Over the course of the year, the company's leasing specialists negotiated 88,000m2 of leases across KwaZulu-Natal and the Eastern Cape’s office, retail and industrial market sectors.

Retail was the top-performing sector for the Durban leasing team of Growthpoint, making up more than half of the year's total value with deals concluded in excess of R112 million. A good example of the team's success in this high-demand sector was the leasing of 2,000m2 for a new Mr. Price Sport at Growthpoint's upmarket La Lucia Mall, and the 1,500m2 Everfresh Markets which also opened at the same mall last year.

"Although retail sales may have levelled out our prime retail properties enjoy continuing high demand," says Growthpoint’s Greg de Klerk. "We've achieved significant performance in the office and industrial sectors too, and we look forward to even greater successes in 2008."

Growthpoint's market statistics show that office deals concluded in 2007 amounted to more than R40 million over a GLA of 10,600m2, or 18% of the team's total value and 12% of the floor-space negotiated in the 12-month period. “We are confident that the demand for good quality office space will continue and this confidence is reflected in our decision to commence with the construction in March 2008 of Lincoln On The Lake, a new

R100 million premium grade office building of 6,000m2 situated in Parkside, Umhlanga Ridge New Town Centre,” notes de Klerk. The development is due for completion in June 2009.

Industrial deals racked up 31% of the total value of leases signed in 2007, bringing in R67 million, but accounted for a significant 67% of the floor-space let during the year with a GLA of 59,000m2.

"Demand for industrial space remains strong and given the shortage in supply there is upward pressure on rentals," adds de Klerk.

The majority of deals concluded in 2007 were negotiated by the Growthpoint team, but outside brokers are increasingly bringing business to this leading property owner. In 2007, brokered deals account for more than R18 million of leases in the office and industrial sectors, or almost 14,000m2 of total GLA.

Growthpoint Properties Limited is South Africa’s largest JSE-listed property company with assets and market capitalization of R24 billion and R20 billion respectively. Growthpoint is a hands-on property owner which undertakes the asset management and property management of its premium portfolio of some 430 buildings located throughout South Africa and spanning over 4,200,000m2.

Approximately 18% of Growthpoint’s property portfolio, by size, is located in KwaZulu-Natal and the Eastern Cape.