The planned listing had been held back because of the City of Johannesburg's delays in issuing clearance certificates.

The fund was initially tipped to list at the end of August, but RMB Properties chief operating officer Warren Schultze said at the time the listing was postponed to the end of September because market conditions indicated there were opportunities to increase the fund.

The launch was delayed again to the end of this month as the necessary approvals had not yet been received.

Schultze said most of the properties had now been lodged for transfers, while certain transfers had already taken place. "The initial response we've had from potential investors towards our fund has been quite favourable."