How Property Fund Start-Up Rebosis Property Fund Became The First Black Owned Property Fund To Be Listed On The JSE

How Property Fund Start-Up Rebosis Property Fund Became The First Black Owned Property Fund To Be Listed On The JSE. Rebosis Property Fund Ltd was established by the Billion Group in 2010 and on 17 May 2011 became the first black-managed and substantially black-held property fund to be listed on the JSE. On 24 July 2013, the Fund was approved as a Real Estate Investment Trust (REIT).

The Fund’s portfolio primarily consists of early stage, regionally dominant shopping centres and large, single-tenanted commercial offices in nodes attractive to the South African government providing a sovereign underpin.  JSE main board listed Rebosis Property Fund provides investors with access to an R17.5bn portfolio of predominantly large, defensive retail malls located in key economic nodes across South Africa. Despite its considerable size, Rebosis’ portfolio consists of 43 properties currently, allowing for focused approach when it comes to cost savings initiatives, tenant optimisation and lease renewals, improving the overall quality of the Fund.

Rebosis is a JSE listed real estate investment trust (REIT) with a high quality diversified portfolio across commercial and retail assets. The majority of the commercial income enjoys a sovereign underpin from leases to national government departments across 36 buildings.  Its retail portfolio has a mix of shopping centres including Port Elizabeth (Baywest Mall) and Centurion (Forest Hill City).

Sisa Ngebulana founded the Billion Group in 1998 and Rebosis in 2010. Sisa has won various awards such as the Entrepreneur of the Year Award (2006), the pioneer award (2014) and the African Business Excellence (2014).  An admitted attorney of the High Court of South Africa, he practised with Jan S de Villiers Attorneys in commercial litigation before joining Eskom for seven years as legal counsel specialising in property and finance.

He is a past president of the South African Council of Shopping Centres (SACSC) and has been a director of the Attfund group, Truworths International and the Construction Industry Development Board (CIDB).  Sisa has single-handedly developed a number of regional shopping malls in SA, including Hemingways Mall, Forrest Hill City, Mdantsane City, B.T. Ngebs City and with Abacus Bay West City in Port Elizabeth.

By Thomas Chiothamisi

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