JAECKLE FLEISCHMANN & MUGEL, LLP
                                ATTORNEYS AT LAW
                 12 FOUNTAIN PLAZA BUFFALO, NEW YORK 14202-2292
                       TEL 716.856.0600 FAX 716.856.0432


                                                                       Exhibit 5

                               September 13, 2006


EastGroup Properties, Inc.
300 One Jackson Place
188 East Capitol Street
Jackson, Mississippi 39201

          Re:  Issuance  and Sale of  1,437,500  shares  of  common  stock  (the
               "Securities")  pursuant  to  an  Underwriting  Agreement  between
               EastGroup  Properties,  Inc. (the "Company") and Citigroup Global
               Markets Inc.

Ladies and Gentlemen:

     As your counsel we have examined the Underwriting Agreement,  the Company's
Registration  Statement  on Form S-3 (File No.  333-134959)  (the  "Registration
Statement") and the Company's Prospectus Supplement dated September 7, 2006 with
respect to the  Securities  and we are familiar with the  documents  referred to
therein  and  incorporated  therein  by  reference.  We have also  examined  the
Company's Articles of Incorporation,  as amended,  and Bylaws, as amended,  such
records of  proceedings  of the  Company as we deemed  material,  and such other
proceedings  of the  Company  as we deemed  necessary  for the  purpose  of this
opinion.

     We have examined the proceedings heretofore taken and we are informed as to
the  procedures  proposed to be followed by the Company in  connection  with the
authorization,  issuance  and  sale  of  the  Securities.  In  our  opinion  the
Securities  to be  issued  by the  Company  will be,  when  issued  and paid for
pursuant to the  Underwriting  Agreement,  the  Registration  Statement  and the
Prospectus  Supplement,  duly authorized for issuance by all necessary corporate
action and,  upon the  issuance  thereof in  accordance  with their  terms,  the
Securities will be legally issued, fully paid and non-assessable.

     We  consent to the  filing of this  opinion as an exhibit to the  Company's
Current  Report on Form 8-K and to all  references to our firm in the Prospectus
Supplement.

                                Very truly yours,

                                /s/ Jaeckle Fleischmann & Mugel, LLP