JSE-listed, Emira Property Fund, has become the latest of four well-established South African listed property funds to the join the Global Property Research 250 Index (GPR 250).
Listed property fund SA Corporate Real Estate’s year to December results have not been well-received by some analysts because the company’s distribution per unit fell below its forecast.
Listed property has shone amongst South Africa’s top 100 companies, based on share-price performance
SA Corporate Real Estate Fund, one of the country’s largest listed property funds, declared an interim distribution of 14,5 cents a unit, which was in line with expectations of management
Although investors climbed back into listed property in a big way last month - the index gained around 14% in July - industry players aren't expecting the sector to continue to deliver the same super returns seen over the past three years
The impact of the global credit crisis on South African listed property companies’ access to finance has been minor, explains Managing Director of Nedbank Corporate Property Finance Frank Berkeley
Another big property deal has fallen through because of listed property price volatility and the caution of the banking industry, which is tightening funding requirements or increasing funding margins.
Property fund SA Corporate Real Estate has bough two office properties for R170 million in Durban and Bloemfontein, it said on Friday.
SA Corporate Real Estate Fund which was reshaped in 2007 into the country’s third largest listed property fund through acquisitions of R4,7 billion, has beaten its distribution forecast for the year
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