Dipula Property Fund
Dipula Property Fund (Pty) Ltd (Dipula) is a 51% black owned and
managed property fund which was established in 2006.
The Property Fund is owned by Dijalo Property Services (Pty) Ltd
(Dijalo) and listed company Redefine Income Fund (Redefine).
The proportionate equity shareholding is 51% Dijalo and 49% Redefine.
The Dijalo shareholders are represented by Messrs Saul Nyangeni
Gumede, CPM® and Mr. Hosia Kgauane Malekane.
Gumede and Malekane have more than 25 years experience each in the
office, retail and industrial property market. They initially met
at Old Mutual Properties where they spent more than 10 years each
working on the Old Mutual Properties property portfolio. They gathered
their initial property experience at Old Mutual and have also worked
for the property division of Sefalane Employee Benefit Organisation
and Grinaker Projects respectively.
The following motivated Dijalo to establish the Dipula Property
Fund:
- Natural growth from property services to property ownership.
- Slow pace of property ownership transformation in the country.
- Limited number of black owned and managed property funds.
- The need from companies to lease space from black owned properties,
especially government and state owned institutions.
- Property ownership will enable Dijalo to give contracts and
high level working opportunities to black individuals and companies.
This will accelerate transformation of our property industry.
- To create a vehicle for effective implementation of Property
Sector Charter. I.e. to give established companies an opportunity
to meet their score card by transacting with Dipula.
- In the long run and to be in line with new legislation of Real
Estate investment Trusts (Reits), Dijalo to provide property services
to Dipula Property Fund.
All property operations, including acquisitions, sales, redevelopment,
refurbishment, day to day management and administration of properties
are done under Dipula Property Investment Trust which is 100% owned
by Dipula Property Fund (Pty) Ltd.
Currently the Dipula Property Fund is valued at R 775million with
92 properties making up the portfolio.
|
