|% From 52WK High||-15.38% ( 650 )|
|% From 52WK Low||3.77% ( 530 )|
|Business||Tower Property Fund Ltd is a property investment fund company that is structured as a REIT, which engages in owning retail office and industrial properties. It operates through the following segments: Retail, Office, and Industrial....Read More|
|Market Cap||R 1,867,523,059|
|P/E Ratio||9.45||Dividend Yield||SUB REQUIRED|
|Offshore Earnings Component||Not available|
|30/08/2019||TOWER PROPERTY FUND LIMITED - Availability of integrated annual report and Broad-Based Black Economic Empowerment annual compliance report|
|30/08/2019||TOWER PROPERTY FUND LIMITED - Dividend declaration: tax treatment and salient dates|
|30/08/2019||TOWER PROPERTY FUND LIMITED - Summarised audited consolidated annual results for the year ended 31 May 2019|
|20/08/2019||TOWER PROPERTY FUND LIMITED - Update on refurbishment of Cape Quarter and Napier Streets and the disposal of the Meadowbrook Distribution Centre|
|28/02/2019||TOWER PROPERTY FUND LIMITED - Unaudited condensed consolidated interim results for the six months ended 30 November 2018|
|28/01/2019||TOWER PROPERTY FUND LIMITED - Update on asset management initiatives|
|04/12/2018||TOWER PROPERTY FUND LIMITED - Change in the nature of an associates holdings of the companys securities|
|Tower Property Fund is an internally managed company which owns a R5.2 billion portfolio of 51 high quality commercial, industrial and retail properties as at 30 June 2016. The properties are located in South Africa as to 69% [Western Cape (27%), Gauteng (32%), Kwa-Zulu-Natal (10%)] and Croatia 31%. Flagship properties in the portfolio include Cape Quarter, the landmark retail and office building in De Waterkant, Cape Town, VMD Kvart Block B, the premium grade office property in Zagreb, Croatia, Link Hills Shopping Centre in Kwazulu-Natal and Upper Grayston Drive Office Park in Sandton. The Group is managed by a highly experienced and respected property team. The Group internalised its asset management function in line with international best practice, in June 2016. Management and shareholders are now fully aligned as there is a perception in the market that external management creates drivers for growth which are not aligned with shareholders' interests.
Tower became South Africa's first new real estate investment trust (REIT) to list when the Group made its debut on the JSE Limited in July 2013.
Tower is committed to a strategy of "greening" to increase the competitiveness and values of buildings in the portfolio. The founders of Tower were the founder members of the Green Building Council of South Africa. The Group is of the firm belief that unless property owners begin to retrofit the properties from a green perspective, those properties will become obsolete over time.
The focus of the greening strategy is on improving energy efficiency which serves to reduce operating costs and lower carbon footprints, making properties more valuable and marketable to prospective tenants.