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.

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.

The local listed property sector declined by 0.7% in the first week of October, as international investor sentiment towards South Africa continued to deteriorate in the wake of further labour unrest. 

The capital raising by London listed Redefine International P.L.C has been a resounding success, attracting £127,500,000 from both its existing shareholders and a number of new institutional investors.

Unitholders of Fountainhead Property Trust will soon have the final say on the offer by Redefine Properties to acquire its R11 billion property portfolio.

Redefine Properties recently broke ground on its largest single building project to date, a 16 storey commercial building with over 19 000 m2 GLA of premium grade office space in Sandton. The new flagship office development is strategically located in close proximity to the main Gauteng transport nodes and the Sandton business hub

Redefine Properties has received Competition Tribunal approval for the acquisition of the Fountainhead Management Company and the proposed acquisition of the assets of Fountainhead; the latter some of which require 'defensive' investment

A Black Economic Empowerment (BEE) consortium led by co-founders and managers of Dipula Income Fund, Mergence and Dijalo, with broad-based partners, will buy 47% of Dipula B-units in issue from Redefine Properties

For the six months ended 29 February 2012 and on a comparable recurring income basis, a total distribution growth of 6.6% on the prior period occurred

BEE management consortium buys 50 million Dipula Income Fund B-units from Redefine Properties Limited