Listed property has shone amongst South Africa’s top 100 companies, based on share-price performance

Last Tuesday Growthpoint’s price leapt 9,9% to R15,50 on a record turnover of 30m shares. This when the listed property sector lies moribund on the margins of the world’s unravelling financial markets.

Aiming to be completed in March 2009 at a cost of some R250 million and extending Canal Walk’s retail space by 16,000m2, the stand-alone pods will be home to premier tenants

A STRONG performance from its shopping centres and its investment in listed Sycom Property Fund helped to boost Hyprop Investment’s distributions 15,4% to 150c for the six months to June.

Reflecting the defensive quality of its shopping centre assets in a depressed economy, JSE retail property fund Hyprop Investments posted a 15,4% increase in distributions to 150 cents for the six months to June 2008

Madison Property Fund Managers have reported an interim distribution of 39 cents per linked unit for the period to 30 June 2008, representing an 8.3% increase from the prior interim distribution period

Having assessed the possibility of merging with a number of its funds under management, Madison Property Fund Managers has lifted the cautionary under which it has been trading since March 2008

Hyprop Investments says it is 'no longer a party' to merger discussions with the Madison stable of listed property companies.

Redefine Income Fund has reported that its interim distribution increased 12.9%.

The Madison stable of listed property companies, including Madison itself, all issued cautionary announcements yesterday indicating they were considering a proposal that could see them merge into a single property fund.