Australian-based global property and infrastructure giant Macquarie looks likely to lose its bid for control of Grayprop, SA's second-biggest listed property fund, and with it a dramatic entry into the SA property market.

Construction firm Grinaker LTA was excluded from the bidding process to build the King Shaka airport in Durban because it could not commit to the black-economic empowerment procurement required by Airports Company of South Africa (Acsa)

At present, the six Property Unit Trusts (PUTs) listed on the JSE Securities Exchange are invested in various combinations of commercial, industrial and retail property but, as yet, they have no exposure to residential property.

Listed property unit trust SA Corporate Real Estate Fund has come a long way in terms of market position from its previous incarnation as Martprop Property Fund.

Property Unit Trusts (PUTs) give investors the opportunity to buy units in a portfolio of properties, which are traded on the JSE Securities Exchange. But just how are those prices determined and what should investors consider when making a decision to buy or sell PUTs?

Although Finance Minister Trevor Manuel did not specifically include any property-friendly items in his budget speech last week, his scrapping of taxation on interest for pension funds is expected to be a major boost for the listed property sector.

What does the future hold for PUTs?

Bain, the US private equity fund that is paying R25bn for listed retail giant Edcon, may have struck a snag with the landlords of the 1m m² of retail space that Edcon occupies in shopping centres.

The listed property sector appears to be on track to meet the targets of its empowerment charter, which is aimed at placing 25% of the property sector in black hands in five years.

Listed property asset manager is expanding into the overseas property market and intends to acquire 50% of the management company of UK-based property fund CIREF