Leadership
Growthpoint Properties
He adds: “In an 18-month period interest rates went up 4.75% in South Africa; in Australia they went up from 50 basis points to 4.35%, and in Eastern Europe our cost of debt doubled from 3.1% to 6.25%. But we survived it all.”
region and South African investors have benefited from the returns.” The way ahead Recent years were the toughest property market this country has ever faced, says Estienne. “We ‘survived the eight plagues’: a bad economy, Covid, riots, floods twice in KwaZulu-Natal, electricity outages, no water in Cape Town in Day Zero, ongoing service delivery challenges and then interest rates went nuts.”
Strategically we want to get Growthpoint back on the front foot, continue expanding the business in South Africa and internationally.
Longkloof precinct precinct in Cape Town
October 2025 | Issue 141 | Asset Magazine 241
240 Asset Magazine | Issue 141 | October 2025
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