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Update On Key Reinstatement Dates Relating To Fairvest Properties Impacted By Civil Unrest
FAIRVEST PROPERTY HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1998/005011/06)
Share code: FVT,
ISIN: ZAE000203808
(Approved as a REIT by the JSE)
(“Fairvest”)
UPDATE ON KEY REINSTATEMENT DATES RELATING TO FAIRVEST PROPERTIES
IMPACTED BY CIVIL UNREST
Fairvest refers to its SENS announcement of 15 July 2021, which provided an update on the
impact of the recent civil unrest on its portfolio, and wishes to update shareholders on the
progress made to date and reinstatement timelines for the properties affected.
During the period of unrest, twelve of 43 properties were impacted mostly by damage to shop
fronts, roller shutter doors and fixtures and fittings. All 31 other assets in the portfolio across
the country were not impacted and have remained open and operating normally.
Replacements for all shopfronts and roller shutter doors damaged across the properties have
been procured, including all necessary plate glass, with installations and repairs expected to
be completed between 22 July and 15 August 2021, other than a 1500m² warehouse at
Richmond Shopping Centre and roofing repairs at one of the seven buildings in the Bara
Precinct, affected by fire damage.
All major grocery anchor tenants have communicated their intention to commence trading
within the afore-mentioned timeline with several stores expected to commence trading as early
as 26 July 2021.
Fairvest has insurance in place for all losses and damage, including through SASRIA. Most of
our tenants also have similar cover in place.
We express our sincere appreciation to all our on-site centre management, staff, security
providers and suppliers for their commitment and dedication in ensuring that losses were
contained as far as possible, and that repair work got underway quickly to enable tenants to
restart operations.
Fairvest welcomes the deployment of the SANDF and SAPS to affected areas and also wish
to thank those community members who have volunteered to assist in clean-up operations.
Stakeholders will be kept informed of further developments.
Cape Town
23 July 2021
Sponsor
PSG Capital
Date: 23-07-2021 01:30:00
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