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Bonitas properties, assets to be sold

23 Aug 2011

Bonitas, South Africa's second-largest open medical aid scheme, which was placed under curatorship after agreement was reached with the Council of Medical Schemes, is to sell its properties to free-up cash according to an article published in Business Report.

The medical scheme covers about 650 000 people in South Africa and owns several properties in KwaZulu-Natal. It was criticised for spending more on properties that had been planned when it was placed under curatorship. The properties will be auctioned this week.

The properties include a small shopping centre and apartment in Empangeni, a development site on William Nichol Drive in Bryanston, Gauteng, an office block in Hans van Rensburg Street in Polokwane among others.