CANAF ESTATE HOLDINGS (SOUTH AFRICA)
In April 2019, Canaf’s wholly owned subsidiary, Canaf Estate Holdings, (“CEH”) was formed.
CEH’s strategy is to invest in properties primarily within the suburbs of the old Johannesburg CBD; an area that is benefitting from significant investment and regeneration projects. The Corporation sees investment in real estate in these suburban areas as an opportunity to acquire properties that should experience significant capital growth, whilst yielding healthy rental returns.
The vision for CEH is to acquire, refurbish and redevelop, and lease properties targeting the affordable housing market, with the goal to purchase enough critical mass to uplift the entire area, thereby growing the capital value of the properties in the area. CEH's areas of interest and investment in Johannesburg, of Bertrams and Lorentzville, are part of an urban neighbourhood referred to as 'Makers Valley', which refers to the growing presence and activities of many forms of creative entrepreneurism in the area. More information can be found here.
Canaf currently owns 7 properties (2 owned by Quantum and 5 by CEH) in South Africa with a total book value of approximately R9.7 million, as of October 31, 2022.