For sale: Dozens of malls and other properties, owned by government’s pension fund

Commercial properties are hot property as the PIC looks to strengthen its AUM. Photo by: Peter H - Pixabay

The original article can be found here.

Article highlights:

– The Public Investment Corporation (PIC), which manages civil servant pension funds plans to sell 70 properties which include shopping malls and commercial buildings;

– First on the chopping block: Edcons former training facility, two shopping malls in Cape Town and Durban;

– “Proceeds from the sale will be invested in other opportunities,” says PIC Spokesperson;

– PIC has over R1,9 Trillion in assets under management;

– PIC wants to sell properties in two tranches.