Giant insurer Old Mutual has struck a deal to buy Marriott, the Durban-based merchant bank, unit trust and property fund managers

Growpoint Properties, yesterday reported a 6% surge in distributions for the six months to December

WITH most listed property unit trusts and property loan stock firm s trading at a premium to net asset value, listed propert ies are now more expensive than direct property investments, says listed asset management firm Provest.

LISTED property group Growthpoint Properties, the largest property fund on the JSE Securities Exchange SA, yesterday reported a 4,7% increase in the interim distribution to 33,5c for each linked unit for the six months ended December 31 2003.

GROWTHPOINT Properties' management have moved to quell scepticism among some shareholders.

But an improving US growth rate could easily see an outflow of capital from the South African market

Interview with Derek Greenberg

Growthpoint Properties has acquired the Investec Sandton head office at 100 Grayston Drive and Investec's Cape Town foreshore building, as well as the use of 580 parking bays at Merchant Place Parkade, for a total consideration of R975 million.

But UK property prices could fall 30% without doing too much damage, claims bank.

Last month Credit Agricole Indosuez donated one of its buildings to the CIDA City Campus, a virtually free tertiary education facility for people from previously-disadvantaged backgrounds