Vukile Property Fund posts 6% rise in distributable income

Commercial property group Vukile Property Fund, which owns malls in SA and Spain, said its full-year distribution per share or funds from operations rose 6%.

Vukile is among those few property companies in South Africa that focus on building shopping malls in primarily rural and lower-income areas of the country.

The group increased its total dividend for its 2023 financial year and expects it to grow further in its new financial year amid lower-than-expected pressure on consumers over the past 18 months.