Strong performance supports Vukile’s Italian expansion plan (opens original article in a new tab)

Vukile Property Fund expanded into Italy with a €115m portfolio, citing strong performance and growth in its South African and Iberian markets to support further European expansion.

• Vukile Property Fund entered the Italian market with a €115m portfolio of three shopping centres in Turin, Padua, and Naples.
• The company reported 9.3% growth in funds from operations and dividends per share, with like-for-like South African portfolio valuation up 12.3%.
• Vukile plans to acquire a portfolio exceeding €500m in Italy, with two further €200m acquisitions lined up at an expected 9% cash-on-cash yield.