Officially retired in June 2009, Gerald Leissner now plans to return to the SA listed property sector to run what could become the JSE’s sixth new real estate listing in 12 months, known as Arrowhead Properties

Property loan stock company Dipula Income Fund plans to make acquisitions of R1.5bn-R2bn in the next few years as it grows it portfolio with the aim of attracting new capital.

Although the listed property sector has performed exceptionally well this year, beating the JSE all share index on returns, expectations for next year are slightly muted given the lag between a turnaround in the economy and the sector.

The ups and downs in property shares look quite restrained compared with the equity market. In 2008, the property unit trusts (PUTs) had a negative return of 9,7% compared with a 23,2% decline in the all share index. The recovery was also less dramatic, with a total return of 18,7% in PUTs compared with a 32,1% return from equities in 2009.

Physical commercial property market has not weakened as much as the listed property sector.

Listed property unit trust Sycom Property Fund said yesterday it had acquired a 22,5% interest in an offshore property fund for R257,5m