15 Jul - 2 min read

Impact Of Civil Unrest On Fairvest’s Portfolio

Impact Of Civil Unrest On Fairvest’s Portfolio

(Incorporated in the Republic of South Africa)
(Registration number: 1998/005011/06)
Share code: FVT ISIN: ZAE000203808
(Approved as a REIT by the JSE)


In this announcement, Fairvest provides an update on the impact of the recent civil unrest on its portfolio.

Twelve properties across KwaZulu-Natal and Gauteng have been affected. The extent of the damage to
these properties is still being assessed, but is mainly limited to shop fronts, roller shutter doors, fixtures and
fittings. Richmond Shopping Centre and Bara Precinct have been partially burnt, affecting a small percentage
of their gross lettable area.

Fairvest has deployed additional security measures at its properties and is closely monitoring them across
the entire portfolio. Clean-up operations are already underway and in some instances Fairvest was pleased
to receive support from local communities. All 31 other assets across the country are expected to remain
open and operate normally.

Fairvest has insurance in place for losses and damage, including through SASRIA. Most of our tenants will
also have similar cover in place. In addition, loss of rental and security costs relating to imminent danger are
also insured. Fairvest has engaged with its insurers and SASRIA has given the insurance companies
authority to appoint assessors on their behalf to act efficiently.

Fairvest continues to work with all stakeholders to ensure safety and security across its operations and looks
forward to seeing effective actions from the authorities to bring the situation under control as soon as possible.

Further updates will be provided as the situation evolves.

Cape Town
15 July 2021

PSG Capital

Date: 15-07-2021 03:15:00
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