The Property Loan Stock Association (PLSA) will be hosting its first-ever management, REITs REALITY – towards a REIT environment in South Africa – on 16th and 17th August at the Sandton Convention centre.

Competition Tribunal has approved the acquisition by Old Mutual Properties of the property businesses of Marriott paving the way for the creation of South Africa's largest property asset management company called Old Mutual Property group - with assets totalling some 32 billion rand.

The strong growth in property values has been a mixed blessing for SA's listed property sector, which is struggling to purchase fixed properties, as there seem to be so few sellers.

A start has been made on converting Persam Place, the second residential joint redevelopment in Johannesburg’s CBD by Old Mutual Properties and City Property Administration.

Strong capital growth in their underlying portfolios was the main driver of Growthpoint Properties and Sycom Property Fund's out performance of other listed property funds at the Financial Mail/Investment Property Databank (IPD) awards last week.

Further Corporate activity is on the cards for the listed property sector as funds become increasingly aggressive in their drive to bulk up assets under management. The sector has seen a number of mergers and takeovers over the past year, with the Madison managed stable of funds being one of the key players.

The drive for transparent property valuations appears to be creating opportunities for independent private valuers.

Old Mutual Properties has offered to buy the entire business of Durban-based property group Marriott Holdings in a deal that could be worth up to R500m .

JSE-listed property funds - managed portfolios of shopping centres, offices and industrial property - show no sign of peaking, as some analysts started warning over a year ago that they would. Their combined market capitalisation has doubled to R46-billion in five years, and should reach R50-billion this year.

Urban Ocean Property Devel- opers, which is active in Johannesburg’s inner city, has bought two mothballed office blocks, including two landmark properties, from Old Mutual Properties for an undisclosed amount.