A group of shareholders in luxury property developer Pinnacle Point have filed a R1.3-billion claim against Nedbank.

Listed Property Fund, until recently rather slow on the transformation front, are expected to step up black empowerment deal-making over the next few months to comply with the requirements of the Property Sector Transformation Charter signed last week by Government and industry players.

Ailing construction group Basil Read has announced that its French-based parent company, Bouygues Travaux Publics, will sell 51% of Basil Read to an empowerment consortium.

Construction group's major shareholder has agreed to sell almost 52% of the group to a black consortium

Listed property loan stock heavyweight Growthpoint, which is the largest property company on the JSE, has managed to conclude a significant empowerment deal with no dilution to existing unit-holders.

Growthpoint Properties has agreed to sell 14.2% of its total linked units in issue to a consortium of black economic empowerment partners