Vukile Property Fund today reported a 5% increase in its distribution for the six months ended 30 September 2012 to 57.03 cents per linked unit, driven by a solid performance by its property portfolio.

Vukile Property Fund announced it is to acquire a 50% share in the East Rand Mall in Gauteng for a consideration of R1.115 billion

Property loan stock company Vukile Property Fund is planning to acquire a 50% share in the East Rand Mall in Gauteng for R1.115bn, in line with its strategy of aggressively growing its portfolio with a special emphasis on the retail sector.

Redefine Properties today reported distribution growth of 7.2% on a like-for-like recurring income basis, meeting its forecast to investors for the year ended 31 August 2012. The total return to unitholders was 30% for the year.

Unitholders are advised that, at the annual general meeting of the company convened on Friday, 31 August 2012, all of the ordinary and special resolutions were passed by the requisite majority of Vukile shareholders

Vukile is committed to remaining a diversified fund but with a special emphasis on the retail sector. 

Property loan stock company Vukile reports a 6.3% increase in the profit available for distribution for the full year to 31 March 2012 to R439.1 million. According to leading analyst Leon Allison of Macquarie, adjusting for the manco fee and the once-off lease payment received in 2H12, estimated like-for-like growth of around 5% occurred.

Looking forward, Vukile (VKE) plans to grow more aggressively by focussing on retail and improving the quality of their office portfolio, according to Laurence Rapp, CEO of Vukile Property Fund.

Property loan stock company Vukile Property Fund says it is to acquire a portfolio of 20 properties, worth nearly R1.5bn, from Sanlam Life Insurance.

Nedbank Corporate Property Finance in conjunction with Nedbank Capital has refinanced R450 000 000 of debt within MICC Properties (Pty) Ltd