JSE-listed real estate investment trust (Reit) Arrowhead Properties reduced it vacancy rate for the year ended September 30, despite a persistently challenging economic environment. Speaking to Engineering News Online on Wednesday, Arrowhead CEO Mark Kaplan said the industry had been characterised by unpredictability, with tenants under a lot of pressure resulting in them either downgrading spaces or going out of business – engendering a risky operating environment.