Developers are fetching record prices in a number of new luxury apartment buildings in sought-after areas of Cape Town and Johannesburg.

Shaun Rai is a Chief Executive Officer of Cape Empowerment Limited. He is also Executive Director of Ascension Property Limited.

Ascension Properties beat its portfolio growth target in its year ended June, with its property portfolio growing 46% to R3.7bn.

Black-controlled Rebosis Property Fund and Delta Property Fund have put their respective take-over bids for Ascension Properties on hold to avert a protracted bidding war for Ascension's lucrative R3.2bn portfolio of government-tenanted offices.

Delta Property Fund says it is entitled to a R10m break fee following Monday's announcement that Rebosis would acquire Ascension's management company for R150m.

JSE listed REIT Ascension Properties Limited today announced its acquisition of Surrey House in Johannesburg.  

Property income fund Ascension Properties Limited today reported an excellent set of results for the year ended 30 June 2013.  

Listed Property funds grow property portfolios in highly competitive market.

Since listing on 11 June 2012, Ascension’s property assets have increased by R1,5 billion to R2,3 billion.

Cape Empowerment Trust and African Alliance Properties have announced that they have sold their property portfolio