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"GTC delivered solid results in 2016, several value accretive acquisitions and completions of office projects contributed significant to NAV and NOI growth.
Indluplace Properties Limited, the first residential focused property portfolio listed on the JSE, today announced that it has concluded an agreement with Diluculo Investments Pty Ltd to acquire Diluculo Properties Pty Ltd which owns a property portfolio of 1 319 residential units for R475 million.
There are a few significant changes on the cards for the South African property sector in 2017.
Intu properties plc (‘intu’) announces that it has exchanged and completed contracts with entities of the Ivanhoé Cambridge Group to acquire Xanadú shopping centre in Madrid, Spain, along with its associated management company and the SnowZone operating company, for a total cash consideration of €530 million, before working capital and other adjustments.
Echo Polska Properties NV (EPP) has concluded an acquisition agreement to acquire a 70% stake in Galeria Młociny in Warsaw for €29 million from Rosehill Investments sp. z o.o. Galeria Młociny will be developed at an estimated development yield on cost of approximately 7.1% and on completion is expected to be accretive to EPP.
JSE listed Echo Polska Properties (EPP) - the leading Polish property group - today released maiden annual results for the period to December 2016 ahead of forecast, with distributions of 3,14 euro cents a share for the period 1 September to 31 December 2016 beating the pre-listing forecast by 2,2%.
Diversified property REIT, Texton Property Fund Limited (“Texton”), today announced sound interim results, declaring an interim dividend of 47,95 cents per share.
Fairvest Property Holdings Limited (“Fairvest”) today announced another set of strong results for the first six months of the 2017 financial year, with distributions increasing by 9.57% year-on-year.
Growthpoint Properties Limited today reported distribution growth of 6.1% for its six-month interim period to 31 December 2016, delivering performance comfortably in line with market guidance.
MAS Real Estate Inc (“MAS”), a commercial property investor, developer and operator listed on the main board of the Johannesburg Stock Exchange (“JSE”) and the Euro-MTF market of the Luxembourg Stock Exchange (“LuxSE”).