Hong Kong-listed Shanghai Zendai is going ahead with its grandiose plans to build a colossal mixed-use city in the sleepy village of Modderfontein northeast of Johannesburg.

Zendai Development SA says its plan to develop a city in the suburb of Modderfontein is on track and that the group is consulting with environmental, community and City of Johannesburg authorities.

Well-known industry figure Anthony Diepenbroek plans to focus on putting together listed empowerment property funds.

Listed loan stock company, Pangbourne Properties Ltd, has appointed four new directors to its board.

Listed property loan stock company iFour Properties announced its financial director James Nunes would be taking over as CEO from Anthony Diepenbroek

Property sale increases retail exposure

Delivering on its promise to investors, iFour Properties Limited (IFR), the 1.4 billion rand property loan stock company, has declared a distribution of 37c per linked unit for the six months ended December, in line with the forecasts previously published in a circular to unit holders.

Pretoria - Pangbourne Properties, the listed property investment company, has gained control of listed peer iFour Properties.

IFour Properties SA has sold its Greenpoint office property in Cape Town to Faircape Property Developers for R46m as part of an initiative to upgrade its portfolio.

Pangbourne Properties' move to increase its holdings of iFour linked units to 34% has sparked speculation that the group is looking to take out iFour's assets.