Rising municipal costs, which have been growing at 10% a year, coupled with a tough retail environment, are making business tough for fundAccelerate Property Fund says a tough retail environment and rising costs of doing business will see its dividend shrink in 2019 .
The company is predominantly a retail fund, with shopping centres providing 67% of its revenue. The majority of its retail exposure, or 64% of retail by revenue, is located in the Fourways node.about 200,000m² of gross lettable area upon completion and the positive impact of this super-regional centre on the Fourways node and the fund cannot be overstated. The development remains the key priority of the fund and management,” said Costa.
He said costs had been well controlled considering the operating environment that South African retail landlords operated in but that municipal rates and taxes were still rising too quickly and by too much.
. Is this entire article written by AI? It has more mistakes than the NEC!?!?
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