Cape property entrepreneur Stuart Chait has sold his interests in trendy Jo’burg work, live, play and shop precinct Melrose Arch to co-owner Amdec in a lucrative deal.

Redefine Properties has declared a distribution of 16 cents per linked unit for the quarter ending in February, which combined with the distribution of 15 cents for the quarter ending in November 2010, results in a total distribution of 31 cents per linked unit for the six months ended February 28.

Redefine Properties says it has concluded a framework agreement with Zenprop Property Holdings for the acquisition of seven high-quality investment properties.

The merger of ApexHi and Madison into Redefine in August 2009 was meant to create a flagship SA property fund.

JHI property services company has been awarded the management contracts for the property portfolios of Dipula Property Fund and Mergence Africa

Redefine Properties Limited has announced the appointment of executive director, David Rice as chief operating officer (COO) of the company and the resignation of Mike Flax and Brian Azizollahoff as executive directors

Redefine unitholders passed a resolution to change the frequency of income distributions from quarterly distributions to semi-annual distributions in respect of the six months ending February and August of each financial year

Property analysts have welcomed Hyprop Investments’ plans to buy its unlisted counterpart, Attfund Retail, saying the transaction is positive for the South African listed property sector in general.

Hyprop Investments has reached an in principle agreement with the Attfund Retail board to acquire the latter's entire issued capital for R8.986bn.

Redefine Properties International has acquired effective 50% holding in ITB FMZ Herzogenrath B.V. and effective 50% holding in ITB Baumarkt Schwandorf B.V.