BRIEF – Arrowhead has insignificant exposure to African Bank

Arrowhead Properties Limited (Arrowhead), the JSE-listed SA REIT (Real Estate Investment Trust), confirms that it has insignificant exposure to African Bank Investments Limited (ABIL).

”Our income exposure to African Bank and Ellerines is around 1,3% of our billings and we do not believe that the financial situation at ABIL will have any impact on the performance of Arrowhead. The particular space pockets occupied by these entities are located in nodes in which strong levels of demand for retail space is experienced. We are confident on the prospects of re-letting these pockets should the need arise,” Imraan Suleman, Arrowhead CFO, commented.