Tower’s wobbly share price not a true reflection of group’s meteoric rise.

Arriving at Vukile Property Fund’s headquarters, a pretty and petite building in Rosebank, we’re greeted by cranes on the horizon.

The SA REIT (Real Estate Investment Trust) sector has published Best Practice Recommendations that will make financial reporting of South African REITs clearer and more comparable.

Listed property returned 7.99% to its investors, outstripping cash’s 6.46%, equities 5.13% and bonds’ -3.93%, according to figures from Catalyst Fund Managers.

Vukile will launch its residential property strategy before the end of March next year as it looks to add diversification to its predominantly retail-focused portfolio.

Vukile Property Fund today reported 7% growth in distributions per share for its half year to 30 September 2015, delivering results in line with its market guidance.

South African Real Estate Investment Trusts (SA REITs) are increasing their representation in the JSE/Actuaries All Share Top 40 Companies (ALSI 40) Index, growing their representation among South Africa’s largest listed companies.

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

Vukile Property Fund has more than doubled the value of its directly held South African real estate assets over the past three years from R6.1 billion to R15.2 billion currently, with retail properties accounting for over R10.5 billion or 70% of its portfolio.

Listed REITs (real estate investment trusts) have become an increasingly important force in the South African economy.

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