The JSE had declined Growthpoint Properties’ request for a ruling that Redefine be precluded from voting on all resolutions relating to Growthpoint’s bid for Fountainhead’s R10bn portfolio‚ Redefine said on Monday.

GoGlobal Properties‚ which listed on the Bermuda Stock Exchange last month‚ said on Monday its secondary listing — on the AltX — would be effective from Monday next week.

The battle between listed property heavyweights Growthpoint Properties and Redefine Properties for a R10bn blue-chip retail portfolio flared up anew on Wednesday, with Growthpoint digging in its heels and indicating that it has no intention of giving up on its bid.

Growthpoint says it is pushing ahead with its revised proposal to acquire Fountainhead’s portfolio despite the latter’s declaration last month that it had terminated talks in this regard.

Vividend Income Fund, a property loan stock company listed on the JSE, returned sparkling growth in its unaudited results for the six months ended February.

The most active sector on the Johannesburg Stock Exchange (JSE), over the past twelve months with a market capitalisation of some R222 billion, South African listed property is poised undergo a significant change. 

New real estate investment trust (Reit) regime will also give unlisted property companies an incentive to list on the JSE as a Reit, says Java Capital director Andrew Brooking.

The Don Group, a hotel operator turned residential letting group, said that the disposal of its nine hotel properties would result in the group being classified as a "cash shell", which could see its listing on the JSE being suspended.