NEF makes rare move into property, The New Age
NEF makes rare move into property, The New Age
The embattled fund invests R23.3m in the new Willowvale Shopping Centre THE National Empowerment Fund (NEF) has displayed an appetite for the commercial property market by participating in the development of the 3 000m2 Willowvale Shopping Centre in the Eastern Cape. Launched last week, the new shopping centre, 90km from Idutywa and 80km from Butterworth, was developed with 15% equity participation (R23.3m) by the NEF. The investment displays a rare participation of a development finance institution in fixed property investment and yet there is a great need for such institutions to facilitate empowerment in capital heavy property investments.
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