Real estate investors may well be tempted to stash their cash elsewhere in light of the disappointing income and share price performances delivered by JSE-listed property stocks this year. Few SA-based real estate investment trusts (Reits) have bucked the general trend. Fairvest Property Holdings is a notable exception. The company, which owns a R3bn portfolio of more than 40 retail centres that cater mostly for lower-income shoppers in townships and rural areas, last week reported dividend growth just short of 10% for the year to the end of June. That’s impressive in a recessionary climate, and nearly double the average 5.5% rise in dividend payouts expected from the sector as a whole this year. Moreover, Fairvest continues to shine on the capital growth front, notching up a share price gain of about 20% in the year to date versus the SA listed property index’s drop of 23% over the same time. "Fairvest’s distribution growth of 9.9% was perhaps the silver lining in what has been a p...

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