South Africa’s listed property sector rallied 1.4% last week, after declining significantly in the last two weeks of October 2012. Much of the selling pressure was attributed to a single large foreign investor and last week’s price action suggests this has come to an end. 

Despite tough trading conditions, retail-focused Hyprop Investments beat market expectations by declaring a distribution of 357c per unit for the year to December, an 8% increase on the prior year.

Retail-focused property fund Hyprop Investments (HYP) on Monday announced the re-appointment of Pieter Prinsloo as its new CE.

Owning shares in Hyprop Investments and Resilient Property Income Fund, means investors own some of the best retail property in SA.

Hyprop has given three months notice of termination of its existing consultancy agreement with Redefine Properties Limited following the recent resignation of Wolf Cesman as joint CEO of Redefine.

Retail property fund Hyprop Investments has reported a total distribution per combined unit to 328 cents for the year ended December 31, 2009, from 308 cents previously.

Despite a drop in national retail sales and construction at three centres, retail sales in Hyprop's portfolio grew 1%.

Retail-focused Hyprop Investments has announced the appointment of Mike Rodel as CEO with effect from August, to oversee the completion of the company’s R663m expansion programme launched last year.