A retail weighted REIT that is growing, improving and de-risking its portfolio through employing a range of value-add strategies including acquisitions, leasing, conversions, extensions, redevelopments, partnerships and development.
We are focused on our chosen property market segments and continuously reposition our portfolio in-line with changing market dynamics.
OUR TOOLS
A
Good
Research
Balance
sheet
competent
capital
and
Focus
manage-
core team
allocation
analysis
ment
Pre-closebusiness update for the period ending 31 August 2022
4
BUSINESS UPDATE
UPDATE
OPERATIONAL PERFORMANCE
Year-to-dateperformance in-line with guidance
Average monthly collections over 11 months amounted to 98% (September 2021 to July 2022)
Disposals of R69 million of which R32 million have transferred (March 2022 to July 2022)
Reduction in residential, industrial and retail vacancy and increase in office vacancy since February 2022
Portfolio vacancy at July 2022 9.8%, excluding residential (Feb 2022:9.3%, July 2021:7.6%)
RIOTS
Dobsonpoint will be fully trading by the end of September 2022
Total settlement amount inclusive of material damage and loss of income equal to R99 million, R52 million received to date
SASRIA settlement expected imminently
UPDATE
COVID-19
Covid insurance claim negotiations are ongoing
DEBT FUNDING
R1.2 billion of debt refinanced at a weighted average margin of 2.3% and an average length of 3 years
Debt facilities of R500 million in the process of being renewed
R420 million due for refinancing in FY2023
Current interest hedge at 75%
Gearing expected to range between 37% and 40%
Negotiating to increase debt funding sources
GCR credit rating upgraded to long-term BBB+(ZA) and short-term A2(ZA) with a stable outlook ( 12 August 2022)
Pre-closebusiness update for the period ending 31 August 2022
5
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Dipula Income Fund Ltd. published this content on 30 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2022 11:49:05 UTC.
Dipula Income Fund Limited specializes in owning and managing real estate assets located in South Africa. Rental income breaks down by type of assets as follows:
- commercial premises (61.2%);
- offices (17.8%);
- industrial sites (16.6%);
- residential units (4.4%).
At the end of August 2023, the group's portfolio, consisted of 170 buildings with a leasing area of 885,612 m2, amounted, in market value, to ZAR 9.8 billion.
DIPULA INCOME FUND LIMITED 
