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Vukile grows asset value by 7.6%.

Vukile, a property loan stock company, shrugged off a sluggish economic recovery to increase its full year distribution to linked unit holders by 9% and to grow its net asset value by 7.6% in the 2010 financial year.

Vukile is dual-listed on the Namibia Stock Exchange. Its local property portfolio includes the Oshakati Game Shopping Centre, Katima Mulilo Pep Stores, Katutura Checkers Centre, Ondangwa Shoprite Checkers Complex, Oskikango Ellerines, Oshakati Bears Furnishers and BPI House in Windhoek.

In its annual report, published recently, chairman Anton Botha said that the listed property sector delivered a robust performance during 2010 as illustrated by the fact that the South African Listed Property Index recorded a total return of 29.6% for the year, outperforming the other traditional asset classes. This he attributed mainly to strong demand from both retail and institutional investors as well as the listing of a few smaller funds, which caused the market capitalisation of the sector to grow over the last year from R100 billion to R120 billion.

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Title Annotation:Markets
Publication:Namibia Economist (Windhoek, Namibia)
Date:Jul 1, 2011
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