Pre-close operational update – Trading density and footcount in Hyprop’s properties increased by 8.59% and 3.46% respectively over a five-month period till May, mainly due to inflation. Tenant demand remains strong, with low vacancy rates and rent reversions of 10.1% over 11 months (down from 12.8% previously), influenced by load shedding and concerns over South Africa. Retail property owners in Eastern Europe are experiencing positive growth, with trading density and footcount increasing by 18.74% and 13.80% respectively over five months. Hyprop maintains a loan-to-value ratio of 37.2%. Results for the year ended 30 June 2023 are due to be released in September 2023.
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