Real Estate Investor Magazine South Africa March/April 2019 | Page 39

COMMERCIAL
FLANAGAN & GERARD
Paul Gerard, Managing Direc-
tor of Flanagan & Gerard, said,
‘Throughout the festive season
it was clear that consumers were
discerning in their purchases. Even
so, our shopping centre portfolio
delivered positive performance,
which indicates some confidence
for 2019.’
Over the two months final months
of 2018, total turnover in the Flana-
gan & Gerard portfolio of shopping
centres was five 5% higher like-
EMIRA PROPERTY
Geoff Jennett, CEO of Emira
Property Fund, the group’s inter-
national and residential strategies,
which are well progressed, are
helping Emira to counter the effects
of challenging local conditions and
an uncertain political economy that
is impeding growth. The diversified
REIT reported a 3.1% year-on-year
increase in distributions for its
half-year ended 31 December 2018,
improving its distribution growth.
SANDTON CENTRAL MANAGE-
MENT DISTRICT
‘Mixed-use development is on the
rise in Sandton Central. This pleas-
ing trend encourages a healthier
lifestyle and supports greater
personal balance by creating a live,
work and play environment,’ says
Sandton Central Management
District (SCMD) City Improve-
ment Manager Elaine Jack.
‘We are also seeing more residential
buildings being developed in Sand-
FINANCING
for-like than in 2017 with its top
performing mall growing turnover
by 18% over December.
The group developed and co-owns
Ballito Junction Regional Mall in
KwaZulu-Natal as well as Morning-
side Shopping Centre, Springs Mall
and Vaal Mall in Gauteng, together
with Highveld Mall and Middelburg
Mall in Mpumalanga, Thavhani Mall
and Mall of the North in Limpopo.
Its respected track record includes
an even higher number of retail
properties developed for other
leading investors.
Jennett comments: ‘Shifting a
fund is easier said than done, but
we have successfully repositioned
Emira. We have set strategies and
stuck to them. This sharp focus has
delivered good results and helped
to push our dividend growth higher
despite the persistently tough local
trading conditions throughout the
period.’
ton Central in line with the City of
Joburg’s vision to create accessible
living spaces closer to economic
hubs,’ says Jack. 
Flexibile workspace is another
revolution which is being seen in
Sandton Central and around the
world. According to international
real estate company CBRE, the
global market for flexible offices
has tripled in size since 2006 and is
growing at around 13% each year.
SA Real Estate Investor Magazine MARCH/APRIL 2019
37