DEXUS Property Group (ASX:DXS) chief says good times ahead

Office landlord company DEXUS Property Group (ASX: DXS) could benefit from good conditions in its segment for several years to come, according to an article in The Australian.

The article quoted Dexus CEO Darren Steinberg, with Steinberg saying vacancy rates will remain low with the company expecting two further years of growth in the office markets, particularly in Sydney.

Dexus shares have experienced some volatility in the last 12 months, dropping back from a high of $10.72 in December 2017 to open down today at $9.92.

Another office-space specialised company, Cromwell Group (ASX: CMW), has seen its shares rise 20% in the last year, up from 92c per share at this time last year to $1.11 at the time of writing.

Cromwell recently refinanced its debt facilities and leases its buildings to the likes of Qantas Airways Limited (ASX: QAN).

Any changes in the property market also affects home builders such as Mirvac Group (ASX: MGR) and Stockland Corporation Ltd (ASX: SGP), but with pre-sales for the next year or so up, the ripples are usually felt at a later date.

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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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