Weakness in the listed property sector may not necessarily be bad as it could woo new buyers.

Property unit trust giant Sycom Property Fund says it has concluded agreements for about R500m in property deals, which will increase its market capitalisation to about R2,2bn.

Grayprop interim results for the six months which ended on March 2003 were in line with expectation, showing no growth from the same 15c declared for the same period last year, according to the latest Provest property roundup.

AN INVESTMENT in ApexHi Properties in March 2001, when the company converted from a property unit trust (PUT) to a property loan stock (PLS), would have grown more than 70% (income and capital growth). 

Grayprop interim results for the six months which ended on March 2003 were in line with expectation, showing no growth from the same 15c declared for the same period last year, according to the latest Provest property roundup.

Property unit trust company Allan Gray Property Trust (Grayprop, GRY) declared a distribution for the six months ended March 31 of 15 cents per unit - in line with the forecast in the annual report.

Pangbourne Properties' move to increase its holdings of iFour linked units to 34% has sparked speculation that the group is looking to take out iFour's assets.

Property company Pangbourne Properties (PAP) has announced that it has agreed to collectively acquire from Growthpoint Properties and the Mine Employees Pension Fund (MEPF) 17.854 million iFour (IFR) linked units at 572 cents per linked unit for an aggregate consideration of R102.125-million.

Group has 68% retail sector exposure.

Wayne McCurrie is our regular Monday evening market commentator, but tonight we have him in a different role.