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Property News

Greater demand for transparency needed in African real estate industry

By: Simone Liedtke     20th September 2018 There is a growing acknowledgement of the central role that a transparent real estate sector plays in providing healthy, productive and competitive environments for communities and businesses, investment management company JLL global research head Jeremy Kelly said on Thursday. Market... 

Abland to develop combined-use Menlyn Maine Towers

By: Schalk Burger     19th September 2018 Property developer Abland will develop a combined motor dealership and premium office space, called Menlyn Maine Towers, in Pretoria, and aims to achieve a 4-star green rating accreditation with the Green Building Council of South Africa. The development for the Barloworld Toyota Menlyn... 

Tower Property acquires prime industrial property in Croatia

By: Simone Liedtke     17th September 2018 Tower Property Fund’s Croatian subsidiary TPF International has acquired a prime industrial property in Zagreb, Croatia, for nearly €8.6-million. TPF will fund the purchase price, which is payable in cash on the transfer date, using 60% cash and 40% shares. 

Texton appoints interim CEO

By: Simone Liedtke     17th September 2018 Marius Muller has been appointed interim CEO at JSE-listed Texton Property Fund. He takes over from Nosiphiwo Balfour. 

New road paves way into one of the biggest industrial estates in South Africa  

By: Marleny Arnoldi     17th September 2018 JSE-listed real estate investment trust Redefine Properties, together with Abland Property Developers, on Monday unveiled the completed new public road that will improve accessibility to the S&J industrial estate, situated along the N3 highway, south of Germiston, in Gauteng. The construction of... 

New road paves way into one of the biggest industrial estates in South Africa
S&J industrial estate, in Germiston Gauteng

Poland says door open for South African investors 

By: Simone Liedtke     14th September 2018 Poland is open for business and remains committed to open trade between Poland and South Africa, Polish Ambassador to South Africa Andrzej Kanthak said on Friday. Speaking to delegates at the JSE’s first country investment day, in Johannesburg, which focussed on business relations between South... 

Tongaat's Ntshongweni urban development gets go-ahead

By: African News Agency      12th September 2018 Agricultural group Tongaat Hulett says it has all approvals in place for its Ntshongweni urban development after 20 years of planning. Tongaat said on Tuesday breaking ground on the mixed use development was due to commence in the first quarter of 2019. 

Attacq delivers maiden distribution of 74c

By: Tasneem Bulbulia     11th September 2018 Real estate investment Trust (Reit) Attacq delivered a maiden distribution of 74c apiece for the financial year ended June 30, exceeding market guidance. This comes on the back of the company’s conversion to a Reit in May. 

Liberty Two Degrees harnesses experienced staff to drive asset efficiency

By: Marleny Arnoldi     10th September 2018 Precinct-focused real estate investment trust (Reit) Liberty Two Degrees (L2D) has added to its team of experienced asset managers, with Carmen Collison now managing the Eastgate shopping centre, in east Johannesburg. Collison previously managed retail assets across a number of listed... 

Stor-Age to acquire self-storage properties in major cities for R58m

By: Marleny Arnoldi     10th September 2018 JSE-listed real estate investment trust Stor-Age has entered into agreements to acquire Roeland Street Investments 2 (RSI2) and Roeland Street Investments 3 (RSI3), for R58-million. RSI2 is being sold by Acucap Investments – a subsidiary of Growthpoint Properties, Stor-Age Property Holdings... 

Fortress secures blue-chip tenant Vodacom for Louwlardia logistics park

By: Marleny Arnoldi     10th September 2018 Real estate investment trust Fortress has secured telecoms and services provider Vodacom as a new tenant at its Louwlardia logistics park development, in Centurion, Gauteng, on a five-year lease, with the option to renew for a further five years. Vodacom will occupy a 17 000 m2 warehouse at... 

There are deliberate attempts to sabotage government buildings – Nxesi

By: African News Agency      7th September 2018 There are deliberate acts to sabotage government buildings through arson, Public Works Minister, Thulas Nxesi, said on Friday. Nxesi was speaking at a media briefing in Pretoria, accompanied by Health Minister, Aaron Motsoaledi. 

 There are deliberate attempts to sabotage government buildings – Nxesi
Photo by Creamer Media
Public Works Minister Thulas Nxesi

EPP reports strong portfolio, income growth

By: Marleny Arnoldi     7th September 2018 JSE-listed Polish property company EPP has declared a distribution growth of 12% apiece to 5.82c for the six months ended June 30, compared with 5.19c in the first half of 2017, placing the company on track to deliver full year dividends of between 11.6 and 11.8c apiece. EPP’s results show... 

EPP reports strong portfolio, income growth
EPP CEO Hadley Dean

Aveng expects to wrap up noncore disposals by June 2019

By: Terence Creamer     7th September 2018 Embattled construction group Aveng expects to finalise the disposal of all noncore businesses by June 2019. Following a strategic review, the JSE-listed company identified Aveng Trident Steel, Aveng Grinaker-LTA, Aveng Manufacturing, as well as certain properties and other assets, for sale. 

Aveng expects to wrap up noncore disposals by June 2019

Green light for affordable Cape Town housing near V&A Waterfront

By: African News Agency      5th September 2018 Western Cape Premier Helen Zille on Tuesday said she "welcomed" the green light for affordable housing close to the V&A Waterfront in Cape Town. He comments follow the rezoning approval received by the provincial government to develop affordable housing on one of South Africa’s most valuable... 

Maiden's Cove development under fire

By: News24Wire      5th September 2018 A R1.5-billion plan by the City of Cape Town to develop Maiden's Cove – a scenic headland and beach between Clifton Fourth Beach and Glen Beach in Camps Bay – is facing a court challenge from City residents, GroundUp reports. The development of the cove area, devised in 2015, includes plans for... 

Distressed SA market to be offset by UK acquisitions, says WBHO

By: Irma Venter     4th September 2018 A South African construction company that still makes a profit is a rare sight these days, yet Wilson Bailey Holmes-Ovcon (WBHO) this financial year yet again managed to buck the depressing trend of failing domestic construction companies, owing largely to gains made in geographies outside South... 

Distressed SA market to be offset by UK acquisitions, says WBHO
Louwtjie Nel

Fairvest maintains solid results for FY18

By: Simone Liedtke     4th September 2018 South African real estate investment trust Fairvest Property on Tuesday announced solid results for the year ended June 30, with annual distributions increasing by just over 9.9% to 20.15c a share. Fairvest continues to deliver sector-beating growth in distributions, while advancing the portfolio... 

Hotel group Hilton opens $100m Society Business Park in Zambian capital

By: African News Agency      4th September 2018 Luxury hotel group Hilton has opened the refurbished 20-floor mixed-use development Society Business Park which houses Hilton Garden Inn in the Zambian capital Lusaka. In 2011, Zambia National Building Society (ZNBS) and the National Pension Scheme Authority (NAPSA) entered into a 20-year... 

Investec Property to develop R2bn mixed-use precinct at Wanderers Golf Club

By: African News Agency      3rd September 2018 The Wanderers Golf Club has unveiled plans to develop a R2-billion 1 ha mixed-use precinct in Johannesburg's northern suburbs located in Illovo, between Sandton and Rosebank, in partnership with Investec Property. The proposed development will include high-end commercial office space, luxury... 

Hyprop ‘ahead of the market’ with total dividend of 756.5c a share for FY18

By: Simone Liedtke     31st August 2018 JSE-listed real estate investment trust (Reit) Hyprop continued to deliver strong growth in a tough economic environment, with a total dividend a share of 756.5c declared for the financial year to June 30. This growth was 8.8% higher than in the prior financial year, the company said on Friday. 

Hyprop ‘ahead of the market’ with total dividend of 756.5c a share for FY18
Photo by Simone Liedtke
Hyprop executive director Wilhelm Nauta (left) and Hyprop CEO Pieter Prinsloo (right)

Braamfontein student accommodation project halted as contractor faces liquidation

By: Simone Liedtke     30th August 2018 Completion of the 17-storey Braamfontein South Point student accommodation project, in Jorissen street, will, most likely, be delayed by a year and only be ready in time for the start of the 2021 academic year, South Point CFO Johan Wheeler told Engineering News Online this week. Construction on... 

Growthpoint’s distributable income exceeds R6bn for the first time

By: Marleny Arnoldi     29th August 2018 Real estate investment trust Growthpoint Properties announced a 6.5% distribution growth for the year ended June 30, with a final dividend of R1.07 apiece declared, despite weak economic conditions and a competitive market in South Africa. Growthpoint South Africa CEO Estienne de Klerk pointed... 

Growthpoint’s distributable income exceeds R6bn for the first time
Photo by Dylan Slater
Growthpoint Properties group CEO Norbert Sasse

FutureSpace opens second instant-access workspace in Sandton

By: Marleny Arnoldi     29th August 2018 FutureSpace has launched its second workspace, after the first space reached near capacity in just over a year.   FutureSpace is a joint venture between Investec Property and workplace specialists Giant Leap.   The new instant-access space is located in Rivonia, Sandton, a few blocks down from... 

Gemgrow expands its retail property portfolio through R728m investment

By: Marleny Arnoldi     27th August 2018 Real estate investment trust Gemgrow has acquired an effective economic interest of 95% in Moolgem, for about R628-million, yielding 11.48%. The Moolgem portfolio comprises 85% retail, and has 26 properties in the Limpopo region, including retail centres Jane Furse Crossing and Game Centre.  

Uncertainty over land expropriation to deter investment – IHS Markit

By: Marleny Arnoldi     24th August 2018 The threat of land expropriation without compensation (EWC) is likely to deter investment up until the 2019 elections and a while afterwards, says global information provider IHS Markit. “Uncertainty over property rights is likely to deter fixed investment, limit government revenue and lower... 

Fortress builds on strong logistics portfolio, targets increased share distribution

By: Marleny Arnoldi     22nd August 2018 Real estate investment trust Fortress has reported an increase of 4.53% to 141.8c apiece for its A-share distribution for the year ended June 30, while its B-share distribution increased by 4.07% to 179c apiece. Fortress is active in high-growth nodes that have prime logistic warehousing,... 

Emira delivers positive FY18 performance with 2.53% distribution increase

By: Simone Liedtke     15th August 2018 Real estate investment trust (Reit) Emira Property Fund’s distributions for the financial year ended June 30, increased by 2.53% year-on-year, despite persistently tough trading conditions. This increase, CFO Greg Booyens said on Wednesday, reaffirms the company’s turnaround and return to... 

Freedom Property subsidiary sells noncore residential units

By: Anine Kilian     15th August 2018 Zambesa Investments, a wholly owned subsidiary of JSE-listed Freedom Property Fund, has agreed to sell eight residential units and 33 service stands, collectively called Tubatse Homes, in Burgersfort. The purchase consideration is R12.6-million and comprises a deposit of R2.52-million, which is... 

South African black property owners want certainty over land reform policy

By: African News Agency      15th August 2018 South Africa's black practitioners in the property development sector do not have any qualms about an amendment of the Constitution to expropriate land without compensation, but they want certainty over the policy and decisive action if it is to be implemented.  Nkuli Bogopa, president of the... 

City of Joburg makes 71 inner city properties available for private sector development

By: Marleny Arnoldi     14th August 2018 Johannesburg executive mayor Herman Mashaba has declared Johannesburg’s inner city open for business by putting 71 properties out to tender for private sector development into mixed-income housing, student accommodation and small business rental space. This forms part of City of Joburg’s inner... 

Futuregrowth, Citiq Treasury, Citiq Property Services merger gets green light

By: Marleny Arnoldi     13th August 2018 The Competition Tribunal has approved a merger between Futuregrowth Asset Management, Citiq Treasury and Citiq Property Services. Futuregrowth is the acting agent for Old Mutual Assurance company, wholly-owned by Old Mutual Investment Group Holdings.  

Property developer celebrates completion of R250m Sandton apartment skyscraper

By: Nadine James     10th August 2018 Property development company Masingita Group subsidiary Masingita Properties hosted a roof-wetting last month to celebrate the completion of its R250-million luxury apartment skyscraper, Masingita Towers, which is situated in West Road South near the Sandton central business district. The project... 

Property developer celebrates completion of R250m Sandton apartment skyscraper
Photo by Nadine James
MASINGITA TOWERS The development was completed on time and on budget last month

South Africa falls to 37th on International Property Rights Index

By: Marleny Arnoldi     8th August 2018 South Africa is now ranked thirty-seventh in the global property rights rankings of the International Property Rights Index, with its score having declined from seven in 2017, when the country ranked twenty-seventh, to 6.35 this year. This is the largest decline by any country measured, mostly... 

Development continues at Waterfall City 

8th August 2018 From Creamer Media in Johannesburg, this is the Real Economy Report. Sashnee Moodley: Construction and development of JSE-listed Attacq’s Waterfall City is ongoing, with new infrastructure including roads, residential properties and warehouses continuously in the pipeline. Anine Kilian tells us... 

Development continues at Waterfall City
Development continues at Waterfall City

Study says gender a challenge for female entrepreneurs in construction 

By: Irma Venter     7th August 2018 Women in the construction and related industries not only face discrimination while working for existing firms, but also when starting their own businesses, says Mercantile Bank. A recent study conducted on behalf of the institution found that 67% of female business owners surveyed in the... 

Study says gender a challenge for female entrepreneurs in construction

Equites acquires Simba logistics facility in Gauteng

By: Simone Liedtke     6th August 2018 Real estate investment trust Equites Property Fund has concluded an agreement to acquire a 40 428 m² distribution centre, let to Simba, from Investec Property Fund for about R461.9-million. The transaction is estimated to be effective from November 1, 2018. 

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