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 student and 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.
Canaf currently owns 3 properties (2 owned by Quantum and 1 by CEH) in South Africa with a book value of approximately R4.1million, as of Jan 31, 2021.