South Africa’s listed property sector finally succumbed to a weaker Rand, higher bond yields and ‘private placement fatigue’ during the week ending 24 May 2013.

Vukile Property Fund today reported a 26.7% increase in the profit available for distribution for the full year to 31 March 2013 to R556.4 million

The new SA REIT Association, constituted in Sandton today, is tasked with representing the listed property REIT sector, one of South Africa’s most active and innovative sectors on the JSE.

Property portfolio value increased to R4.2 billion, doubling in the year under review (FY12 R2.1 billion) 

Thursday, 23 May 2013 01:31

The price of converting to REIT

Many listed property companies are converting or considering converting to real estate investment trusts (REITs) in South Africa since the new tax regime for list REITs was enacted.

Despite further Rand weakness and rising long bond yields, South Africa’s listed property sector gained 1.2% during the week ended 17 May 2013. 

Growthpoint Properties Limited this morning announced that it successfully closed its sizeable R2,5 billion equity raise, which opened yesterday afternoon. 

THE South African Property Owners Association (Sapoa) is lobbying to see that the favourable tax dispensations of the newly launched real estate investment trust (Reit) structure are extended to unlisted property players.

Emira Property Fund reports that vacancies in its property portfolio dropped below 7% for the first time since 2008.

Investors may still be wary of exposure to government-tenanted buildings after a number of public works leasing scandals hit the headlines last year.

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