Update on Arrowhead portfolio during current unrest
ARROWHEAD PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2007/032604/06)
JSE share code: AHA ISIN: ZAE000275491
JSE share code: AHB ISIN: ZAE000275509
(Granted REIT status with the JSE)
(“Arrowhead” or the “Company”)
UPDATE ON ARROWHEAD PORTFOLIO DURING CURRENT UNREST
Shareholders are referred to reports of riots and looting currently being experienced primarily in KZN and
Unfortunately, certain properties within our portfolio have been impacted as follows:
- Montclair Mall in eThekwini, KZN: There was substantial looting of shops in this Mall over the
11th and 12th of July 2021. However, the situation has been brought under control. Substantial
damage to shops and infrastructure occurred.
- Mkuze Shopping Centre in Mkuze, KZN: Shops were extensively looted on 12 and 13 July 2021.
The situation has been brought under control. Minor damage to the shopping centre infrastructure
has been reported.
- Kyalami Industrial Park in Pinetown, KZN: This Park has been the target of ongoing attempts to
break into the Park. The situation is volatile, and a small break-in did occur on 12 July 2021. With
the assistance of private security companies and SAPS, we have managed to bring the situation under
- Matsulu Shopping Centre in Matsulu, Mpumalanga: Three shops in this centre were looted on 12
July 2021. The centre has been secured by private security companies and community members and
the situation is being closely monitored.
- Maverick Corner, in Maboneng, Johannesburg CBD: This building suffered limited damage on
11 July 2021. This was contained to a few broken windows.
The remaining 115 assets in the portfolio have been unaffected. The Company has however taken a strategic
decision to close retail centres, industrial and office parks where these are deemed to be high risk and they
will be reopened once safe to do so.
Arrowhead’s hands-on approach to its property management continues and we are accessing all available
resources to ensure that lives are not endangered and that damage to our properties is averted, or where this
is not possible, limited. Security resources across all nine provinces have been increased and this is being
We have engaged extensively with our insurers and continue to do so, and we are satisfied that the Group’s
property portfolio is comprehensively and adequately insured for any loss.
The Company has benefited from the support of local communities and other stakeholders with whom the
Company has built strong relationships. Arrowhead wishes to express its gratitude to all its staff, property
managers, tenants, partners, local communities and other stakeholders who have worked tirelessly in
safeguarding and protecting Group assets as well as our personnel and that of our tenants.
Shareholders will be updated as further information becomes available.
14 July 2021
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 14-07-2021 04:55:00
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