'Steep increases in turnover and operating income were largely due to acquisitions'

Hyprop 'signifigantly' higher.

LISTED property asset management company Provest, which is part of Investec Bank, said yesterday that exposure to the retail sector had a positive effect on the earnings growth of property unit trusts.

Property loan stock company Hyprop Investments was upbeat about its interim results for the six months ended June 30 2003 and declared a 2% rise in interim distribution to 65,10c.

JOHANNESBURG-based property specialists Hyprop Investments will have its work cut out to garner suitable returns from the Canal Walk Shopping Centre in Century City.

Absa has probably saved Paraprop management by taking a R62m stake (34%) in this property loan stock company (PLS).

Cape Town - Hyprop Investments and Ellerine Bros, which recently bought the Canal Walk shopping centre outside Cape Town for R1.16 billion, said yesterday they shared commercial interests with the centre's retailers and were committed to cordial landlord-tenant relationships.

Retailers at Canal Walk, the largest shopping centre in Africa, are closely studying the deal in which the centre was sold by Nedcor to Hyprop Investments and Ellerine Bros for R1.16 billion.

Listed property may be everybody's favourite JSE sector but, like a newly discovered celebrity without table manners, its corporate governance is generally an embarrassment

Property investment holding group Hyprop is increasingly becoming a niche retail specialist.