LP Company

About Us

​Lighthouse is domiciled in Malta and listed on the Main Board of the JSE with a secondary listing on the A2X exchange. The Group invests directly and indirectly in dominant and defensive malls located in large and mid-sized cities with strong economic support and growth.

Countries

Cities

Gross Lettable Area

Shareholders Analysis as of 31 December 2023

Lighthouse Properties Shareholders Analysis 2024

Strategy

PURPOSE

To provide shareholders with a stable investment opportunity that enables sustainable value creation.

INVESTMENT CRITERIA

We invest in direct real estate investments with the following key characteristics:

  • Dominant malls
  • Large and mid-sized cities with strong economic support and growth
  • Located predominantly in Western Europe
  • Malls that are occupied by high-quality tenants
  • Malls that produce strong sustainable income
  • Malls that provide asset management opportunities

Management and Board

Executive Directors

Justin Muller

Chief executive officer

Justin Muller

Chief executive officer

CA(SA)
(South African – based in the Netherlands)
Date of appointment: 13 May 2019

Justin completed his articles at FirstRand Bank Limited in 2008, where after he transferred to the Rand Merchant Bank Real Estate Investment Banking division. He spent two years as a real estate credit analyst and then three years as a real estate structured finance transactor, focusing on development finance and portfolio lending to the listed property sector. He joined Resilient REIT Limited (“Resilient”) in 2013 with an emphasis on acquisitions, transaction structuring and developments in Africa.

Justin joined Lighthouse in 2019 and was appointed as Chief Executive Officer in July 2021.

Jacobus van Biljon

Chief financial officer

Jacobus van Biljon

Chief financial officer

CA(SA), CFA, CAIA, CGMA, MSc Finance
(South African – based in the Netherlands)
Date of appointment: 16 August 2017
Listed company Directorships: One
Committee: Risk

Jacobus commenced his career at KPMG in Johannesburg, completed his articles in 2003 and focused on the banking and real estate sectors. In 2006, he transferred to KPMG in New York City where he spent several years as advisor and consultant to global real estate, private equity and other alternative asset management firms. He joined Rockcastle in 2014, initially working on Zambian and Polish retail property investments. In March 2015, he joined the Resilient Africa team in Lagos, Nigeria as Chief Financial Officer. He joined Lighthouse in 2017.

Edward Mc Donald

Chief operating officer

Edward Mc Donald

Chief operating officer

CCIS, MAP
(South African – based in Malta)
Date of appointment: 18 October 2021
Listed company Directorships: One
Committee: Social and Ethics

Edward started his career at Barclays Bank in 1982 and later moved on to Syfrets and Nedcor Investment Bank. He joined Imperial Bank in 2003 and was transferred to KwaZulu-Natal as the Regional Manager of their property finance division.

In 2009, Imperial Bank was purchased by Nedbank and he decided to pursue his own interests as a consultant in the retail property industry. He joined Resilient Africa Proprietary Limited (“Resilient Africa”) in May 2014 as Chief Operating Officer and was appointed Chief Executive Officer in 2016 after a Group restructure. He joined Lighthouse in October 2021.

Non-executive Directors

Mark Olivier

Independent Chairperson

Mark Olivier

Independent Chairperson

CA(SA)
(British – based in Mauritius)
Date of appointment: 28 June 2016
Listed company Directorships: Four
Committees: Nomination (Chairperson), Investment and Remuneration

Mark has over 25 years’ experience in managing debt, property and private equity assets and providing corporate finance and strategic advice, predominantly to public companies in the UK.

Prior to founding Hibridge Capital UK Limited (a London-based, boutique private equity and advisory business) in 2003, he was a shareholder and employee of Hawkpoint Partners UK Limited, which was previously the corporate finance division of NatWest Markets Limited. He worked for BoE Limited, where he served on the Executive Committee of the Group’s international business headquartered in London and worked at KPMG as a manager in their London offices.

For over 12 years he has managed a closed ended fund investing in affordable, residential properties located in central London and rented predominantly to local councils. He is currently the Chairperson of African Rainbow Capital Investments Limited which is listed on the Main Board of the JSE. He is also an Independent Director of CIE Immobilière Limitée listed on the Stock Exchange of Mauritius (“SEM”).

Previously, Mark was the Chairperson of Rockcastle Global Real Estate Company Limited (“Rockcastle”) prior to its merger with New Europe Property Investments plc. He was also Chairperson of a China and retail-focused real estate company managed by Blackstone Inc. and Macquarie Asset Management prior to its disposal.

Desmond de Beer

Non-independent

Desmond de Beer

Non-independent

BProc MAP
(South African)
Date of appointment: 27 May 2020
Listed company Directorships: Two
Committees: Investment (Chairperson), Nomination and Remuneration

Desmond has significant experience in property investment and management. He spent his early career in the banking industry in South Africa culminating in his appointment as General Manager Corporate Equity and member of the Executive Committee at Nedcor Investment Bank. Desmond was a founder of Resilient, a South African Real Estate Investment Trust, where he has served as Chief Executive Officer since its listing in 2002 until stepping down at the end of December 2023. He was also a founder of New Europe Property Investments plc and its successor NEPI Rockcastle plc. He served as a Non-Executive Director of these companies and chaired the Investment Committee until May 2020. Desmond serves as a Non-Executive Director at Resilient.

Stuart Bird

Independent

Stuart Bird

Independent

B Agric, BCom, Dip Acc, CA(SA)
(South African)
Date of appointment:12 February 2020
Listed company Directorships: Two
Committees: Investment and Remuneration

Stuart held various auditing- and accounting-focused positions in his early career and was appointed as the Financial Director of Hub Trading Company, previously a division of Mr Price Group Limited, in 1993, where after he was promoted to Managing Director in 1999. In 2001, he joined Mr Price Apparel (a division of Mr Price Group Limited) as the Deputy Managing Director and took over the reins as Managing Director in 2002. He was appointed as Deputy Chief Executive Officer of Mr Price Group Limited in 2010 and promoted to Chief Executive Officer in 2011, in which position he remained until his retirement in 2019. In addition to his current non-executive positions, he also consults to the retail and logistics industries.

Karen Bodenstein

Independent

Karen Bodenstein

Independent

BCom (Accounting Sciences)
(Mauritian)
Date of appointment: 27 September 2016
Listed company Directorships: One
Committees: Audit (Chairperson) and Risk (Chairperson)

Karen is an accountant with over 20 years’ experience in financial reporting and oversight roles. She works as a consultant providing management and financial accounting services to global and domestic companies in Mauritius. She has exposure to Directorships on listed companies on both the SEM and the JSE. She was an Executive Director of Rockcastle, where she was the Chairperson of the Risk and Ethics Committee. She is currently an Independent Non-Executive Director of Pembani Remgro Infrastructure Fund. She holds a BCompt (Accounting Sciences) degree from the University of South Africa and an Advanced Diploma in Management Accounting from the Chartered Institute of Management Accountants. Karen has been living in Mauritius since 2007.

Stephen Paris

Independent

Stephen Paris

Independent

ACCA
(Maltese – based in Malta)
Date of appointment: 5 August 2021
Listed company Directorships: Four
Committees: Audit, Risk and Social and Ethics (Chairperson)

Stephen joined the Board in August 2021. He is an accountant and auditor by profession. He spent 30 years in the profession with Deloitte Malta where he was admitted as a partner in 2000. As a partner, he served in various leadership roles at Deloitte as Head of Audit, Financial Services Industry Leader and Head of Risk and Regulatory Advisory. Throughout his career, he has led numerous audit and non-audit assignments for a variety of clients. Stephen was a council member of the Malta Institute of Accountants and lecturer in auditing for several years.

Anthony Doublet

Independent

Anthony Doublet

Independent

FCCA, FIA, CPA
(Maltese – based in Malta)
Date of appointment: 5 August 2021
Listed company Directorships: One
Committees: Audit, Social and Ethics

Anthony joined the Board in August 2021. He is a fellow of the Chartered Association of Certified Accountants as well as a certified public accountant and registered insurance auditor. Anthony spent most of his career with Ernst & Young and recently retired as a partner. He has served a number of audit clients in the banking, insurance and asset management sectors. He was also a member of the Malta Institute of Accountants for 14 years during which time he sat on various committees.

Nicolaas Hanekom

Non-independent
(Alternate to Desmond de Beer)

Nicolaas Hanekom

Non-independent
(Alternate to Desmond de Beer)

BCom, BAcc, CA(SA)
(South African – based in the UK)
Date of appointment: 11 May 2023
Listed company Directorships: One
Committees: Investment, Nomination and Remuneration

Nick completed his articles with PwC in Johannesburg and then joined PwC London. On his return to South Africa in August 2005, he was employed by Resilient, initially as Company Secretary and, with effect from May 2011, as Financial Director. In March 2020, his role changed to that of Chief Operating Officer. Nick resigned from Resilient at the end of 2022 and emigrated to the UK where he started a financial consulting business.

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