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Property News

Stenprop buys another industrial estate

By: Creamer Media Reporter      6th August 2018 JSE-listed and UK-based multi-let industrial property investor Stenprop has acquired the Lombard Centre industrial estate, in Aberdeen, from Mayfair Capital for £3.25-million. The Lombard Centre is a modern estate with ten units, one of which is vacant. 

Group Five granted immunity from competition authorities for 15 construction projects 

By: Simone Liedtke     6th August 2018 The Competition Tribunal has approved a settlement agreement in terms of which construction company Group Five will receive immunity for cooperating with the Competition Commission’s investigation into the construction industry and disclosing its participation in 15 construction projects as a... 

Parkwood housing project in Cape Town gets under way

By: News24Wire      6th August 2018 A team of engineers, planners and designers is to visit seven sites next week where social and affordable housing will be built for backyarders in Parkwood and surrounding areas, GroundUp reports. This was announced by Western Cape MEC for Human Settlements Bonginkosi Madikizela at a joint... 

Octodec uplifts Tshwane CBD

By: Marleny Arnoldi     3rd August 2018 JSE listed real estate investment trust (Reit) Octodec has uplifted the Tshwane central business district (CBD) with various residential, commercial, office and retail developments, with the aim of providing safe, clean and productive environments for the citizens of the city. The latest... 

Octodec uplifts Tshwane CBD
Photo by Dylan Slater
Sharon's Place in Pretoria CBD

Value for money in sectional title properties

3rd August 2018 Despite challenging economic conditions, there are still opportunities for buyers and investors to purchase property in a desirable address at affordable prices, says leading estate agency Pam Golding. The company says savvy buyers with access to finance are buying up sectional title properties... 

Value for money in sectional title properties
ON THE MARKET This renovated two bedroom, two bathroom ground unit apartment in Morningside is on the market for R1.575 million through Pam Golding Properties

Internet connectivity increases property value

By: Melissa Zisengwe     3rd August 2018 Bundling WiFi connectivity is a commercial and industrial property value-proposition, which attracts potential buyers and boosts property value, says wireless networking company Ruckus Networks. “South African property developers are proving to be enthusiastic WiFi adopters because the... 

Internet connectivity increases property value
RIAAN GRAHAM says all property owners and tenants now expect functional and reliable Internet connection

Unique design solution for 92 Rivonia Road project

By: Melissa Zisengwe     3rd August 2018 Formwork and scaffolding manufacturer PERI South Africa was able to supply a unique design solution for the challenging 92 Rivonia Road mixed-use development. This allowed main contractor WBHO to come to grips with the striking ‘feature brows’ at the project, lead engineer: key and strategic... 

Unique design solution for 92 Rivonia Road project
A UNIQUE CHALLENGE The project was a major challenge from a structural and architectural point of view

Aveng to sell Jet Park, Vanderbijlpark properties

By: Creamer Media Reporter      2nd August 2018 Construction firm Aveng has reached agreements to sell its Jet Park and Vanderbijlpark properties for R211.2-million and R42.6-million, respectively. Aveng in February announced its decision to sell certain noncore assets and properties following a strategic review of the business. 

Vukile buys majority stake in Spanish property company

By: African News Agency      2nd August 2018 JSE-listed Vukile Property Fund announced on Thursday that it has acquired a controlling 51% stake in Morzal Properties Iberia in a bid to expand its property portfolio in Spain.  Last month, Vukile said it would be concluding an agreement to subscribe for shares in Morzal for an aggregate... 

Tower Property’s vacancies decrease amid improving consumer, business sentiment

By: Simone Liedtke     31st July 2018 An improvement in South African consumer and business sentiment in early 2018 contributed to real estate investment trust (Reit) Tower Property Fund’s vacancies reducing to 5% at the end of its financial year to May 31, after having reached a high of 12% in January. However, in order to secure... 

Specialist team to get the ball rolling for housing opportunities in Cape Town

By: News24Wire      30th July 2018 A resolution passed by City of Cape Town council earlier this week is expected to get the ball rolling in expediting housing opportunities across the city. According to a statement by the City of Cape Town, the city's Transport and Urban Development Authority (TDA) will now conclude the four... 

Pretoria hotel adds 86 rooms, restaurant, conference facilities

By: Marleny Arnoldi     27th July 2018 Protea Hotels by Marriott Pretoria Hatfield this week opened an additional wing with 86 rooms and enhanced facilities, following the completion of a major construction project that started in mid-2017. This is in line with Pretoria’s growth in demand for quality accommodation that Protea Hotels... 

Pretoria hotel adds 86 rooms, restaurant, conference facilities
Protea Hotels by Marriott Pretoria Hatfield

New property fund aims to renew South Africa’s cities

By: Marleny Arnoldi     25th July 2018 Divercity Urban Property Fund is seeking to renew and re-energise South Africa’s urban centres, and is backed by the experience of leading property specialists and a R2-billion seed portfolio of landmark property assets. Divercity’s biggest shareholders are Atterbury Group and Ithemba Property,... 

Vukile’s Castellana lists on Spanish Stock Exchange

By: Marleny Arnoldi     25th July 2018 JSE-listed real estate investment trust Vukile Property Fund’s 98%-owned Spanish subsidiary Castellana Properties on Wednesday listed on the Spanish Stock Exhange’s Mercado Alternativo Bursátil. The shares were listed at an introductory price of €6 apiece, which attributes a market... 

Liberty Two Degrees declares 29c dividend for H1, finalising corporate move

By: Marleny Arnoldi     23rd July 2018 Retail-focused real estate investment trust (Reit) Liberty Two Degrees (L2D) has declared a distribution of 29.3c apiece for the six months ended June 30, in line with expectations and despite a challenging environment. As a result of the acquisition of additional undivided shares of... 

Emira to start leasing The Bolton apartments in Rosebank from August

By: Marleny Arnoldi     20th July 2018 JSE-listed real estate investment trust Emira Property Fund’s R200-million The Bolton apartment block, in Rosebank, will start welcoming its first residents in August. Emira converted an office property block formerly occupied by petrochemicals giant Sasol into a contemporary residential... 

Emira to start leasing The Bolton apartments in Rosebank from August
Emira Property Fund's apartment interior at The Bolton in Rosebank

SA’s ambitious Youth Employment Service starts taking shape 

By: Marleny Arnoldi     20th July 2018 The Youth Employment Service (YES) aims to create one-million jobs within three years to help alleviate the situation of six-million unemployed youths in South Africa, 60% of whom reside in townships and rural areas. YES was established by the CEO Initiative, which is a partnership created... 

SA’s ambitious Youth Employment Service starts taking shape
YES CEO Tasmia Ismail-Saville discusses the first hub opening and company involvement towards the initiative. Camerawork and Editing: Nicholas Boyd.

Stenprop sells Swiss properties

By: Creamer Media Reporter      19th July 2018 JSE- and LSE-listed Stenprop has completed the sale of two of its properties, Altendorf and Arlesheim, in Switzerland, as part of its strategy of positioning itself as a specialised UK multi-let industrial real estate investment trust. The two properties were sold to Helvetica Swiss Commercial. 

WBHO grows its UK presence

By: Creamer Media Reporter      19th July 2018 Wilson Bayly Holmes-Ovcon (WBHO) subsidiary WBHO UK has acquired a 60% stake in UK construction business Russells for £32.8-million, as well as a 31.7% stake in Russell Homes for £3.25-million. Russells provides design, installation and project management capabilities in the UK construction... 

WBHO grows its UK presence

First African company announces science-based greenhouse gas target

By: African News Agency      19th July 2018 Emira Property Fund has become the first African and South African company to have a greenhouse gas emissions target approved by the Science Based Targets initiative (SBTi). The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute and the World... 

Vukile raises R1.63bn, acquires new properties in Spain

By: Anine Kilian     18th July 2018 JSE-listed Vukile Property Fund, which is expanding its presence in Spain, has raised about R1.63-billion through the issue of new shares. Of the total, R1.38-billion was raised through an accelerated bookbuild process that was open to selected investors. 

Calgro M3 expands Memorial Parks business

By: Anine Kilian     18th July 2018 JSE-listed property and property related investment holding company Calgro M3 has expanded its Memorial Parks business to two more provinces – the Western Cape and the Free State. This increases the number of memorial parks owned and managed by the group to five, with further plans to acquire... 

Growthpoint shares start trading on A2X

By: Creamer Media Reporter      18th July 2018 Real estate investment trust Growthpoint Properties’ shares began trading on the A2X on Wednesday. Growthpoint retains its primary listing on the JSE. 

Grit to seek LSE listing, raise $120m for acquisitions

By: Creamer Media Reporter      17th July 2018 Pan-African real estate company Grit Real Estate Income Group plans to list on the LSE. The company, which is focused on real estate investment assets in selected African countries, is already listed on the JSE, as well as the Stock Exchange of Mauritius. 

Stenprop acquires industrial estate for £3.1m

By: Creamer Media Reporter      13th July 2018 JSE- and LSE-listed industrial property investor Stenprop has acquired an industrial estate in Newport, South Wales, from Storage Giant for £3.1-million. Estuary Court is a modern estate, located in the established industrial location of Queensway Meadows. It comprises 20 units offering 34 980... 

Property sector must do more on transformation – PSCC

By: Schalk Burger     12th July 2018 The South African property sector is making reasonable efforts towards transformation, but it needs to pick up the pace, says the Property Sector Charter Council (PSCC). The PSCC this week released the results of its ‘2016-2017 State of Transformation Report’, which sampled institutional... 

Growthpoint to become the first property company to list on A2X

By: Creamer Media Reporter      11th July 2018 Real estate investment trust Growthpoint Properties will be the first property company to take up a secondary listing on A2X – a licensed stock exchange that provides a secondary listing venue for companies. The company, which manages a portfolio of commercial, retail and industrial property... 

Egypt wants $500m from World Bank

By: African News Agency      11th July 2018 Egypt’s Ministry of Investment and International Cooperation has held discussions with the World Bank for an additional $500-million loan for the country’s social housing projects targeting low-income households, according to an official ministry statement. The discussions were held on Tuesday... 

Growthpoint Properties Australia outperforms major share market indexes

By: Marleny Arnoldi     10th July 2018 Growthpoint Properties subsidiary Growthpoint Properties Australia’s (GOZ’s) total returns have outpaced the major Australian real estate investment trust and share market indexes.  

Growthpoint Properties Australia outperforms major share market indexes
Growthpoint CEO Norbert Sasse

Vantage Capital invests $10m on property in Mauritius

By: African News Agency      9th July 2018 Fund managers Vantage Capital has provided $10-million of mezzanine funding to Cap Tamarin, a mixed-used, residentally-focused smart village located on the sought-after west coast of Mauritius. Cap Tamarin will feature innovation centres to support start-ups, small and medium enterprises and... 

Growthpoint launches new trading, development business unit

By: Simone Liedtke     3rd July 2018 International property company Growthpoint Properties has formed a dedicated trading and development business unit. This new specialised division, the company explained on Tuesday, will play a key role in creating “excellent business opportunities for the company and world-class premises for its... 

Growthpoint launches new trading, development business unit
Growthpoint’s new chief investment and development officer Rudolf Pienaar

More than R650m budgeted to prepare Gauteng land for expropriation   

By: Anine Kilian     2nd July 2018 The Department of Human Settlements has budgeted more than R650-million to prepare identified portions of land in Gauteng for expropriation without compensation. Human Settlements MEC Dikgang Uhuru Moiloa said on Monday that the province’s rapid land release programme, launched in May, would... 

More than R650m budgeted to prepare Gauteng land for expropriation
Human Settlements MEC Dikgang Uhuru Moiloa talks about land expropriation without compensation

Group Five relocates in effort to cut costs, secures early work on PPP

By: Irma Venter     2nd July 2018 Cash-strapped construction firm Group Five has relocated its offices as part of an effort to cut costs. The JSE-listed group said on Monday that its South African construction operations had been relocated to Spartan, on the East Rand, to owner-occupied premises. 

Group Five relocates in effort to cut costs, secures early work on PPP

Offshore property investment a big opportunity for South African Reits

By: Nadine James     29th June 2018 The global sell-off in emerging markets, an intractably weak domestic economy, an oversupply of business space and a focus on the quality of earnings are all set to be major drivers of South Africa’s real estate investment trust (Reit) sector in the second half of this year, the SA Reit... 

EPP on solid growth path with strong Q1 operational performance

By: Anine Kilian     25th June 2018 JSE-listed Polish property company EPP successfully bought the first tranche of the M1 portfolio, comprising four properties in sought after regions, adding 194 000 m² in gross lettable area (GLA) and taking total income producing assets to over €2-billion in the quarter ended March 31. The M1... 

100 Resilient Cities appoints Dana Omran as MD for Africa

By: Marleny Arnoldi     25th June 2018 Dana Omran has been appointed Africa MD for the Rockefeller Foundation’s 100 Resilient Cities (100RC) programme.  

Western Cape govt identifies 7 possible affordable housing sites

By: News24Wire      21st June 2018 At least seven vacant plots have been identified as "possible sites for social and affordable housing" in Cape Town's southern suburbs, including Parkwood, Lotus River and Retreat. The announcement was made by Thando Mguli, head of the Western Cape Department of Human Settlements, GroundUp... 

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