After offering South African investors phenomenal returns over the past 10 years, the SA Listed Property Index plummeted 11% in May 2013 to record the index’s third worst monthly decline since its 2002 launch. And it extended its losses over the first three weeks of June before posting a remarkable turnaround to end that month 4.4% to the good.

Approval obtained for Jasco to dispose of its head office to Genesis Properties

Approval of the sale of the Jasco Group’s head office property in Midrand has been passed and all conditions fulfilled, with transfer registering on 5 July 2013. Jasco entered into a sales agreement with Genesis Properties Ltd towards the end of 2012 to dispose of its Midrand Head Office property for an amount of R60m. 

Hyprop has been and remains involved in litigation with B&B Market Rooftops (Pty) Ltd (“B&B”) regarding the relocation of the Sunday Rooftop Market at Rosebank Mall (“the Mall”).  As a result, Hyprop has previously elected not to publicise certain material facts surrounding this matter.  

Nedbank contributes to South Africa becoming a nation of savers

Many consumers continue to face increased and wide-ranging challenges in managing their finances, including the rising costs of their day to day necessities such as food, fuel, transport, electricity and other expenses. This, together with increasing levels of consumer indebtedness, potentially impacts on their ability to save, despite the willingness to change their circumstances. 

Listed property sector vulnerable, but longer term prospects good

South Africa’s listed property sector declined by 3.4% during the week that ended on 5 July 2013 on the back of higher global bond yields, a weaker Rand and the unwind of June’s quarter-end window dressing.