Llisted since 2003, Emira Property Fund has evolved into one of South Africa’s mid-sized diversified REITs. Emira has built a portfolio across retail, office, industrial, and residential assets. The company has also strategically ventured beyond domestic borders with investments into the USA and Poland to mitigate local market risks and capitalise on global opportunities that provide a counterbalance to the economic volatility of the South African market. In addition Emira continuously monitors its asset portfolio, divesting from underperforming properties and reinvesting the proceeds into higher-quality assets. Emira’s core strategy is centered on balanced portfolio diversification and capital recycling. The fund acquires high-quality, well-located properties to generate steady and recurring rental income while maintaining a strong focus on preserving and growing its distributable income for shareholders. The company is undervalued at present. Emira’s outlook is one of steady, incremental growth, supported by a de-risked and diversified asset base. Emira’s diversification into the USA and Poland provides growth, and a buffer against local volatility. Overall, Emira offers a balanced risk-reward profile, with a solid income-producing property portfolio in SA, enhanced by strategic offshore stakes that could fuel above-average growth and long-term value creation.