during a tough period for markets, which were buffeted by ongoing global trade wars and SA’s first recession in a decade, saw Redefine buck the trend to achieve impressive recurring income growth of 6.9% and an improvement in overall occupancy to 95.5% for the year ended 31 August 2018.Several well-timed and value enhancing strategic investments saw property assets under management expand by R7 billion to R91.3 billion, with international real estate investments now making up 20.7% of the portfolio, from 19.0% this time a year ago.Off the back of gross distributable income growth of 8.2% to R5.2 billion – this is the first time the R5 billion mark has been breached – total distribution for the year lifted 5.5% to 97.10 cents a share, in line with market guidance. Net asset value per share recorded pleasing growth of 5.9%.“Almost every sector in the economy is under huge pressure and everyone is feeling the pinch. However, we are up for the challenge and will continue deploying capital in SA and abroad, developing properties that are well located, with strong upside potential,” says Redefine CEO Andrew Konig.Redefine remains firmly focused on broadening sustainability to remain relevant by continuously improving, expanding and protecting its domestic portfolio, unlocking value from active asset management opportunities in offshore markets and recycling capital through the sale of assets at the end of their investment cycle.“Conditions will remain challenging for the foreseeable future, despite some positive signs like the appointment of a new finance minister and commitments made to creating jobs and growth by government and the private sector. Global economies are slowing and remain unpredictable due to the US policy of raising interest rates and ongoing trade wars, with geopolitical tensions on the rise. This all impacts capital flows and general confidence. Confidence will not pick up until we see more catalysts for change,” says Konig.For Redefine, navigating the storm means phasing out non-recurring, “lumpy” income, but Konig says this must be done in a measured way through considered acquisitions over a period.He says significant focus is placed on core income growth and maintaining margins. “The leasing environment will continue to be challenging and we need to be creative, smart and optimize costs, while attracting and retaining the best staff.”Redefine remained very active on the development front during the year, with R5.3 billion deployed into total development activity – notably via an expansion into the exciting and fast-paced logistics sector in Poland.A highlight during the reporting period was the R8.9 billion being realised through the recycling of capital via the sale of secondary assets, with the Northpoint and Cromwell sales alone fetching R5.2 billion.Capital was deployed by expanding offshore through investments into a logistic platform in Poland, acquiring shares in listed EPP and developing student accommodation facilities in Australia, while locally, acquiring the remaining 50% share of 115 West Street for R751 million and developing / redeveloping and expanding well-located properties to the tune of R4.7 billion.“Given the volatile times and the economic constraints both locally and abroad, balance sheet management is critical. We placed a lot of emphasis on credit metrics and this will stand us in good stead as it is anticipated that the macro-economic environment will remain volatile,” says Redefine Financial Director, Leon Kok.Cost of debt reduced by 100 basis points to 6.3%, gearing and loan to value was lowered to 40% and interest rates were hedged on 81.2% of total debt for the reporting period.Kok says the operating cost margin improved to 33.5% of contractual rental income, with enhanced operational efficiencies leading to a total operating margin improvement to 82.3%. International property investments contributed 24% to distributable income during the year.Growth in distributable income for 2019 is expected to range between 4% to 5%.Meanwhile, several new board appointments were made during the year to broaden diversity and skills. Marc Wainer will remain Redefine’s executive Chairman until an independent non-executive Chairman is appointed. Further changes to the board, effective from 2 November 2018 include: independent non-executive directors David Nathan and Phumzile Langeni have stepped down from the board and Bernie Nackan has indicated that he will not stand for re-election at the next annual general meeting. “We thank them for their valuable contributions during their terms of office and wish them well in their endeavours,” says Konig.“Volatility can be expected to continue against a less supportive economic backdrop. We need to keep our heads up, hearts in and hands on to focus on what matters most. We continue to drive initiatives to foster a values-driven service culture, while embracing change and encouraging innovation. We believe our strategic approach is appropriate for the environment in which we are operating – but we continue to expect the unexpected,” concludes Konig.ENDS
Johannesburg - 24 October 2018 - Listed real estate investment trust (REIT) Redefine Properties (JSE: RDF) continues to enhance the depth and strength of its board with the appointment of Lesego Sennelo as an independent non-executive director from 2 November 2018.A qualified chartered accountant with vast experience in both the private and public sectors, Lesego is the immediate past President of the African Women Chartered Accountants (AWCA) Forum - which is focused on accelerating the advancement of African women Chartered Accountants.This new appointment follows those of seasoned business and accounting expert Sindi Zilwa and experienced IT professional Amanda Dambuzato, who also join the board from 2 November. Another recent leadership move saw Pieter Prinsloo being hired from Hyprop Investments to head up Redefine Europe with effect 1 February 2019."We are continuing to build our leadership team to ensure we stay a step ahead in what remains a very challenging environment. We welcome Lesego on board and look forward to her insights as we continue on our journey of creating sustained value for all our stakeholders," says Redefine CEO, Andrew Konig.Lesego's diverse professional experience includes auditing, financial management, corporate governance, strategy development and implementation, project management, investment management, business development, stakeholder management, and people management. She is also a member of the International Women's Forum (IWF), Eisenhower Fellowship, the Aspen Global Leadership Network, Africa Leadership Initiative, SAICA and the Institute of Directors (IoD).Lesego currently serves as a non-executive director on the boards of OneLogix Group Limited, Reef Tankers and Ohorongo Cement. She previously served on the boards of Sasfin Holdings Limited, AWCA Investment Holdings, Foskor, the South African Institute of Chartered Accountants (SAICA), the Limpopo Economic Development Agency (LEDA) and its subsidiaries, among others. She is the Founder and Managing Director of Gosele Advisory Services, a business advisory consultancy."Lesego's broad array of skills and experience certainly compliments our board to ensure we realise our purpose to manage and create spaces in a way that changes lives," says Redefine CEO Andrew Konig.ENDS
19 October 2018: JSE listed diversified real estate investment trust (REIT) Redefine Properties won multiple accolades at the 2018 Footprint Marketing Awards helping put its Johannesburg based malls on the national stage. An initiative of the South African Council of Shopping Centres (SACSC), the awards recognise exceptional shopping centre marketing, innovation, creative achievements, with economic success and excellent customer service. This year the awards were held at Durban’s International Convention Centre. Redefine’s Boulders Shopping Centre in Midrand took home the prestigious Spectrum Award for its “3 Hour Uncapped Free Wi-Fi” campaign in the digital marketing category. The winner is drawn from the overall winners of the Footprint Marketing Awards. During the campaign period, shoppers were able to access Wi-Fi from dedicated hotspots. On an average, the dwell time increased by 35 minutes at the mall. Redefine also received three Golds, awarded to Maponya Mall in Soweto for the Creamonaise Guinness Book of Records (longest sandwich campaign) in the sales and promotions category, Loftus Park in Pretoria for the grand opening, expansion and renovation (together with Abland) as well as for the 3 Hour Uncapped Free Wi-Fi campaign at the Boulders Shopping Centre. All Gold SACSC Footprint Marketing Awards are automatically entered into the International Council of Shopping Centres’ VIVA Awards. Marijke Coetzee, Head of Marketing and Communications says, “We are extremely proud that our efforts have been recognised against such talented competition and reflects our passion we have for our customers and tenants.”Redefine’s Matlosana and Maponya Mall won silver for Malls 4 Schools campaign in the sales and promotional events category and in the public relations category for the Creamonaise Guinness Book of Records respectively. Two Bronze awards, for Boulders Shopping Centre for the creche refurbishments campaign in the community relations category and Maponya Mall for the World Cup Trophy tour in the public relations category took the day’s tally to eight awards. Redefine also scooped the best exhibitor (large stand) award to finish with nine awards. ENDS
Johannesburg, South Africa – 10 October 2018: JSE listed diversified real estate investment trust (REIT) Redefine Properties has appointed experienced IT professional Amanda Dambuza to its board with effect from 2 November 2018. Ms Dambuza's wealth of experience within technology and information governance was a crucial match for Redefine which deepens the board's skills base and enhances its multi-disciplinary knowledge.Ms Dambuza, a highly accomplished technology executive and a seasoned entrepreneur served as Barclay Africa's CIO before venturing to start Uyandiswa, a consulting firm where she is the CEO. Ms Dambuza brings more than 18 years of experience in technology and digital disruption to the board.Uyandiswa, a firm she founded five years ago provides end-to-end project management and business consultancy services to the public and private sector in Southern Africa. She was, until recently, the Financial Services Director of JSE listed software firm Adapt IT. Ms Dambuza is a Wits University and Duke Corporate Education graduate and a certified Project Management Professional (PMP®), PRINCE2®, AGILE and ITILL practitioner.Ms Dambuza has extensive board experience and currently serves as non-executive director of MAC Consulting, CloudLeap Technologies, Dynamic Visual Technologies and Grindrod Bank where she sits on the IT Steering Committee as well as the Social and Ethics Committee."We are delighted to welcome Amanda to the Redefine board. In addition to her technology background, Amanda also brings a broad array of business experience which we believe will add significant value to the board. With her appointment, the crucial need for a non-executive director with appropriate experience in technology and information governance is fulfilled," says Andrew Konig, CEO, Redefine Properties."The appointment significantly enhances the strength and diversity of the board and we look forward to capitalising on her fresh perspective. Amanda comes to Redefine with a distinguished career and proven business leadership skills. It will be important for Redefine to leverage these attributes as we continue to execute on our strategic priorities."The new appointment takes female representation on Redefine's board to over 40%. This is a voluntary target Redefine set for itself. It has also set itself a voluntary target for 50% black representation on its board."We believe a board that is diverse is effective, accountable and better at governance leadership, making gender diversity key to creating sustained value for our stakeholders. Amanda joins us as we enter an exciting period in our business and we wish her all the best and look forward to tapping into her expertise as we execute our strategic objectives," says Konig in conclusion.ENDS
Johannesburg, South Africa – 3 October 2018: JSE listed diversified real estate investment trust Redefine Properties has appointed Pieter Prinsloo to head up Redefine Europe with effect 1 February 2019. Prinsloo arrives from Hyprop Investments where he was the CEO. “The new role was necessitated as Redefine advances its geographic diversification strategy through direct investment in Central and Eastern Europe. Pieter is a seasoned industry veteran with more than 21 years of relevant experience and is a fantastic addition to our leadership team," says Andrew Konig, CEO, Redefine Properties. “We are confident that Pieter will build on our presence in Poland and continue to expand the strong global brand that Redefine investors have come to expect. The appointment demonstrates Redefine’s strong commitment to expand its operations in Europe across different sectors.” Redefine recently acquired 95% share in a portfolio of nine operating logistics properties located throughout Poland for €185.8 million (R2.9 billion). It has also entered into a five-year exclusive priority right involving a pipeline of 24 new warehousing and logistics developments with Panattoni, a market leader in the leasing and development of logistics properties in Europe. Redefine has the right but not the obligation to acquire and develop these assets. Whilst Redefine will continue to work closely with its local partners, Pieter, who will be based in Europe, will be responsible for representing all aspects of Redefine’s interests in its European investments. Konig had said during the announcement earlier this year that the move into the rapidly expanding Polish logistics sector was an exciting opportunity to expand Redefine’s European brand by building a significant logistics platform. The Polish industrial market, which has a total supply of 13.9 million square meters of modern industrial and logistics space, is benefiting from a significant increase in demand for logistics space on the back of robust retail growth. The sector is also underpinned by strong long-term fundamentals due to recently introduced limitations on agricultural land trades, which is slowing down the development pipeline and increasing the value of zoned land holdings. Redefine late last year acquired a strategic 25% stake in Chariot Top Group for R907.9 million, giving it direct access to a retail portfolio of 28 quality, established and well-located assets across Poland. Prior to this Redefine had acquired a majority interest in EPP, marking the largest ever real estate investment transaction in Poland, as well as the largest ever single South African transaction in Central Eastern Europe. “We aim to continue making inroads into markets that offer sustained growth potential, both at home and abroad, and we welcome Pieter to this new role and look forward to the value he will bring to the table,” concludes Konig.ENDS
Johannesburg – 2 October 2018 – Listed real estate investment trust Redefine Properties continues to play a leading role in stimulating growth, opportunities and entrepreneurial development in the local economy with the launch today of two compelling initiatives that, in line with its higher purpose “to manage spaces in a way that changes lives”, build on the success of the popular The Mentorship Challenge with Marc Wainer.With South Africa facing an unemployment crisis, the corporate sector has a greater role to play in creating sustainable employment opportunities by doing things differently, while remaining relevant in order to ensure the delivery of long-term value for all stakeholders.Redefine today launched the Innovation Challenge – demonstrating how serious it is about identifying new, innovative solutions by opening up to the public (and potential future stakeholders) to submit innovative ideas within the commercial, retail and industrial space – and stand a chance to win R1million. The winner will also have the opportunity to negotiate start-up support to the value of up to R9 million in the form of either monetary support, education, commercial space or concept acquisition.“The magnitude of the prize signals not only Redefine’s commitment to fresh thinking in order to identify new, innovative solutions to address community needs, but also promises to expose finalists to opportunities, such as access to mentorship. The overall winner is given a unique chance to start a new business or advance their career,” says Redefine CEO Andrew Konig.The Mentorship show invited leaders from all industries in South Africa and challenged them to offer hours to mentor young professionals and entrepreneurs. The phenomenal response from both mentors and mentees has further stoked Redefine’s spirit of social responsibility and it is therefore taking these lessons from the studio to drive deeper community engagement through the Challenge Convention, also launched today.The convention will be held in one of Redefine’s buildings and creates a platform for two-way engagement between Redefine and all of their stakeholders in and around that space. The agenda will include a line-up of inspirational speakers, alternated with facilitated discussions where stakeholders will have the opportunity to share their thoughts, express their concerns and in a collaborative effort co-create solutions to fully integrate the local community needs into Redefine’s spaces.A live production of The Mentorship Challenge Season 2 will also be broadcast at the convention – giving all of these stakeholders exposure and the opportunity to participate in this great initiative. Invitees include tenants, key community leaders and role-players, students, young entrepreneurs and NGO’s.The Innovation Challenge competition will open for public participation at the Challenge Convention giving participants the opportunity to enter the new ideas formulated in their collaborative discussions. The first Challenge Convention will be held at Maponya Mall in Soweto in October.“The three individual concepts are connected and underpinned by the ethos: of Our People. Our places, Our way. While business can easily get caught up in the hype of new technology, the era of digitalisation, of artificial intelligence we believe we that we need to remain relevant and forward-thinking, while still considering our people in and around our properties, the spaces in which we operate, and how best we utilise them to overcome the real needs of society in a truly South African context…the Redefine way”, explains Konig.“The three concepts open the door for true collaboration between Redefine Properties and the communities in which we operate to show that we are truly vested in making a difference,” he says.This echoes Redefine’s business goals, which include developing skills and provide opportunities for future business owners who may become tenants requiring as well as developing skills and create a pipeline of future property industry professionals across the demographic spectrum.This season, The Mentorship Challenge will be filmed live to tape, with a live audience. The audience will interact with the presenters and the guest in Q&A sessions, turning the TV show into an event of its own. Season innovations include a new co-host and mentee, Seth Mulli who currently serves as the Executive Director of the Youth Bridge Trust that aims to create opportunities for young people to be successful in the workforce, develop livelihood skills and further their education, through partnerships and collaborations. The show will also be travelling on the road, and new graphics will be introduced that evolve the show look. “The pursuit of purpose is the key ingredient to a strong, sustainable and scalable organisational culture and Redefine Properties continuously strives to tailor its business approach to stay a step ahead through purposefully-enabled agility. We continue to innovate to succeed and believe that our new initiatives will help spark the type of ground-up business success to create sustainable employment opportunities,” says Konig.ENDS
Johannesburg, South Africa – 1 October 2018 – Listed real estate investment trust (REIT) Redefine Properties has appointed seasoned business and accounting expert Sindi Zilwa to its board with effect from 2 November 2018.Sindi, who is a CA(SA), holds an Advanced Taxation Certificate, an Advanced Diploma in Financial Planning and an Advanced Diploma in Banking and is well regarded in the areas of accounting, auditing and business management. She was the youngest woman to win the 1998 Business Women of the Year Award. A previous CEO of Nkonki, she has also had extensive exposure to a property owning and managing company during her 4 years on the board at Rebosis, where she also chaired the Audit Committee.She is also the author of “The ACE Model-Winning Formula for Audit Committees”, used by the Institute of Directors to train audit committee members in South Africa. Her second book is titled “Creating Board and Committee Effectiveness”.“We welcome Sindi to our team and have no doubt she will make an invaluable contribution as we embark on an exciting new phase in our journey. Redefine is managed by an exceptional and seasoned team of visionaries who have become renowned for their astute ability to look through and be ahead of property cycles and this new appointment ensures that the best minds in the industry are applied to our investment strategy,” says Redefine CEO Andrew Konig.Sindi currently sits on the board of directors of a number of listed companies and is a member of the audit committee and chair of the social and ethics committee of both Discovery Limited and Aspen Limited. She is also the chair of the audit committees of Metrofile Limited and Tourvest Limited and is a member of the audit committees of Mercedes Benz (South Africa) Limited and AngloGold Ashanti Limited. “It is through people-centricity that Redefine is able to remain finely attuned to the ever-changing needs of all our stakeholders so that we can continuously tailor our business approach to remain relevant. We wish Sindi well as we look to work together as a team to maintain our edge, while developing new avenues for growth,” adds Konig.ENDS
Johannesburg, South Africa - 03 September 2018: JSE-listed diversified Real Estate Investment Trust (REIT) Redefine Properties’ (JSE: RDF) welcomed shoppers to the new revamped Benmore Centre, Sandton’s popular neighbourhood shopping destination when it officially opened during end August. Redefine had started work on the ZAR252 million refurbishment programme during late 2016 and was completed on schedule. Established in 1964, Benmore Centre is one of the oldest malls in Sandton’s commercial neighbourhood, often dubbed the richest square mile on the continent. The updated look and feel includes an iconic skylight which allows natural light to flood all levels of the mall significantly enhancing the architectural language of the existing building. Furthermore resource efficiency has been built into the centre with energy efficient lighting, water saving taps and flushers. The centre has also installed a “green living wall” outside the new parking entrance by Woolworths and is one of the biggest of its kind in Sandton. The wall is a visual feast of lush greenery and contributes to the new look while improving air quality. This living feature wall is hydroponically irrigated and provides a landscaped entrance to Woolworths. The entire second floor was remodelled to create a “services” level by removing redundant office space to accommodate the Post Office and banking institutions like ABSA, FNB, Nedbank and Standard Bank. The two new entrances off the first and second floors will provide seamless access from the parking area to shopping levels on these floors. The revamped Benmore Centre has 22 820sqm of gross lettable area (GLA) of retail space anchored by Pick ‘N’ Pay group with 5 331sqm and Dis-Chem with 1 845sqm. Food retailer Woolworths has already relocated to a new space in the centre covering over 3 330sqm and have added Woolworths Café to their offering. Tenants that were relocated include Step Ahead, Kozi Kids, Post Net, Rain, Ala Juliette and Handmade by Bev. In its new avatar, the centre will play host to some 70 retailers with Exclusive Books, Big Blu, Wellness Warehouse, Zifferelli, Birkenstock, Motherland Coffee, Miladys, The Bagel Zone and Sorbet Man debuting for the first time in the centre. Another notable change on Benmore Centre’s dining front is the new under cover seating areas for Mio Col’cacchio, Nando’s, Simply Asia and Fourno’s. Nashil Chotoki, Retail Asset Manager at Redefine Properties says, “We are confident that this refresh will enhance the overall shopping experience for our customers and boost the trading environment for our tenants.” “Our efforts at revitalising the centre are aimed at positioning Benmore Centre for convenience to the surrounding offices and residential, offering shoppers a new, varied experience at their doorstep,” says Chotoki in conclusion.ENDS