13 Jul - 2 min read

SA Corporate - Properties damaged during unrest in Kwazulu-Natal and Gauteng

SA Corporate - Properties damaged during unrest in Kwazulu-Natal and Gauteng

SA Corporate Real Estate Limited
(Incorporated in the Republic of South Africa)
(Registration number 2015/015578/06)
Share code: SAC ISIN: ZAE000203238
(Approved as a REIT by the JSE)
("SA Corporate" or “the Company”)

SA CORPORATE - PROPERTIES DAMAGED DURING UNREST IN KWAZULU-NATAL
AND GAUTENG

Shareholders are advised that several of SA Corporate’s retail shopping centre properties
have suffered various degrees of damage due to criminal actions perpetrated by persons
participating in the unrests in Kwazulu-Natal and Gauteng over the past few days.

To date, the following properties in Kwazulu-Natal have been affected by extensive looting
and associated damage:

-   Umlazi Mega City and adjacent property (75% owned)
-   Springfield Value Mart
-   Pine Walk Centre
-   Davenport Square

In Gauteng, the extent of looting and damage was relatively minor compared to that suffered
in Kwazulu-Natal, with the following properties affected:

-   Hayani
-   Johannesburg Shopping Centre
-   Khan Corner
-   Normandie Court
-   Queens Court
-   Springbok
-   Greatermans

Reports indicate that none of the Company’s residential properties have been affected.

SA Corporate continues to work closely with local law enforcement, security providers,
property managers and other relevant parties to maintain the safety of customers and tenants
and to protect SA Corporate’s properties during this volatile time.

The Company has been in contact with its insurers and has SASRIA riot insurance in place to
cover its assets and loss of rental. Management is currently assessing all impacted properties
with the respective tenants and insurers to quantify the damage suffered and to manage clean-
up and repair efforts.

The Company will continue to update the market as matters develop further.

13 July 2021
Cape Town

Sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 13-07-2021 04:18:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.
Information on this Website is provided for general information purposes only and is not a substitute for professional advice. ASX Information (including company announcements and prices) is delayed by at least 20 minutes. JSE Information (including company announcements and prices) is delayed by at least 15 minutes. Reliance on the information you access on or from this Website is solely at your own risk. We make no representation or warranty in relation to the future performance of the companies that appear on this Website. Investment in securities involves risk and you should obtain independent professional legal, financial, investment or company advice before acting on any of the information you access on this Website. Using, browsing or otherwise accessing this Website is subject to our Terms and Conditions and our Privacy Policy.

© 2021 Listcorp. ABN 60 166 140 307

Never miss news from SA Corporate Real Estate Fund Limited (JSE:SAC) when you join Listcorp.