A merger of Grayvest and Grayprop could result in a listed property fund with a market capitalisation of R2,2-billion, making it the JSE Securities Exchange SA's (JSE's) second-largest, following Liberty International.

TWO events shook the listed property sector of the JSE Securities Exchange SA last week: the merger between Grayprop and Grayvest, and Primegro's acquisition of Richway's retail properties.

Choice between unit trust or loan stock could reshape property sector IF GRAYPROP and Grayvest merge they will have to choose whether to house the newly created entity either in a property loan stock company or a property unit trust.