Fairvest Property Holdings acquires R233.9 million retail property portfolio from Vukile Property Fund's subsidiary, MICC Properties.

Nedbank Corporate Property Finance in conjunction with Nedbank Capital has refinanced R450 000 000 of debt within MICC Properties (Pty) Ltd

Vukile acquires an office complex in West Street in Houghton, Johannesburg, for a total capital outlay of 33.9 million rand from African Life Assurance

The decrease in distribution growth is due to MICC selling off properties worth about R200m

Vukile Property Fund has made a firm offer to acquire the remaining 25% stake in MICC Property Income Fund that it does not already own.

The South African listed property sector is arguably the fastest-growing sector on the JSE, with about six new property funds having listed on the main board of the exchange in the past two years.

The listed property loan stock company reported a distribution of 41,5c a linked unit.

Although some listed property companies have recently considered aggressively growing their portfolios through hostile takeover bids, such opportunities are limited in the medium term, property commentators say.

Growth in distributions, decrease in vacancies and revaluation of assets

Provest Private Clients' Chris Hansen gives the outlook for 2005