Redefine Properties today reported 7% growth in its interim distribution of 33,7 cents per linked unit for the six months ended 28 February 2013, achieving the top end of its market guidance. 

With limited targets up for grabs in the market, many listed property groups are taking advantage of the cheap funding environment to restructure their debts and improve the quality of their existing portfolios.

The JSE had declined Growthpoint Properties’ request for a ruling that Redefine be precluded from voting on all resolutions relating to Growthpoint’s bid for Fountainhead’s R10bn portfolio‚ Redefine said on Monday.

Growthpoint released an announcement on 17 April 2013 leveling a number of allegations against Redefine and Fountainhead Property Trust Management Limited (“Fountainhead Manco”).

The battle between listed property heavyweights Growthpoint Properties and Redefine Properties for a R10bn blue-chip retail portfolio flared up anew on Wednesday, with Growthpoint digging in its heels and indicating that it has no intention of giving up on its bid.

Redefine has a number of plans for Fountainhead’s assets and structure to block Growthpoint's bid for Fountainhead portfolio.

Redefine Properties welcomes the decision by Fountainhead’s independent committee to terminate its engagement with Growthpoint following Growthpoint’s proposal to acquire Fountainhead’s assets. 

THE South African listed property sector has seen a number of new listings over the past 18 months with historically low interest rates creating a conducive environment for new property vehicles.

Wednesday, 20 March 2013 12:37

Office space under pressure in year ahead

Property pundits agree that office property will remain the problematic sector in the next 12 to 18 months with dominant retail centres likely to be the best performers.

After several years of strong price growth in the listed property sector, most property pundits believe we can expect slower — albeit solid — growth this year from listed property stocks. Nevertheless there are still major opportunities for investors who want an investment that offers a steady income stream.

Page 5 of 14

Most Popular

City of Joburg Housing Development wins UN award

Sep 17, 2019
 MESHACK VAN WYK
The City of Johannesburg’s Housing department has won a Sustainable Cities and Human…

Mall of Africa Celebrates Launch of New Generation Pick n Pay Store

Sep 23, 2019
 MOA PNP  1
Today Mall of Africa welcomed one of South Africa's biggest grocery retailers to the…

Exemplar REITail Acquires Katale Square Shopping Centre

Sep 23, 2019
 JASON MCCORMICK
Real estate investment trust, Exemplar REITail, has acquired Katale Square shopping…

Mixed-use is the key to funding hotel development in Africa

Sep 17, 2019
 XANDER NIJNENS
JLL’s research into global property transactions reveals that in the first half of 2019,…

Reserve Bank keeps repo rate unchanged

Sep 23, 2019
 LESETJA KGANYAGO
 South African Reserve Bank Governor Lesetja Kganyago on Thursday said this is in line…

Please publish modules in offcanvas position.