The R223 billion South African listed property sector’s underlying property and fund fundamentals are showing improvement, despite the recent bond-driven share price volatility on the JSE Real Estate Investment Trust (REIT) board.

Growthpoint Properties, the largest listed South African property company on the JSE and the largest REIT in emerging markets, has launched a DR programme.

Other listed property companies are expected to follow sector heavyweight Growthpoint Properties’ lead in converting its historically complicated capital structure to one of ordinary shares.

Growthpoint Properties Australia (ASX:GOZ) announced that it has agreed to acquire a portfolio of three prime industrial property developments in Melbourne, Victoria, for a total consideration of AU$60.2 million (approximately ZAR542 million). 

Volatile bond markets may have caused some suffering for SA’s listed property sector in recent weeks, but the opportunities for investors are still there, thanks to higher yields and sound market fundamentals.

Redefine Properties said on Friday it had received confirmation from the JSE that the bourse had found no breaches of its listing requirements in relation to the battle for Fountainhead Property Trust’s portfolio.

Friday, 14 June 2013 12:08

Work cut out for SAPOA president

Moving SA’s multibillion rand commercial property industry out of the jurisdiction of the troublesome public works department to trade and industry will be one of Estienne de Klerk’s top priorities.

The South African Property Owners Association (SAPOA) today announced it has a serious concern with government’s amendments to the SETA Grant Regulations.

THE state’s sale of nonstrategic properties could more than double the size of South Africa’s listed property sector and see transformation in the industry significantly accelerated.

Government's plan to implement carbon taxes from 2015 could contribute to the already high administered prices facing the commercial property industry.
 
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