It’s a fair question and one more investors are starting to ask.

In South Africa, that’s been compounded by power constraints, shifting work patterns and uneven performance across regions and sectors.

At the same time, listed property shares have moved sharply, leaving many investors trying to separate short-term market reactions from long-term fundamentals.

So where does property actually stand in 2026?

In our recent webinar with Growthpoint CEO Estienne de Klerk, we unpacked how one of South Africa’s largest property groups is navigating this environment - and how it’s thinking about the road ahead.

Watch the full discussion below:

A property sector shaped by constant disruption

Over the past few years, the listed property sector in South Africa has faced a series of significant challenges. From the impact of COVID-19 and civil unrest to floods, ongoing power constraints and a sharp interest-rate cycle, the environment has been anything but stable.

Estienne de Klerk refers to this period as the industry’s “Eight Plagues” - a phrase that captures just how persistent and varied these pressures have been.

Recent coverage in Currency reinforces this reality. While certain parts of the market, such as retail, have shown resilience, others - particularly Gauteng’s office sector - continue to face structural challenges. Against this backdrop, property groups have had to adapt their strategies to remain competitive and relevant.

How Growthpoint is positioning for the long term

In our conversation, Estienne provided insight into how Growthpoint has navigated this environment and how the business is positioning itself for the future.

A central theme was diversification. By maintaining exposure across both South African and offshore markets, Growthpoint has been able to balance regional cycles and reduce reliance on any single segment.

At the same time, the composition of the portfolio continues to evolve. Logistics properties are playing an increasingly important role, reflecting broader shifts in demand and economic activity.

From buildings to precincts: a shift in thinking

Growthpoint’s strategy extends beyond individual properties.

The focus is increasingly on precinct development - creating and managing integrated environments that deliver long-term value. The V&A Waterfront, valued at approximately R14 billion, is a clear example of this approach.

Rather than thinking in isolated assets, the strategy is to build ecosystems that attract tenants, visitors and sustained economic activity over time.

Renewable energy as a commercial advantage

Energy has become a central part of property strategy in South Africa.

Growthpoint’s investment in renewable energy is not framed as compliance, but as a commercial decision. Reliable, cost-effective energy improves tenant retention, reduces risk and enhances asset quality.

As the energy landscape evolves, solutions like energy wheeling point to a future where property companies play a more active role in managing their own infrastructure.

The role of technology and AI in real estate

Technology is also beginning to shape how property businesses operate.

Growthpoint is exploring how automation and AI can improve efficiency, enhance tenant experience and support better decision-making. The shift is gradual, but meaningful - focused on practical improvements rather than hype.

What this means in a more uncertain world

In times of global uncertainty - whether driven by economic shifts, geopolitical tension or local challenges - markets tend to react quickly.

But businesses evolve more deliberately.

What stands out from this discussion is not a prediction of where the market is going, but how Growthpoint is positioning itself:

• maintaining a strong balance sheet
• diversifying across markets and sectors
• investing in long-term, high-quality assets
• adapting to structural changes

So, is property still a good investment in 2026?

The answer isn’t a simple yes or no.

But understanding how large, diversified players are navigating the cycle provides useful context.

If property forms part of your portfolio - or you’re considering it -this conversation offers a clearer view of the strategy behind the assets.

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