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Property News

ISAF Ithubalethu launches IPO for student accommodation  

By: Tasneem Bulbulia     21st January 2019 Inkunzi Student Accommodation Fund (ISAF) Ithubalethu is aiming to counter the shortage of affordable student accommodation, while enabling access to the property market for the general public, and delivering returns to investors, ISAF Ithubalethu CEO Owen Nkomo outlined on Monday, during a... 

Inside one of Joburg’s flagship urban renewal projects

By: Dylan Slater     18th January 2019 Urban property fund Divercity is helping City of Johannesburg mayor Herman Mashaba to realise his concept of restoring the Johannesburg central business district (CBD) to a degree of its former glory, as well as his wish to “turn Johannesburg into a construction site”, with old buildings being... 

Inside one of Joburg’s flagship urban renewal projects

First Oxford Parks building completed

By: Marleny Arnoldi     17th January 2019 Construction of the Oxford Parks development, in Rosebank, has progressed, with the first building, built by Concor Buildings to serve as the new head office of oil company BP South Africa, completed. The 4-star green rated building is part of Phase 1 of the Oxford Parks vision, which will... 

First Oxford Parks building completed
Oxford Parks Phase 1 building one - BP South Africa's head office

Johannesburg city council discovers almost R9m in lost revenue

By: African News Agency      17th January 2019 The Johannesburg city council says an operation in Fourways led to the discovery of almost R9-million in lost revenue due to illegal connections to services since 2015. "The three properties which were visited were also found not to have complied with the city's bylaws and were fined," it said of... 

Old Conradie hospital project could be 'make or break' for housing system, says Zille

By: News24Wire      17th January 2019 Western Cape Premier Helen Zille said the "pioneering" housing project expected at the site of the derelict old Conradie Hospital in Cape Town could "make or break" the current housing system. A R3-billion mixed-income residential project, set for the vast grounds of the old hospital could... 

EPP dominates listed property market with 21% return for 2018

By: Marleny Arnoldi     16th January 2019 JSE-listed retail property fund EPP has delivered a total return of 21% in 2018. The JSE’s benchmark property index SAPY recorded a total return of minus 25% for the year.  

EPP dominates listed property market with 21% return for 2018
EPP CEO Hadley Dean

Emira upgrades Denver warehouse

By: Tasneem Bulbulia     16th January 2019 JSE-listed Emira Property Fund is set to complete the total refurbishment of its 9 800 m2 warehouse facility, located in the industrial hub of Denver, Johannesburg, by March. Emira is investing R8.2-million in the revamp project. 

Mashaba seeks Treasury's intervention in R180m housing funding dispute with province  

By: African News Agency      10th January 2019 Joburg Mayor Herman Mashaba said on Thursday said that the City manager will be writing to the director-general of National Treasury, Dondo Mogajane, to seek their urgent intervention in the R180-million housing funding dispute with the Gauteng province. This comes after Mashaba and Meshack van... 

 Mashaba seeks Treasury's intervention in R180m housing funding dispute with province
City of Joburg Mayor Herman Mashaba

An improved focus on governance will drive confidence in South Africa’s Reits this year

By: Simone Liedtke     9th January 2019 The South African real estate investment trust (Reit) sector’s focus on improved corporate governance is expected to support positive sentiment for investment in listed property this year, says Anchor Stockbrokers real estate analyst Wynand Smit. He explains that the performance of local Reits in... 

An improved focus on governance will drive confidence in South Africa’s Reits this year
SA Reit Association marketing committee chairperson Andrea Taverna-Turisan

Texton’s shareholders vote against share repurchase

By: Tasneem Bulbulia     7th January 2019 Shareholders of Texton Property Fund have voted against the repurchase of shares in terms of the put option related to Texton’s 2014 broad-based black economic empowerment (BBBEE) deal, the company noted in a statement on Monday. Under the terms of the transaction, Texton Broadbased Empowerment... 

Texton’s shareholders vote against share repurchase
Texton CEO Marius Muller

Fourways office park goes solar

By: Tasneem Bulbulia     14th December 2018 To convert Willow Wood Office Park, in Fourways, Gauteng, to using solar energy, Heartwood Properties has partnered with SolarSaver, which offers a rent-to-own model that does not require any capital outlay, to reduce the building’s footprint and save on electricity costs. All indications are... 

Cape Town agrees to transfer R114.3m Salt River site for 10% of its value for housing

By: News24Wire      14th December 2018 The City of Cape Town has agreed, "in principle", to sell the Salt River Market site to a "social housing institution (SHI)" for 10% of its market value for an 820 unit mixed-use development, it announced on Thursday. "I'm elated by Council's decision to agree, in principle, to transfer this... 

Maluti Crescent Shopping Centre Phase 1 complete

By: Tasneem Bulbulia     14th December 2018 Maluti Crescent Shopping Centre, formerly Setsing Crescent in Phuthaditjhaba, in the Free State, has unveiled the first part of its major redevelopment and expansion undertaken by JSE-listed retail real estate investment trust Vukile Property Fund; and is well on track for its official launch on... 

Maluti Crescent Shopping Centre Phase 1 complete
Opening of the taxi rank L-R: Maluti Crescent community liaison officer Elias Mokoena, Vukile Property Fund’s Johan le Roux, Maluti Crescent Shopping Centre manager Jeffrey Motloung, Local Economic Development MMC at Maluti-a-Phofung local municipality Mojalefa Naledi, Maluti-a-Phofung local municipality mayor Gilbert Mokotso and Qwa Qwa United Taxi Association chairlady Matshidiso Rachel Nteu

Joburg preparing 84 inner-city buildings for housing partnerships

By: Schalk Burger     14th December 2018 The City of Johannesburg has identified and is preparing 84 buildings in and around the inner city of Johannesburg for use by private sector developers to build housing for 300 000 people in the city who do not have housing. City of Johannesburg mayor Herman Mashaba emphasises that the city... 

Emira highlights good demand, pricing for debt refinancing programme

By: Tasneem Bulbulia     13th December 2018 Emira Property Fund has, to date, successfully refinanced more than R1.2-billion of its debt maturing in the current financial year ending June 30, 2019, and is experiencing “keen demand and favourable pricing” in the process, the company noted in a statement on Thursday. In September, the... 

Emira highlights good demand, pricing for debt refinancing programme
Emira CFO Greg Booyens

Komatsu opens new central multimillion-rand campus  

13th December 2018 Komatsu Africa Holdings in November opened a new industrial hub, built to the tune of R985-million, in Germiston, in Johannesburg. Tasneem Bulbulia reports. 

Komatsu opens new central multimillion-rand campus
Komatsu opens new central multimillion-rand campus

Growthpoint prepares for Cape Town’s planned ban on wet waste at landfills  

By: Marleny Arnoldi     11th December 2018 JSE-listed real estate investment trust (Reit) Growthpoint Properties has partnered with Waste Transformers – an organisation based in Netherlands – to leverage end-of-pipeline food waste from the Reit’s shopping malls and to adopt a decentralised approach to organic waste. This comes ahead of... 

Growthpoint prepares for Cape Town’s planned ban on wet waste at landfills
Waste Transformer's aerobic digester at Growthpoint Properties' N1 City Mall

MAS acquires Atrium mall in Arad, Romania

By: Tasneem Bulbulia     10th December 2018 MAS has, through a subsidiary of PKM Investments, acquired the Atrium shopping centre in Arad, Romania, from Cosmovia Holdings. The acquisition forms part of the company’s acquisition pipeline in central and eastern Europe (CEE) and complements MAS’s income-generating portfolio of assets in the... 

MAS acquires Atrium mall in Arad, Romania
The Atrium shopping centre

Mashaba seeks to reignite entrepreneurship, address infrastructure challenges 

By: Marleny Arnoldi     10th December 2018 Johannesburg Mayor Herman Mashaba on Monday said the mayoral committee has approved another 100 buildings to be released for private sector development, as part of the metro’s inner city development programme. Following this, national government will give its stamp of approval and the... 

Mashaba seeks to reignite entrepreneurship, address infrastructure challenges
Johannesburg Mayor Herman Mashaba discusses city shortfalls. Video and editing: Nicholas Boyd

Construction company working on projects in Cape Town

7th December 2018 Despite the troubled times in the construction industry, construction company Concor Western Cape continues with a range of quality projects in and around Cape Town, where the company’s indelible stamp on the city is its legacy. “Our close relationship to developers, consultants and other clients... 

Construction company working on projects in Cape Town
HIGH UP Crane lifts add vital efficiency to on-site logistics at Roscommon House

Confident outlook for local Reits in 2019

By: Marleny Arnoldi     6th December 2018 The South African real estate investment trust (Reit) sector is set to deliver double-digit returns to investors next year, says the SA Reit association. Catalyst Fund Managers adds that it expects the Reits’ performance in 2019 to be marked by positive total returns from the sector, largely... 

EPP reports solid increase in net property income amid good market conditions

By: Marleny Arnoldi     6th December 2018 JSE-listed Polish property company Echo Polska Properties (EPP) on Thursday reported a 37% year-on-year increase in net property income to £102-million for the nine months ended September 30. Earnings available for distribution amounted to 8.75c apiece and the company was on track to meet its... 

EPP reports solid increase in net property income amid good market conditions
EPP CEO Hadley Dean

Growthpoint provides R908m towards Growthpoint Australia office acquisition

By: Marleny Arnoldi     5th December 2018 JSE-listed real estate investment trust Growthpoint Properties will provide R908-million towards its subsidiary ASX-listed Growthpoint Properties Australia’s (GOZ’s) acquisition of the Bank of Queensland’s headquarters, in Brisbane. Growthpoint has a 66% shareholding in GOZ.  

Texton appoints Golding chairperson, Muller takes the reins as CEO

By: Creamer Media Reporter      4th December 2018 Texton Property Fund has appointed Marcel Golding chairperson and Marius Muller CEO, with immediate effect.   Golding succeeds Dempsey Naidoo, who was not available for re-election to the board. Golding has over 30 years of experience across sectors and industries, including as Deputy General... 

Texton appoints Golding chairperson, Muller takes the reins as CEO
Texton chairperson Marcel Golding

City of Joburg updates investors on inner city housing project opportunities

By: Schalk Burger     4th December 2018 The City of Johannesburg has identified and is preparing 84 buildings in and around the inner city of Johannesburg for use by private sector developers to build housing for 300 000 people in the city who do not have housing. At the council chambers on Tuesday, City of Johannesburg mayor Herman... 

Universities excel in Greenovate Property and Engineering Awards

By: Simone Liedtke     4th December 2018 The University of Cape Town (UCT) has won the Greenovate Property Award 2018 and the Greenovate Engineering Award 2018, taking top place in both streams of the prestigious Greenovate Awards.   

Universities excel in Greenovate Property and Engineering Awards
The winning UCT team in the Greenovate Property Awards category comprised Michael Inskip, Samantha Johnson and Morgan Knowles, supervised by Saul Nurick and Karen Le Jeune

Rebosis sells seven office assets to black-owned companies

By: Marleny Arnoldi     3rd December 2018 JSE-listed real estate investment trust (Reit) Rebosis Property Fund has, through its subsidiary Ascension Properties, entered into three sale and purchase agreements to dispose of seven properties in its office portfolio to various 100%-black-owned property developers. The disposals form part... 

City of Johannesburg works with private firm to develop affordable housing in Bramley

By: African News Agency      30th November 2018 The city of Johannesburg said on Friday the first phase of a development in Bramley in which its planning department had an imput was now complete. It said mayor Herman Mashaba would on Monday join Africrest Properties in opening the Village and Spark School Development in the suburb. 

Vukile declares 7.5% H1 dividend growth

By: Simone Liedtke     29th November 2018 JSE-listed Vukile Property Fund on Thursday reported a 7.5% growth in dividends to 78.1c a share for the six months ended September 30. This is in line with the company’s full-year guidance, CEO Laurence Rapp said. 

Arrowhead reduces vacancies despite constrained market conditions

By: Creamer Media Reporter      28th November 2018 Diversified real estate investment trust (Reit) Arrowhead Properties reduced its vacancies from 12.1% at the start of its 2018 financial year to 7.9% by the end of the year. This despite the fact that it had initially expected vacancies to increase to more than 13% in the financial year ended... 

Following Mandela’s management style will aid in land reform – Ramaphosa 

By: News24Wire      26th November 2018 President Cyril Ramaphosa invoked the management style of Nelson Mandela on Sunday evening when speaking of how the State would manage land reform, saying the matter needed to be addressed for SA to move forward. Ramaphosa was a guest at the Gauteng Conference of the South African Jewish Board of... 

 Following Mandela’s management style will aid in land reform – Ramaphosa
President Cyril Ramaphosa

Firm’s design breathes new life into industry

By: Simone Liedtke     23rd November 2018 Multidisciplinary consulting engineering firm Arup was commended for its finalist entry of the V&A Grain Silo Complex façade in the architectural category at the 2018 South African Steel Awards, held last month. The R500-million V&A Grain Silo project, once an agricultural silo for grain storage... 

Firm’s design breathes  new life into industry
CROWN JEWEL The V&A Grain Silo Complex project was once an agricultural silo for grain storage, and is now features prominently in the silo district development

Emira boosts US retail property portfolio with another acquisition

By: Simone Liedtke     22nd November 2018 Emira Property Fund on Thursday announced that it has grown its portfolio in the US to five value-orientated assets in thriving states. The JSE-listed real estate investment trust co-invests in the US with its in-country partner, Rainier Group of Companies. 

Emira boosts US retail property portfolio with another acquisition
Woodlands Square in Tampa, Florida

Stenprop on track to achieve multi-let transition goal over next two years

By: Simone Liedtke     22nd November 2018 Dual-listed property investment company Stenprop, which is focused on growing its multi-let industrial (MLI) portfolio, posted basic earnings of £13.2-million for the six months ended September 30. Net rental income of £16-million, excluding Switzerland, remained broadly flat compared with the... 

Education, Health, Public Works finances are in a bad way, says Auditor-General

By: Kim Cloete     22nd November 2018 Auditor-General Kimi Makwetu has warned that the financial health of the provincial departments of health, education and public works are in a bad way and need urgent intervention. “Urgent intervention is needed to prevent the collapse of these key service delivery departments,” said Makwetu in... 

Gemgrow delivers expected dividend growth for FY18

By: Marleny Arnoldi     21st November 2018 In line with guidance set, JSE-listed real estate investment trust Gemgrow Properties delivered dividend growth of 5% year-on-year to 106.91c apiece for A shares and 7% year-on-year to 78.7c apiece for B shares, for the financial year ended September 30. The company on Wednesday reported a... 

Gauteng government seeks help spending its RDP budget

By: News24Wire      21st November 2018 Gauteng Human Settlements MEC Uhuru Moiloa has plans to exhaust the RDP construction budget by the end of the financial year and he needs help. According to Moiloa, for the first time in his department's history, more than 50% of the budget was spent in the third quarter of the financial year. He... 

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