Consumer spending may well be in the doldrums, but punters who invested in blue-chip mall owner Hyprop Investments, when the share price was about R89, are in the pound seats.

Hyprop double digit-distribution growth at interims ahead of expectations.

Hyprop Investments Limited (Hyprop), the specialist shopping centre REIT (Real Estate Investment Trust) today announced that it has acquired a 60% interest in Serbian mall, Delta City Belgrade purchased from Delta Real Estate Group (Delta), a private Serbian company and Montenegrin mall, Delta City Podgorica, purchased from Hemslade Trading Limited Cyprus (Hemslade) and Delta.

While most of last year was a pleasing one for Hyprop shareholders, 2016 has begun on a poor note. In fact, 2015 ended with little good news from the marketplace, as the stock plunged after a months-long rally.

Until recently, Growthpoint Properties and Redefine Properties were the largest listed South African real estate groups, leaving institutional investors with limited choice.

Driven by a dynamic tenant mix of exclusive global and local brands Hyprop's Hyde Park Corner is the definitive destination centre for style-conscious, boutique shoppers wishing to access the very best in luxury; be it conventional goods, or merchandise which follows more eclectic fashion and lifestyle trends.

The biggest merger in the history of the South African listed property sector is going ahead, with Fortress Income Fund finalising the acquisition of Capital Property Fund.

Actis, a leading emerging markets investor, RMB Westport, a notable sub-Saharan Africa real estate investment management and development group and Paragon Holdings, a leading Nigerian investor group today confirm the sale of Ikeja City Mall to South African Real Estate Investment Trust (REIT), Hyprop Investments Limited (Hyprop) and Attacq Limited (Attacq), a JSE-listed real estate capital growth fund.

Top commercial property broker Sean Berowsky was recently appointed Head of Commercial and Industrial Broking at Broll South Africa.

South African listed property once again ranked high among the country’s top companies earning the most for shareholders.