JSE-listed real estate investment trust (Reit) Rebosis Property Fund has announced that CEO and founder Dr Sisa Ngebulana will step down and retire with effect from December 1 when Otis Tshabalala’s term as CEO will start. Ngebulana positioned the business as a retail-focused fund valued at R7.5-billion, comprising five dominant retail malls and three office/retail/other assets with a strong balance sheet and a loan-to-value ratio of about 42%, as well as with enviable property assets which are of a superior quality and that are well looked after internally.