After months of decline, trading densities across 2.2 million m² of physical retail space in seven provinces of South Africa and in Namibia are trending towards growth, according to an industry barometer.

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

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

Blue-chip listed property loan stock company Hyprop Investments on Tuesday reported an 18,2% surge in distributions to 130c for the six months to June.

Shopping centres contribute 11.7% to the growth in distribution, with the balance achieved mainly from interest earned as a result of the disposal of an investment in SA Retail Properties

Friday, 11 May 2007 02:00

SA Retail earnings rise

SA Retail reports a 9.2 percent growth to 77.7 cents in distributable earnings for the year ended March

A due diligence investigation of the portfolio is under way

SA Corporate Real Estate Fund says its offer to acquire all the units in SA Retail Properties Ltd had been accepted by holders of 99.79% of SA Retail units. The offer closed on Friday (May 4)

SA Corporate Real Estate Fund has entered into agreements with Collins Property Group to acquire a portfolio of 52 properties in excess of R1 billion, potentially growing the market cap of the fund to over R9 billion.

SA Corporate Real Estate Fund and SA Retail Properties Ltd which are set to merge into a R7 billion diversified fund, both outperformed the Investment Property Databank industry standard for 2006 with total returns for the year of 33.8% and 41.2%

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