Emira invests R250m in shopping centre upgrades, acquisitions

The JSE-listed Emira Property Fund has invested over R250-million in acquiring new centres and upgrading its shopping centres to strengthen its retail assets, according to Emira CEO Geoff Jennett, who stated on Thursday that the company was investing strategically.   “Through key acquisitions and tactical upgrades, we have improved tenancies, shopper numbers and turnovers in our portfolio,” he said, attributing the success of these investments on the “solid foundation” of retailer and shopper demand. “With the pro-active asset management of our retail portfolio, we have already achieved a low retail sector vacancy of 3%. This is significantly below the South African Property Owners Association national level of 5.3%,” he added.