The listed property sector has managed to outperform other equities but has been outdone by bonds during 2016 so far.

Specialist shopping centre REIT, Hyprop reported double-digit growth for the year ended 30 June 2016 off the back of its defensive quality shopping centre portfolio.

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.

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.

Hyprop Investment Limited’s Gauteng-based regional shopping centre, Clearwater Mall, has tripled the generation output of its solar photovoltaic PV plant and now boasts Africa’s largest rooftop Solar PV system.

Energy efficiency at Hyprop’s Clearwater Mall is set to rise with the installation of a 500kWp solar photovoltaic plant (“PV”) which went operational last week.

Leading JSE shopping centre REIT, Hyprop, has continued its formidable track record of strong returns with an exceptional 15% increase in total distributions for the year to 543 cents a share.