Financial Digest

Delta Property Fund hopes to have turned a corner

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Government landlord needs tenants to agree to long term leases in order to forecast its rentals more accurately and to get finance from banks at better rates

Government landlord needs tenants to agree to long-term leases in order to forecast its rentals more accurately and to get finance from banks at better ratesDelta Property Fund CEO Sandile Nomvete. Picture: ROBBIE TSHABALALA

The company's share price climbed around 4% on Monday after the announcement, as it began to claw back the near 60% it has shed so far in 2019. It closed 5.49% higher at R1.92 on Monday, but down 57% for the year. As a result, Delta tended to pay relatively high interest rates on the debt it raised, compared with its peers in the listed property sector, because it was unable to provide clear lease profiles to banks.

 

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