- Vukile Property Fund has secured R1.1bn of funding through an innovative green loan and sustainability-linked loan with Absa.
- The loans, which are refinancing existing debt facilities and will be specifically directed to Vukile’s solar PV project and linked to its sustainability targets.
Laurence Rapp, CEO of Vukile Property Fund, comments, “This sustainability-linked loan is a first for Vukile and represents a significant milestone in our ongoing commitment to sustainability.”
Vukile is committed to advancing its positive impacts through renewable resources, water-saving initiatives and education of property professionals, in line with its well-defined business strategy, based on the belief that thriving communities create successful shopping centres.
As a specialist retail REIT, Vukile was developed on the foundation of a well-defined, specialised growth strategy, with a focus on owning dominant retail assets across South Africa and Spain. Vukile’s assets are valued at around R40 billion, with 40% in South Africa and 60% in Spain. The Spanish assets are held in the 99.5% Vukile-owned Madrid-listed subsidiary, Castellana Properties Socimi. Vukile adopts a proactive approach to asset management and a strong focus on customer centricity as the driver of stakeholder value creation.
Author: Bryan Groenendaal
