SA listed property stocks have outperformed local equities despite the downturn in global financial markets.

Growthpoint Properties' market perfomance has resisted the downward trend and ended 5,25% up.

SA is soon to follow the international trend whereby property loan stock companies and property unit trusts will be structured as real estate investment trusts (the REIT model), with final legislation hopefully in place next year.

Growthpoint Properties Limited has confirmed that its R1.74 billion capital raising rights issue had been oversubscribed when the offer closed on Friday, 30 January 2009

SA-listed property outperformed SA equities by an impressive 18% when measuring total returns

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

Eskom said last year it would not provide electricity to new developments requiring more than 100kVA power because of SA’s low reserve margins.

Top JSE-listed construction companies Aveng and Murray & Roberts were removed from the JSE Top 40 index of blue chip companies.

Growthpoint has reduced the value of its proposed rights offer due to a unclear ruling approved at its annual general meeting held last month.

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.