Liberty plans to raise R4 billion capital on listing its property portfolio on the JSE as a R10bn real estate investment trust.
In August, Liberty announced its intention to list a portion of its existing Liberty Property Portfolio on the JSE as a REIT. The listed portfolio will comprise interests in iconic property assets including Sandton City, Eastgate Shopping Centre, Nelson Mandela Square, Liberty Midlands Mall, Liberty Promenade and Melrose Arch. The R4 billion capital intended to be raised on listing will be re-invested to grow the portfolio of iconic assets.
At the recent South African Council of Shopping Centres’ (SACSC) conference, a number of these properties received awards, with Sandton City winning the coveted Spectrum Marketing Award, as well as three gold and one silver footprint awards.
Not to be outdone, Liberty Promenade won a silver footprint award and Nelson Mandela Square a bronze footprint award. The new Tashas Restaurant at Nelson Mandela Square took home a Retail Design Development Gold Award for the Best Restaurant Design.
These awards recognise exceptional shopping centre marketing, innovation and creative achievements, together with measurable outcomes, and are judged against global standards.
Additionally, the Eastgate Shopping Centre recently received an award from the Southern African Institute of Steel Construction following its refurbishment project which was completed in July 2016.
The 4 star green rated Atrium on 5th, an office block in the Sandton City complex, recently won another award from the Green Building Council South Africa.
These recent awards affirm the quality and strength of the portfolio that we are looking forward to bringing to market through the Liberty Two Degrees IPO.