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Johannesburg - Liberty Properties said on Tuesday that property remained a positive inflation hedge.
Commenting on the year-end performance of Liberty's property portfolio, chief investment officer Sean Segar said: "Our total gross return of 11.91% is pleasing, particularly in the context of a slow recovery."
He said Liberty had outperformed its 2009 return and had comfortably beaten inflation, which is at 3.5%.
"Beating inflation by 5% per annum over any five-year rolling period remains the key portfolio objective we strive to achieve for our investors," he said.
Segar said the results had much to do with a particularly active year on the construction front.
"(Last year) really saw us put the fund's capital to work with the completion of two new hotels - Stay Easy Liberty Midlands Mall and Umhlanga Garden Court - as well as a Liberty regional office in Umhlanga.
"Perhaps the most satisfying project of 2010 is the recently refurbished and extended Liberty Promenade in Mitchells Plain in the Western Cape," Segar said.
"Perhaps the most satisfying project of 2010 is the recently refurbished and extended Liberty Promenade in Mitchells Plain in the Western Cape," Segar said.
