Total distributions for the nine months to May 13 are 36.6 cents per linked unit, an increase of 16.19%

Redefine Income Fund Limited, the fourth largest South African property company listed on the JSE Limited, today declared a distribution of 12.6 cents per linked unit for the three months to 31 May 2007, representing an increase of 18.87% over the 10.6 cents paid in the third quarter of 2006

Property listings have dried up in the past year in the rising interest rate environment and analysts are not expecting to see any in the foreseeable future

The Public Investment Corporation (PIC) has its sights set on becoming a major player in the R100bn listed property sector - which will no doubt prompt plenty of corporate action from the Government-owned pension fund manager over the coming months.

Listed Property in South Africa is finding its way on to the buying lists of leading international pension fund/asset managers now that the sector is starting to offer the size and liquidity required by offshore investors

SA's listed property funds are in a race for size that could leave the 26-fund, R94bn market cap sector with five or six giants and a few dwarves

A new national commercial property leasing business has emerged as a result of sector consolidation

Redefine attributed the strong performance to growth in the company's underlying property portfolio

Government-owned pension fund manager Public Investment Corporation (PIC) is expected to shake things up a tad in the listed property sector following its surprise takeover bid for Cape-based loan stock company CBS Property Portfolio

A bid by Redefine Income Fund to acquire CBS has been the source of market speculation for some time