Emira Property Fund has boosted its future earnings growth for the medium term with the 12 key property assets acquired so far in 2014.

Emira Property Fund confirmed it has been advised by Redefine Properties that Redefine has purchased approximately 11% of Emira's Participatory Interests (PIs).

Listed property share prices rally about 5% over the past two weeks, on better than expected results reported by real estate counters this month.

Emira Property Fund's share price is up 0.48% to R14.60 per share after a distribution of 123‚18c per Emira participatory interest for the year to June 30 2014 was declared.

Though concern lingers about Emira Property Fund's exposure to the older, B-grade office market.

More rental housing portfolios are finding their way to the JSE's R260bn listed real-estate sector although they are mostly part of larger commercial property offerings.

Developers will keep on building malls, says Emira Property Fund CEO James Templeton on the side lines of the South African Property Owners Association conference.

Emira Property Fund today confirmed that it is set to increase its growth in distribution per share to 7.5% for its full year to 30 June 2014, and outperform its 6.5% half-year distribution growth.

Emira Property Fund, a JSE-listed SA REIT, recently concluded a R114,6 million participatory interest (PI) buyback of 8,54 million PIs at an average of R13.41 per PI, which included the distribution of 59.31 cents paid to PI holders in March 2014.

Emira Property Fund today reported distribution growth to investors of 6.5% for its six-month period to 31 December 2013.