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.

Retail is set to be the top performing sector in South African commercial property sector and, with 35% of its diversified investment portfolio comprising retail property, Emira Property Fund is in good shape to benefit from this trendin 2014.

Wednesday, 11 December 2013 16:12

Festive retail gains still likely on last year

The festive period is an important time for retailers but, with economic growth being relatively muted, James Templeton, CEO of Emira Property Fund, says the retailers and shopping malls are going to have to work hard for their share of increasingly cautious spending this festive season.

Listed property sector should be able to perform better next year than it did this year, even with the threat of interest rates rising.

It's been 10 years since SA REIT (Real Estate Investment Trust) Emira Property Fund listed on the JSE on 28 November 2003.

Emira Property Fund has furthered its earnings-boosting participatory interest (PI) repurchase programme and optimised its cost of borrowings by taking advantage of low interest rates currently available in the money markets. 

Emira Property Fund successfully settled R400 million of three-month unsecured commercial paper (CP) and immediately issued R399 million of six-month unsecured CP and a new issue of R100 million three-month CP.

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