Dipula Income Fund today announced that it has agreed to acquire the Gillwell Taxi Retail Park development in the East London CBD, situated in the Buffalo City Metropolitan Municipality of the Eastern Cape province.

There was very little in the way of positive news for investors in South Africa's listed property sector for the week ended 9 November 2013 and the US jobs report of last Friday has placed the sector firmly on the back foot.

The East London property market was turning to 'buoyant' territory bolstered by growth in the local automotive industry and black buyers making investment purchases.

The South African listed property sector is growing in leaps and bounds, having increased its market capitalisation over the past 12 months from R122bn, with 18 counters, to R158bn, with 29 counters, as at the end of last month.

The tabling of the new Special Economic Zones (SEZ) Bill is an admission by government that the existing Industrial Development Zones (IDZs) have failed to attract enough investment to justify the R5.3 billion spent on them, says Democratic Alliance shadow trade and industry minister Tim Harris

Treasury official says the legislative framework for industrial development zones (IDZs) is to be revamped to make them more attractive to investors

This week’s listing of R2,2bn to the real estate sector’s market cap, which is fast ap proaching R130bn, up from R100bn 18 months ago.

In what could be SA’s biggest auction, two Johannesburg shopping centres are expect ed to fetch R700m when they go under the hammer in March.

Without incentives to attract foreign investors, Coega, SA’s premier industrial development zone, may never realise its full potential.

A winning bid of R12.2m brought the hammer down on the old Castellano-Beltrame factory in Woodbrook, East London at an auction this week.