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Emira Property boosts stake in Transcend Residential

Emira Property Fund Ltd. increased its total shareholding in Transcend Residential Property Fund Ltd. to 34.9% after providing a 143.4 million rand funding facility to Transcend and investing 247.9 million rand in a vendor consideration placement by Transcend.

Emira said it is seeking to enhance its diversification into the residential property market through its investments in Transcend.

As of Dec. 28, US$1 was equivalent to 14.37 South African rand.