Emira Property Fund has announced an increased distribution for the year ended 30th June 2011 of 113.52 cents per Emira participatory interest (PI) – 5% higher than the previous year

Emira Property Fund, a listed property unit trust, has posted a 5% rise in distributions to 113.52c for the year ended June.

Emira Property Fund, a listed property unit trust, has poured R61,1m into Growthpoint Properties Australia (Goz), an Australia-based real estate investment trust, saying the investment was earnings enhancing for unitholders of both companies.

Property stocks could pip general equities at the post again this year, while the listed property index hit a new record high earlier this month after dipping 10% in the first quarter.

Growthpoint Properties has reported a distribution per linked unit of 59.1c for the 6 months ended December 31, 2009, from 56.3c earlier.