Dipula: New deals expand value of portfolio

DIPULA Income Fund has bought the Umzimkhulu shopping centre in KwaZulu-Natal and Corporate Industrial Park in Polokwane for a total of R336 million. The listed real estate investment trust acquired the 28 000 square metre Corporate Industrial Park in Limpopo’s capital for R143m and 15 740m2 Umzimkhulu shopping centre for R193m. Both transactions are subject to conditions, including the approval of the competition authorities. The acquisitions will increase the value of Dipula’s portfolio to R5.7 billion. Izak Petersen, Dipula’s chief executive, said the acquisitions met its strategy of acquiring portfolio-enhancing assets in its chosen markets. Dipula’s B-shares closed 13.64 percent higher at R12.50. – Roy Cokayne