Real estate investment trust Redefine Properties has said its improving property fundamentals are translating into a tighter guidance of 6.5% to 7% growth in distributable income per share for this year, despite continued macroeconomic volatility.
With distributable income growth expected to be at the upper end of guidance for this financial year, Redefine noted during a capital markets day on August 26 that it believes the combination of disciplined capital allocation, proactive sourcing of capital, operational efficiency and targeted investment is creating a more durable growth platform.
Redefine’s see-through loan-to-value ratio improved from 47.3% at the end of the 2025 financial year to 45.1% by the third quarter of the current financial year, while ongoing efforts to simplify its Polish joint ventures (JVs) and recycle noncore assets are expected to support further improvement over time.
The group has also continued to broaden its funding base, refinance debt on more favourable terms and improve debt margins across both its South African and Polish operations.
Green funding now accounts for about 38% of total group debt, while reduced funding margins are contributing to meaningful savings and improved earnings quality.
