Freedom Property Fund (FDP) said on Thursday it had been granted approval to list on the JSE's main board on June 12.

Its strategy is to provide a platform for property owners to unlock value in their development projects by providing a vehicle through which they can secure the necessary development funding.

Freedom Property will list 1‚027‚029‚031 shares at R1 each. "On the listing date‚ Freedom's gearing will be less than 3%‚ with Freedom's net asset value per share being approximately 35% greater than the issue price of a Freedom share on listing‚" it said.

"Management believes this will provide a significant base for the company to raise new funding for the Freedom projects in a phased approach in line with a clearly-defined strategy."