Hyprop is the bluest of the property sector's blue chips. This follows a decade of payouts that have grown by an average of over 11%/year under CEO Pieter Prinsloo. Payouts grew by 18,4% to December, but are likely to slow to "only" about 14% this year. No wonder Hyprop is trading at a forward yield of about 5,3%, the lowest in the sector.

Hyprop is in the Madison stable and should be at the centre of major mergers this year, most likely with the sector's other retail giant, Grayprop, and possibly Resilient. Hyprop's reach is best understood by considering its premium portfolio of shopping centres.

Canal Walk in the Western Cape is situated in the fast-growing Century City precinct, directly accessible from the N1. More established centres in Johannesburg include Hyde Park and the Rosebank Mall. The newest shopping centre is on the KwaZulu Natal south coast, near the N2 freeway, at Shelly Beach. Also in Johannesburg, The Glen shopping centre takes advantage of a gap in the underserved southern suburbs, and is situated near affluent Glenvista and Mulbarton.