ALLAN Gray Property Trust (Grayprop), the largest property unit trust with a market capitalisation of R2.9 billion, has declared distributions for the year ended September 30 2003 of 30.9 cents per unit, marginally up on last year, and in line with the forecast in its 2002 annual report.
A key feature of the year has been the transfer of Grayprop's properties from fixed property companies into the Trust, as allowed for by the Collective Investments Schemes Control Act of 2002.
Grayprop will be able in future to sell properties without the burden of capital gains tax
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