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Property News

Rezidor opens first Park Inn by Radisson in Rwanda

By: Natasha Odendaal     26th May 2017 The Rezidor Hotel Group has continued its African growth momentum with the unveiling of its first Park Inn by Radisson in Kigali, Rwanda, which is its fifth in East Africa. The newest four-star hotel, which is the second to be opened in the region this year, brings the hotel group’s African and... 

Earthworks for 42 500 m2 office to start in August

     26th May 2017 Bulk earthworks for the 42 500 m2 property that hosts auditing and consulting firm Deloitte South Africa’s new Gauteng office is excepted to start in August, with construction expected to start in the fourth quarter of this year. Property development company Atterbury announced last month that it... 

Earthworks for 42 500 m2 office to start in August
ULTRA MODERN The premises has capacity for about 5 000 people and will consolidate Deloitte’s current Woodmead and Pretoria offices in a single central location

Property developer to unveil rental model at Boksburg development

By: Mia Breytenbach     26th May 2017 Residential property developer Balwin Properties will soon announce details of the rental model that the group will use in Boksburg and Linbro Park, in Gauteng, and in Pretoria. Balwin Properties CEO Stephen Brookes noted during the developer’s results presentation in Johannesburg earlier this... 

Property developer to unveil rental model at Boksburg development
PLEASING PERFORMANCE Balwin Properties’ The Polo Fields, which was launched in February, reached more than 300 presales

Vukile to actively pursue opportunity in Spain, sees through ‘momentous’ year

By: Mia Breytenbach     24th May 2017 JSE-listed real estate investment trust (Reit) Vukile, which on Wednesday posted a 7.1% year-on-year increase in its dividend to 156.75c a share for the year ended March 31, is actively evaluating opportunities in Spain to diversify its earnings stream and enhance its high-quality portfolio. CEO... 

Vukile to actively pursue opportunity in Spain, sees through ‘momentous’ year
Vukile Property Fund CEO Laurence Rapp

Arrowhead delivers higher H1 dividend

By: Natasha Odendaal     24th May 2017 JSE-listed residential real estate investment trust Arrowhead on Wednesday declared a dividend of 43.24c a share for the six months ended March 31, 2017 – representing a 6.01% increase year-on-year. The Reit is “solidly” on track to meet its full-year dividend forecast. 

Rezidor Group targets 60% jump in Africa hotels by 2020

By: Reuters     23rd May 2017 Sweden's Rezidor Group plans to increase by 60% the number of hotels it operates in sub-Saharan Africa to 120 in the next four years to take advantage of growing business travel, its regional head said on Tuesday. The company has been focusing on Africa due to growing demand for well-known... 

Gemgrow declares maiden dividend

By: Megan van Wyngaardt     17th May 2017 Real estate investment trust Gemgrow Properties declared a dividend of 24.85c per A share and 18.15c per B share in its maiden results for the six months ended March 31. Investment property increased from R2.4-billion to R4.3-billion for the six months, attributable to an asset exchange with... 

Dipula H1 distributable earnings up 9.5%

By: Megan van Wyngaardt     17th May 2017 Through “sweating its assets”, JSE-listed Dipula Income Fund achieved 9.5% organic growth in its distributable earnings for the six months ended February 28, to R194.2-million, which further resulted in an increase in combined dividends a share of 6.3%. The dividend attributable to A-shares... 

Balwin delivers solid year-end results, sustains property demand

By: Mia Breytenbach     15th May 2017 Residential property developer Balwin Properties has achieved a solid financial performance in the year ended February 28, with headline earnings a share and earnings a share up by 7% to 141c. The group’s profit for the period improved by 18% year-on-year to R661-million, while revenue rose 30%... 

Balwin delivers solid year-end results, sustains property demand
Balwin CEO Stephen Brookes

Cement and concrete affected by faltering construction industry

By: Tasneem Bulbulia     12th May 2017 The construction industry in South Africa – which is tied directly to the state of cement and concrete – is stuttering, but there is scope to improve, says chemicals solutions provider Chryso Southern Africa (Chryso) CEO Norman Seymore. It has been widely reported that the construction industry... 

Cement and concrete affected by faltering construction industry
Photo by Bloomberg
NOTHING CONCRETE A lack of major infrastructure projects in South Africa is negatively affecting the construction industry, thereby hindering the state of cement and concrete

Mitigating poorly laid concrete floors

By: Tasneem Bulbulia     12th May 2017 An element often overlooked by the construction industry when laying screeds for floor surfaces is the importance of laying concrete subfloors correctly for flooring suppliers, says interior flooring supplier and installer KBAC Flooring senior contracts manager Ian Duncan. He tells Engineering... 

Mitigating poorly laid concrete floors
Photo by Bloomberg
UNDER THE SURFACE Poorly laid concrete floors are problematic for flooring installers, who have to remedy this before laying floor coverings

Indluplace posts higher income, sees ample opportunity for growth

By: Megan van Wyngaardt     10th May 2017 JSE-listed residential real estate investment trust (Reit) Indluplace on Wednesday posted an increase in its distributable income for the half-year ended March 31, to R117-million, up from the prior year’s R110-million. The acquisition of Garden Views, a 64-unit complex in Randburg, in Gauteng,... 

No quick fixes to housing problems – City of Joburg

By: News24Wire      9th May 2017 City of Johannesburg officials are working with local councillors to address the demand for housing in Eldorado Park, following violent protests on Monday. “We recognise the frustrations of this community, following years of mismanagement and neglect in our city. We ask our residents for patience... 

Redefine confident of maintaining growth in future, even in uncertain environment

By: Megan van Wyngaardt     8th May 2017 JSE-listed Redefine Properties, which posted 7.5% distribution growth to 4.82c a share for the six months to February 28, on Monday said it was “well-poised to weather the coming storm” owing to its diversified asset platform. During a media briefing, CEO Andrew Konig outlined that the real... 

Asset management company launches new logistics facility

By: David Oliveira     5th May 2017 Asset management company Fortress Income Fund launched its 19 878 m2 Westlake View logistics park in March, further increasing the company’s warehousing and logistics development pipeline. The company currently has a gross leasable area of about one-million m2 that spans Gauteng, the Western Cape... 

Gauteng to spend R46-billion on infrastructure projects

By: Anine Kilian     4th May 2017 The Gauteng provincial government will spend R46-billion on infrastructure over the next three years, Premier David Makhura said on Thursday. Delivering the keynote address at the Gauteng Infrastructure Funding Summit, he said the investment would contribute significantly to economic empowerment,... 

Gauteng to spend R46-billion on infrastructure projects
Photo by Duane Daws
Gauteng Premier David Makhura

Housing projects to uplift military veterans

By: Megan van Wyngaardt     3rd May 2017 The Department of Human Settlements has allocated 30% of its budget for building military veterans’ houses to companies owned by military veterans. “No military veterans housing project will be implemented without the allocation of a certain percentage of the work to military veterans’... 

Octodec reports strong H1 growth, sets sights on geographic diversification 

By: Megan van Wyngaardt     2nd May 2017 JSE-listed real estate investment trust (Reit) Octodec achieved distribution growth of 6.5% year-on-year to 104.8c a share for the six months to February 28, despite low domestic economic growth. FD Anthony Stein told Engineering News Online that the strong distribution growth was underpinned by... 

Octodec reports strong H1 growth, sets sights on geographic diversification

Canada contributes R25m to help end spatial apartheid  

By: Anine Kilian     26th April 2017 Canada’s Deputy Minister of Global Affairs, Ian Shugart, on Wednesday announced a contribution of R25-million to the Equal Spaces: Social Housing to End Spatial Apartheid project, in South Africa. The project will be managed by Canadian nongovernmental organisation Rooftops Canada and will... 

Canada contributes R25m to help end spatial apartheid
Canada’s Deputy Minister of Global Affairs Ian Shugart

Tsogo Sun invests R220m in new Maputo hotel

By: Creamer Media Reporter      25th April 2017 Construction has started on Tsogo Sun’s new R220-million, 125-room StayEasy Maputo hotel, in Mozambique. The hotel, which will be completed by April 2018, is being built as part of a mixed-use development and will be located above the new Baia Mall that is under construction. 

Tsogo Sun invests R220m in new Maputo hotel

DA wants National Treasury to blacklist companies involved with Nkandla upgrades

By: African News Agency      25th April 2017 The leader of the Democratic Alliance (DA) Mmusi Maimane on Tuesday said not a single one of the 14 companies involved in the scandalous upgrades at Nkandla has been blacklisted, or “placed on the restricted supplier database”. “The Minister of Public Works Nathi Nhleko has revealed that 8 of the... 

DA wants National Treasury to blacklist companies involved with Nkandla upgrades
Photo by Duane Daws
DA leader Mmusi Maimane

Acquisitions add value to Rebosis’s interim results

By: Megan van Wyngaardt     24th April 2017 Despite the tough domestic economic environment, JSE-listed property company Rebosis declared a dividend of 60.80c apiece for the six months to February 28. This amounted to a 7.1% year-on-year growth, within the company’s 7% to 9% guidance for the full year. 

Plans unveiled for 300-m-tall Nairobi skyscraper

By: John Muchira     21st April 2017 Real estate company Hass Group has unveiled plans to build what will be Africa’s tallest skyscraper in Nairobi, Kenya. The $191-million Hass Tower will be built by China State Construction Engineering Corporation (CSCECC). It will be 300 m tall and will have 67 storeys. 

Sapoa says comments were ignored in new property Bill

By: Megan van Wyngaardt     20th April 2017 The South African Property Owners Association (Sapoa) says that while it supports the aims of the Property Practitioners Draft Bill, published for comment on March 31, the current version of the draft Bill does not take any of Sapoa’s previous recommendations into account. The Bill, which will... 

Asset manager launches latest logistics and warehousing facility 

     20th April 2017 Asset management Fortress Income Fund has launched its Westlake View logistics park, further increasing the companies warehousing and logistics development pipeline, which currently has a gross leasable area of about 1-million m2 that spans Gauteng, the Western Cape and KwaZulu-Natal.  

Asset manager launches latest logistics and warehousing facility
Asset manager launches latest logistics and warehousing facility

Abland starts earthworks at Atlantic Hills business park

By: Megan van Wyngaardt     19th April 2017 Earthworks and services installation have started for the first phase of a new 450 000 m2 industrial precinct in Durbanville, the Atlantic Hills business park, with the first tenant expected to take occupation in January 2018, construction company Abland says. The first phase will involve the... 

Abland starts earthworks at Atlantic Hills business park

Liberty Two Degrees refurbishments contribute to lower vacancies, higher turnover

By: Megan van Wyngaardt     13th April 2017 JSE-listed property fund Liberty Two Degrees (L2D) has signed a binding offer to lease the Nelson Mandela Square offices, comprising 6 350 m2, to an international tenant for five years. The rental obligation date of the lease agreement is from October 1 and will reduce the complex’s office space... 

South Africa’s property investment sector returns dropped to 11.1% in 2016

By: Creamer Media Reporter      13th April 2017 Rteurns in the South African property investment sector hit the lowest level since 2009 after falling from 13% in 2015 to 11.1% in 2016, a 190 basis point decline, the latest IPD South Africa Annual Property Index shows. NYSE-listed MSCI, which compiled the report, noted this week that “it was... 

Atterbury secures new R1bn-plus Deloitte office development tender

By: Natasha Odendaal     11th April 2017 Property investment and development business Atterbury has been awarded the tender to develop a new office for Deloitte in Waterfall City, in Midrand, Gauteng, as the audit firm consolidates its Johannesburg and Pretoria offices. The total estimated R1-billion-plus development cost is expected to... 

Atterbury secures new R1bn-plus Deloitte office development tender

Africa’s first Radisson RED hotel to open in V&A Waterfront Silo District

By: Creamer Media Reporter      10th April 2017 Africa’s first Radisson RED hotel is set to open in the third quarter of 2017 at the V&A Waterfront’s newly revamped Silo District, in Cape Town. The hotel chain, which successfully launched RED hotels in Brussels, Belgium, and Minneapolis, in the US, and with RED hotels in Campinas, Brazil, and... 

Engineers set benchmark in sustainable building

     7th April 2017 Multidisciplinary engineering consultancy WSP | Parsons Brinckerhoff has achieved the first Green Star rating in Namibia for FNB Namibia Holdings’ Parkside building.  

Engineers set benchmark  in sustainable building
Photo by Duane Daws
GREEN STAR BUILDING The building was awarded its 4-Star Green Star Office South Africa-Namibia ‘Design’ rating from the Green Building Council of South Africa

Pretoria property development to incorporate lagoon technology

By: David Oliveira     7th April 2017 Multinational water innovation company Crystal Lagoons has partnered with JSE-listed Balwin Properties to construct and operate South Africa’s first local Crystal Lagoon, a proprietary technology used to construct and maintain lagoons at low costs.   Balwin Properties’ new R4.2-billion The Blyde... 

Echo Polska raises R2.2bn in bookbuild

By: Megan van Wyngaardt     6th April 2017 JSE-listed Polish property group Echo Polska Properties (EPP) on Wednesday raised about R2.2-billion in an accelerated bookbuild through the placing of 118-million new shares at a price of R18.50 apiece. The capital will be used for previously announced acquisitions and for further acquisition... 

Economics now key driver of commercial rooftop solar adoption as supply stabilises - juwi

By: Terence Creamer     3rd April 2017 Renewable energy engineering, procurement and construction services group juwi Renewable Energies expects the commercial solar market in South Africa to undergo a significant shift in the coming months as independent power producers (IPPs) begin playing a more prominent role. CEO Greg Austin says... 

Economics now key driver of commercial rooftop solar adoption as supply stabilises - juwi
The rooftop solar photovoltaic facility at Growthpoint’s Brooklyn Mall

Cape Town's drastic plan for affordable housing

By: News24Wire      29th March 2017 The City of Cape Town wants the whole city to be declared a restructuring zone, which will allow for any suitable land to be used for social housing. It announced on Tuesday that about R101-billion was needed for another 650 000 housing opportunities over the next 20 years. 

Cape Town park earmarked for housing, work development 

By: Megan van Wyngaardt     24th March 2017 Plans are under way to develop 120 ha of the 240 ha Two Rivers Urban Park (TRUP), in Cape Town, into a mixed-use development to provide previously disadvantaged and lower-income families access to the central business district. The TRUP, located near the confluence of the city’s Liesbeek and... 

Atterbury to open new Ghana mall in April

By: Megan van Wyngaardt     24th March 2017 South African property development company Atterbury will open its fourth retail development in Ghana, the $95-million Kumasi City mall on April 20. The 18 500 m2 modern mall, with potential for a future 10 000 m2 expansion, will give the city of Kumasi its first one-stop building with shopping... 

Atterbury to open new Ghana mall in April
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