The latest round of results from listed property funds confirm that the sector has more than delivered on its earnings growth promises

Blue-chip listed property loan stock company Hyprop Investments on Tuesday reported an 18,2% surge in distributions to 130c for the six months to June.

Shopping centres contribute 11.7% to the growth in distribution, with the balance achieved mainly from interest earned as a result of the disposal of an investment in SA Retail Properties

Loss only 2% compared with 6% for shares

Property listings have dried up in the past year in the rising interest rate environment and analysts are not expecting to see any in the foreseeable future

Listed Property in South Africa is finding its way on to the buying lists of leading international pension fund/asset managers now that the sector is starting to offer the size and liquidity required by offshore investors

The price of listed property fund ApexHi's C units are up a staggering 245% in six months. Not too shabby a return for investors who bought the stock at listing in October 2006 as a higher-risk alternative to ApexHi's existing A and B units. C units closed at 280c on listing day and touched 690c/share last Wednesday.

Government-owned pension fund manager Public Investment Corporation (PIC) is expected to shake things up a tad in the listed property sector following its surprise takeover bid for Cape-based loan stock company CBS Property Portfolio

Big challenge is to find suitable properties

Bain, the US private equity fund that is paying R25bn for listed retail giant Edcon, may have struck a snag with the landlords of the 1m m² of retail space that Edcon occupies in shopping centres.