South Africa's listed property sector rallied 2% last week as the Rand strengthened and bond yields fell.

LOCAL property companies looking to expand into Africa should consider doing so via joint ventures with seasoned developers on the continent, such as Atterbury, Alternative Real Estate fund manager Maurice Shapiro said on Thursday

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. 

Joining Atterbury Group’s African expansion, Hyprop Investments Limited has entered an agreement as a co-investor in Mauritian-based property investment company, Atterbury Africa Limited

Shopping centre fund, Hyprop, recently kicked off the redevelopment and extension of Rosebank Mall (formerly The Mall of Rosebank), which is set to considerably boost the Rosebank node and provide shoppers with a refreshed and modernised retail facility

In a busy period Hyprop advanced its strategy of growing its asset base with the approval of the Rosebank Mall redevelopment and by expansion into Africa through an investment in Atterbury Africa

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

JSE premier shopping centre fund, Hyprop, is well positioned to access alternative funding markets following recent rating by Moody’s Investor Services (“Moody’s”) of national scale long-term issuer A3.za and a short-term rating of Prime-2.za.

Oasis Group Holdings, the asset management group, has recommended to clients with Fountainhead units not to accept Redefine’s proposed acquisition of the property unit trust

Redefine views the acquisition of the Fountainhead management company as the key to Redefine being able to acquire the R10 billion of assets of Fountainhead, including further down the line disposal opportunities