THE South African listed property sector has seen a number of new listings over the past 18 months with historically low interest rates creating a conducive environment for new property vehicles.

Wednesday, 20 March 2013 12:37

Office space under pressure in year ahead

Property pundits agree that office property will remain the problematic sector in the next 12 to 18 months with dominant retail centres likely to be the best performers.

After several years of strong price growth in the listed property sector, most property pundits believe we can expect slower — albeit solid — growth this year from listed property stocks. Nevertheless there are still major opportunities for investors who want an investment that offers a steady income stream.

Reports abound of more and more South African companies doing business in Africa, but why are they not investing that money locally, are there challenges to making development work locally? Looking back over the last few quarters some disturbing stories have emerged.

South African listed property outperformed local bonds, equities and cash in 2012. Marc Wainer, CEO of Redefine Properties, says that 2013 will be another good year for listed property but it is unlikely to match the outperformance of 2012.

Redefine Properties today announced that Mike Flax has tendered his resignation as Non-executive Director of Redefine. Flax plans to focus on his personal property interests.

Redefine Properties today reported distribution growth of 7.2% on a like-for-like recurring income basis, meeting its forecast to investors for the year ended 31 August 2012. The total return to unitholders was 30% for the year.

Redefine has confirmed that its indicative offer to acquire the property assets of Fountainhead Property Trust remains on the table, unchanged, notwithstanding yesterday's counter offer for this portfolio.

Wednesday, 24 October 2012 08:03

Bidding war for Fountainhead begins

Growpoint, the JSE's biggest property company with a market capitalisation of about R44bn, on Tuesday started a bidding war against Redefine, the JSE's second biggest weighing in at about R29bn, for Fountainhead Property Trust's R10.3bn portfolio.

Friday, 12 October 2012 09:42

Fountainhead worth more, say analysts

Property analysts on Wednesday criticised Redefine Properties’ planned acquisition of Fountainhead Property Trust’s R11bn portfolio, suggesting that Fountainhead’s unitholders might be short-changed.

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