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Foschini Group builds on bumper 2019

Retailer The Foschini Group [JSE:TFG], whose brands include Foschini, American Swiss, and Markham occupying space in major centres, went against the prevailing retail trend by producing positive trading updates in a difficult economy. ... Full story

Truworths sales up 1.2% despite tough retail market

Retail tenant Truworths said on Wednesday sales for the 26 weeks to December grew by a mere 1.2% to R10.6 billion as it faced tough conditions in both Africa and UK markets.

Empty Retail space takes a toll as Massmart plans to close 34 DionWired and Masscash

Retailer Massmart, which is 51% owned by US giant Walmart, has announced plans of closing 23 Dion-Wired stores and 11 Masscash wholesale outlets, a move that lead to the loss of up to 1,440 jobs.

Edgars Store vacates from upmarket Rosebank Mall

Struggling clothing retailer Edcon Holdings, which owns Edgars Stores has decided to shut its doors at the trendy Rosebank Mall — owned by JSE-listed Hyprop Investments.

Vukile Property Fund lifts its dividend by 3.5%

Vukile Property Fund, SA’s eighth-largest real estate investment trust, increased its dividend for its half-year to September 2019 by 3.5 percent to 80.84c per share, in line with its market guidance.

Meet Eris Property Group's new chief exec - Barend de Loor

Serving as director of numerous property companies in Africa, the newly appointed CEO of Eris Property Group, Barend de Loor succeeds the long-standing CEO of 15 years, Warren Schultze.

It has not been an easy road, says Growthpoint Properties

As domestic tenants continue to downsize space, its sheer size and diversity on three continents have helped Growthpoint Properties lift the distributable income of 5.3% to R6.4bn for the year ended June.

Deal maker and Founder Marc Wainer retires from Redefine Properties

Redefine Properties today announced that its legendary founder and pioneering property investor and developer Marc Wainer retires from the company at the end of August 2019.

Gemgrow, Arrowhead shareholders approve R16 billion merger

Shareholders of Gemgrow Properties and Arrowhead Properties have approved the R16 billion merger of the two JSE-listed real estate investment trusts (Reits).

Rebosis and Delta marriage on its way down the aisle

With consolidation in the listed property sector now the leading story, Delta Property Fund and Rebosis Property Fund are coming together to form the largest black-owned listed property empire in South Africa.

Hyprop disposes Zambia's Manda Hill Shopping Centre to Growthpoint Investec

Retail-focused property company Hyprop Investments sold its interest in Manda Hill Shopping Centre located in Lusaka, Zambia to Growthpoint Investec African Properties (GIAP).

Equites acquires its ninth property in the UK

Equites Property Fund, an industrial property specialist, has acquired its ninth property in the UK, meaning that about one-third of its asset base is now in the region.

International and Residential exposure helps Emira distribution growth

Emira Property Fund declared a 3.1% increase in distributions for its financial year ended June 2019, thanks to a push into the USA and local residential rental market.

Fairvest abandons its merger offer for Safari while Comprop ups its stakes

Fairvest Property Holdings today said it has abandoned its friendly merger with shopping mall owner Safari Investments (JSE: SAR), while Cape Town-based Comprop ups the stakes.

SA Corporate Real Estate turns down takeover offers

SA Corporate Real Estate disclosed to the market on Monday that offers from competitors, Dipula Income Fund and Emira Property Fund were not in the best interests of the company.

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