New Europe Property Investments achieves 17.59 euro cents in recurring distributable earnings per share in the six months ended 30 June 2015.

New Europe Property Investments grows its recurring distributable earnings per share 24% year on year in the first half of this year, thanks to acquisitions and developments.

According to Catalyst Fund Managers, the SA Listed Property Index (SAPY) recorded a positive return of 5.14% for the month ended July 2015.

Fortress is expected this week to make a firm offer to Capital Property Fund’s shareholders to take over the fund after expressing an interest in a takeover since May.

The SA Listed Property Index (J253) recorded a return of -0.36% for the month ended June 2015.

Western Cape-based Tower Property Fund is branching out overseas along with several other SA property companies, but analysts warn that these markets come with their own challenges.

Property fundamentals in SA remain challenging, but strong capital markets and lower yields for longer will be supportive of listed real-estate performance.

Jeffrey Zidel is an Independent Non-Executive Chairman of Fortress Income Fund Limited.

JSE-listed New Europe Property Investments has plans to expand its investments further into Serbia.

New Europe Property says it has concluded an agreement to acquire Promenada Mall in Bucharest Romania for EUR148m.