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Property News

Building pipeline in Aus sees Probuild contribute 60% of WBHO revenue

By: Irma Venter     17th November 2017 Wilson Bayly Holmes-Ovcon’s (WBHO’s) Australian subsidiary, Probuild, has been named the most active construction company in the country by the Australian Housing Industry Association Construction 100 Report. Probuild has jumped from fifth place last year to top spot, in terms of work procured. 

Construction company awarded R10m residential development contract

By: Simone Liedtke     17th November 2017 Construction company Motheo Infrastructure Contractors will use equipment – such as motor graders, 30 t excavators, compaction equipment and tipper trucks – to the value of about R10-million for its infrastructure contract at the South Hills integrated residential development in Johannesburg,... 

Construction company awarded R10m residential development contract
ARCHIE RUTHERFORD The South Hills project will have a positive impact on the local community

Landmark projects help Esor to improve performance in tough market

By: Dylan Slater     17th November 2017 Despite challenging market conditions and a deteriorating market environment for the six months ended August 31, JSE-listed civils and construction group Esor recorded a “significant improvement” in its finances, with profit before tax of R3.1-million, compared with a loss recorded in February.... 

Growthpoint makes operational management changes

     15th November 2017 Owing to a revised operational management structure, JSE-listed Growthpoint CEO Norbert Sasse will become group CEO, from March 1, 2018. Sasse’s primary focus will be on the strategic direction of the group, aligned with Growthpoint’s internationalisation strategy, and overseeing and representing... 

Dipula weathers ‘tough’ economic conditions to post 5.8% y/y growth in FY dividends

By: Megan van Wyngaardt     15th November 2017 JSE-listed diversified real estate investment trust (Reit) Dipula Income Fund has “overcome tough macroeconomic conditions” to post a 5.8% increase in combined dividends a share for the financial year ended August 31, driven entirely by organic growth. The Reit’s revenue edged over the... 

Gemgrow delivers maiden FY dividend under revamped property portfolio

By: Natasha Odendaal     15th November 2017 JSE-listed Gemgrow Properties has declared a full-year dividend, exceeding its earlier forecasts, of 73.51c for each B share and 101.87c for each A share as the real estate investment trust (Reit) delivered its maiden full-year results with a reconstituted property portfolio. The Reit, previously... 

New acquisition boosts Dipula’s portfolio value to R8.5bn

By: Natasha Odendaal     10th November 2017 JSE-listed real estate investment trust Dipula Income Fund plans to acquire a mixed portfolio from an undisclosed seller for R1.27-billion. The portfolio comprises two retail properties in Gauteng, namely Chilli Lane and Chilli on Top, boasting an aggregate 18 433 m² of space; five office... 

New council announced by architectural body

By: Dylan Slater     10th November 2017 The South African Council for the Landscape Architectural Profession (Saclap) recently annouced its new four-year council, as appointed by Department of Public Works Minister Nathi Nhleko. Council members will serve a four year term of office from September 1, 2017, to August 31, 2021.  

Telkom appoints CEO of property management unit

By: Megan van Wyngaardt     9th November 2017 Telecommunications group Telkom has appointed Lesiba Maloba as CEO of its property management business unit, Gyro Group, from November 13. Gyro was established on April 1 to unlock value by commercialising the Telkom property portfolio, extracting value from excess building capacity and... 

Rebosis’ portfolio expands by 45.3% in FY17

By: Anine Kilian     9th November 2017 JSE-listed Rebosis Property Fund grew its portfolio by 45.3% to R18.82-billion in the financial year ended August 31. The growth is attributed to the acquisitions of the Baywest Mall and Forest Hill City shopping centres. 

Indluplace delivers on FY targets

By: Anine Kilian     8th November 2017 Despite tough market conditions, JSE-listed real estate investment trust (Reit) Indluplace Properties had a “very good year” in the 12 months to September 30, with CEO Carel de Wit stating that the company had grown its diversified portfolio and proved to be a significant player in the provision... 

Redefine expands Poland portfolio

By: Natasha Odendaal     6th November 2017 As JSE-listed Redefine Properties implements several small incremental adjustments to withstand the current economic headwinds, the real estate investment trust (Reit) is in the midst of concluding a strategic acquisition that will expand its international footprint further. Redefine will buy a... 

Redefine FY17 distribution up 7% y/y

By: Natasha Odendaal     6th November 2017 JSE-listed real estate investment trust (Reit) Redefine Properties on Monday posted a full-year distribution of 92c a share for the year ended August 31, representing year-on-year growth of 7%. The group’s distributable income in rand terms increased by 22.2% to R4.8-billion during the year under... 

Redefine FY17 distribution up 7% y/y
Redefine CEO Andrew Konig

Equipment supplier provides spare-part warehousing solution

By: Nica Schreuder     3rd November 2017 Owing to increasing demand for improved quality and the availability of production operations, metallurgical plant and equipment supplier SMS group provides consignment stock or warehousing facilities for their operational and insurance spare parts and components. “The service enables customers... 

Equipment supplier provides spare-part warehousing solution
Photo by Duane Daws
SPARE PART GUARANTEE A constant supply of spare parts for clients will reduce downtime

Company completes second sustainable storage project

     3rd November 2017 Self-storage solutions company Stor-Age earlier this year installed a complete solar photovoltaic (PV) system for the generation of its three-phase power requirements at its Tokai store in the Western Cape. This is the second store in Stor-Age’s portfolio to be fitted with PV panels, and forms... 

Company completes second sustainable storage project
Photo by Bloomberg
SUSTAINABLE STORAGE Stor-Age aims to create sustainable infrastructure with minimal damage to the environment

Logistics property fund seeking development opportunities in South Africa, UK

By: Mia Breytenbach     3rd November 2017 JSE-listed specialist logistics property developer and landlord Equites Property Fund, which has a R1.3-billion development pipeline in progress, is pursuing various development opportunities, in South Africa and in the UK. Equites’ local growth strategy is focused on the development of... 

Logistics property fund seeking development  opportunities in South Africa, UK
LET PORTFOLIO Equites Property Fund has completed the 28 527 m2 distribution centre and head office for Röhlig-Grindrod, in Meadowview, which is being let on a ten-year lease

New Bloemfontein student residence to open its doors in January

By: Creamer Media Reporter      2nd November 2017 A R120-million, 469-bed student accommodation development built by Respublica Student Living Fund, in Bloemfontein, will be ready for occupation in January 2018.   The residence includes 58 apartments, each with eight single rooms, two bathrooms, a lounge/dining area and communal kitchen. The... 

New Bloemfontein student residence to open its doors in January

Lanseria to be site of new airport city development

By: Keith Campbell     31st October 2017 Gauteng Premier David Makhura has highlighted the importance of Lanseria International Airport, and planned projects around it, for the development of the north-west quarter of the province. He was delivering the keynote address at the official opening of the new Control Tower and Fire Station... 

Octodec delivers muted FY17 results

By: Natasha Odendaal     31st October 2017 JSE-listed real estate investment trust (Reit) Octodec Investments on Tuesday posted a muted 0.8% growth in distribution for the 2017 financial year, in part owing to a sluggish economy and a more difficult second half. Despite a strong start in the first half of the year, a weak second half... 

Weak demand impacts on industrial property, office rentals – Rode

By: Anine Kilian     30th October 2017 A lack of vigour may be the best way to describe the current performance across the full spectrum of property in South Africa, says property economist Erwin Rode. In the industrial property sector, contractions in spending on durable goods are impacting on the demand for locally manufactured... 

First student accommodation-focused Reit to list on JSE

By: Anine Kilian     25th October 2017 Real estate investment trust (Reit) Inkunzi Student Accommodation Fund (Isaf), which will list on the JSE in November, will acquire nine purpose-built, student accommodation assets valued at R1.7-billion. The acquisition will be settled through a combination of debt financing, at 25% of the... 

First student accommodation-focused Reit to list on JSE

Calgro M3 secures R387m in funding

By: Creamer Media Reporter      25th October 2017 Housing developer Calgro M3 has secured its first international funding – a R387-million facility – that will be used to help fund the delivery of the group’s low-income housing units in its secured pipeline in priority urban development areas. Calgro M3’s current pipeline stands at... 

Attacq appoints interim CEO

     24th October 2017 JSE-listed Attacq has appointed Melt Hamman, its current CFO, to also serve as interim CEO when Morne Wilken steps down on December 31. Hamman will hold the position of interim CEO until a new CEO is appointed. 

Construction companies warned on compliance

By: African News Agency      20th October 2017 Labour Minister Mildred Oliphant has warned construction companies to comply with South Africa’s labour laws or face being shut down. Oliphant’s warning came after she visited a construction site where 400 housing units were being built in Rustenburg, North West. 

Company expands African footprint to pursue major projects

By: Robyn Wilkinson     20th October 2017 Despite slowing economic growth, political challenges and associated declining investor confidence in many parts of Africa, global project management consultancy Turner & Townsend continues to strengthen its network on the continent as it pursues major projects in mining, oil and gas,... 

Company expands African footprint to pursue major projects
STRATEGIC BASE With several of Turner & Townsend’s multinational clients based in Nairobi, the city was an obvious choice for the location of a new hub

BAIC implementing catch-up strategy to meet 2018 Coega deadline

By: Dylan Slater     20th October 2017 China-based vehicle manufacturer Beijing Automotive Group (BAIC), is accelerating some of its construction plans for its vehicle manufacturing plant, currently under construction at the Port Elizabeth-based Coega Industrial Development Zone, to catch up on delays incurred owing to primarily... 

BAIC implementing catch-up strategy to meet 2018 Coega deadline
PORT ELIZABETH FACTORY In the foreground of the newly completed steel superstructure are BAIC vehicles that will be available in South Africa once production reaches full capacity

Property developer launches SA’s first dual-certified property portfolio

By: Mia Breytenbach     20th October 2017 Real estate investment trust (Reit) Growthpoint Properties has launched the first and only property portfolio in South Africa to be highly rated by the South African Property Owners Association (Sapoa) and the Green Building Council South Africa (GBCSA). The Thrive Portfolio combines quality and... 

Property developer launches SA’s first dual-certified property portfolio
WRAPPING UP Growthpoint Properties is nearing completion on the 112 000 m2 office development for Discovery, in Sandton

Atterbury consolidates headquarters in Pretoria

By: Natasha Odendaal     19th October 2017 International property developer and investor Atterbury has consolidated its two Gauteng branches into a single regional headquarters at the Die Klubhuis, housed within the Pretoria precinct development, The Club. The move included its major businesses Atterbury Asset Management, Atterbury... 

Steel and Vanadium complex finds new life as industrial park 

     19th October 2017 A closed steel complex in Mpumalanga is finding new vigour as an industrial park, by focusing on providing key facilities for specialist services companies. 

Steel and Vanadium complex finds new life as industrial park
Steel and Vanadium complex finds new life as industrial park

Wilken to join MAS Real Estate as CEO

By: Anine Kilian     18th October 2017 Morné Wilken has been appointed CEO of JSE-listed MAS Real Estate, effective January 1, 2018. Lukas Nakos will continue as CEO until Wilken takes up his position. 

Construction starts on new R500m office tower development

By: Mia Breytenbach     13th October 2017 Local property developer Abland and joint venture partners Ellerine Brothers have started development of the 35 Lower Long office tower in Cape Town, in the Western Cape. The four-star green building will be situated on Lower Long Street, in the City Bowl. The 24-storey office tower will replace... 

Construction starts on new R500m office tower development
ENVISAGED DESIGN The building will have a modern look, characterised by dynamic glazed façades of floor–to-ceiling heights

Equites’ logistics focus proves resilient in H1

By: Mia Breytenbach     12th October 2017 JSE-listed specialist logistics property developer and landlord Equites Property Fund’s distributions a share for the six months to August 31, increased by 12.02% year-on-year to 60.98c, which is at the upper end of the company’s guidance of 10% to 12% distribution growth for the 2018 financial... 

Equites’ logistics focus proves resilient in H1

Echo Polska acquires Polish retail property portfolio

By: Schalk Burger     11th October 2017 JSE-listed Echo Polska Properties has acquired a portfolio of 12 retail properties – of which eight are shopping centres and four are retail parks, with more than 620 stores – across Poland. The portfolio has an aggregate gross lettable area (GLA) of about 450 000 m2 – doubling the GLA of Echo... 

Durban Point developer sues water sports clubs for millions in damages

By: News24Wire      9th October 2017 The Durban Point Development Company (DPDC), which has gone to court to evict two water sports clubs accusing them of standing in the way of a R35-billion upgrade of the harbour-mouth area near Vetch's beach, has turned up the legal heat and issued a summons for "special" damages of more than... 

Geospatial products distributor launches world’s smallest image laser scanner locally

By: Mia Breytenbach     6th October 2017 Geospatial products distributor Aciel Geomatics has officially locally launched the Leica BLK360 imaging laser scanner – the world’s smallest and lightest image laser scanner. Aciel Geomatics, the appointed distributor for Switzerland-based Leica Geosystems AG, launched the scanner at the... 

Geospatial products distributor launches  world’s smallest image laser scanner locally
EASE OF USE The integration of the Leica BLK360 laser image scanner and Autodesk software streamlines the reality capture process

Transforming V&A’s grain silos into Africa’s largest contemporary art museum

By: Kim Cloete     6th October 2017 After four years of cutting, carving and engineering what at times seemed near impossible, the V&A Waterfront’s giant, historic grain silo has been transformed into the world’s largest museum dedicated to contemporary art from Africa. In an architectural and engineering feat, the nearly... 

Transforming V&A’s grain silos into Africa’s largest contemporary art museum

Residents furious as City of Cape Town awards controversial R1bn prime land tender 

By: News24Wire      5th October 2017 The City of Cape Town has awarded a controversial R1-billion tender to sell and transform stretches of its prime land between Clifton and Camps Bay - a move which residents feel will push up costs and start squeezing out those who can no longer afford to live there. The Clifton tender, which... 

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