In conversation with Marlene Pillay
STANDARD BANK
This forward-looking approach requires both banking expertise and deep property knowledge. “You cannot only know financial metrics. You need to understand property fundamentals such as rental yields, vacancies and escalations. That is why we built a team of investment bankers with property specialism. They are all-rounders.” Real estate as a mirror of the economy One of the key insights Marlene has gained in her five years in real estate is its profound connection to the broader economy. “Real estate is so representative of the economy
By 2024, it accounted for almost 28% of listed property portfolios, overtaking office at 25%. Demand for logistics, last-mile distribution and warehousing continues to grow, making industrial a core focus for investors. Retail, meanwhile, is being reshaped by e-commerce. Physical centres remain relevant, but they now need to integrate digital and physical experiences. Marlene points to the rise of urban malls linked to transport nodes, which match spending habits and address safety concerns.
Office property has been under pressure, but Standard Bank still supports selective projects. Marlene explains, “It does not mean you do not bank office. It means you bank it differently.” Strong tenants and sound fundamentals remain the basis for financing in this sector. Residential property is set to expand, with affordable housing presenting one of the largest opportunities. Marlene has scaled up her team’s focus on residential across South Africa and the continent, positioning Standard Bank to capture growth in this segment. “Residential is underdeveloped at the moment,” she says. “There is a great opportunity, particularly in affordable housing.”
How Standard Bank balances risk and opportunity Marlene emphasises Standard Bank’s role in balancing risk and opportunity across asset classes. The bank is keen on financing deals across the property industry’s value chain. She explains, “Our mandate is not to be limited. It is about balancing short-term performance with long-term portfolio construction. You need resilience in your portfolio. That means staying ahead of markets and being predictive.”
Residential property is set to expand, with affordable housing presenting one of the largest opportunities.
Mama Shelter residences in Bree Street, Cape Town
October 2025 | Issue 141 | Asset Magazine 151
150 Asset Magazine | Issue 141 | October 2025
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