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Property News

Growthpoint Healthcare launches with R2.4bn portfolio

By: Nadine James     13th June 2018 Growthpoint Properties has launched South Africa’s first unlisted healthcare real estate investment trust (Reit), Growthpoint Healthcare Property Holdings, which already holds five assets valued at R2.4-billion. The introduction of Growthpoint Healthcare has received strong market interest with... 

Exemplar lists on JSE main board

By: Simone Liedtke     12th June 2018 Despite volatility in the current market, real estate investment trust (Reit) Exemplar REITail on Tuesday listed in the retail Reit sector of the main board of the JSE. Exemplar MD Jason McCormick on Tuesday said the listing will allow the company to stand alongside the “giants of commerce and... 

Exemplar lists on JSE main board
Photo by Dylan Slater
(Left-to-Right) JSE Capital Markets Director Donna Nemer, Exemplar MD Jason McCormick and Exemplar Executive Director John McCormick

Stor-Age reports continued strong trading results for FY18

By: Marleny Arnoldi     12th June 2018 Real estate investment trust Stor-Age has reported an 11.1% year-on-year total dividend increase to 97.8c a share for the year ended March 31.  

Stor-Age reports continued strong trading results for FY18
Stor-Age CEO Gavin Lucas

Demand rising for funding for grid-tied renewables

By: Schalk Burger     8th June 2018 Financing to build renewable-energy systems for use by businesses in South Africa is growing, with many projects showing good financial viability and return on investment, says financial institution Absa renewable-energy head Justin Schmidt. The return on investment for well-designed energy... 

Demand rising for funding for grid-tied renewables
JUSTIN SCHMIDT Most companies will rely on more than one source of energy, and the most compelling business cases currently are grid-tied solutions

Basil Read enters new avenue with Savanna City residential development

By: Simone Liedtke     7th June 2018 As part of its turnaround strategy, construction group Basil Read on Thursday launched Basil Read Homes with the first of its 44 residential units on a land parcel at Savanna City, south of Johannesburg, which will, upon completion, boast about 18 399 integrated housing units. “This launch is a... 

Basil Read enters new avenue with Savanna City residential development

City of Cape Town to spend R2.1bn on housing 

By: African News Agency      7th June 2018 The City of Cape Town on Thursday said its Transport and Urban Development Authority (TDA) will spend R2.1-billion on the development of new housing opportunities. This comes after the TDA budget for the next financial year, starting on 1 July 2018, was set at R5.34-billion. 

Property sector increasingly embracing solar PV plants

By: Marleny Arnoldi     1st June 2018 JSE-listed real estate investment trust South African Corporate Real Estate (Sacre) will invest more than R30-million to install rooftop solar photovoltaic (PV) plants to help curb ever-rising electricity tariffs at its malls and reduce their carbon footprint.  

Property sector increasingly embracing solar PV plants
Montana Crossing solar panel rooftop

Gauteng govt to release unused land and properties in July

By: Donald Makhafola     1st June 2018 The Gauteng provincial government completed an assets register last year and is expecting to release its property portfolio to the value of R31-billion in July. The portfolio consists of unused land and buildings, Gauteng Infrastructure Development MEC Jacob Mamabolo told construction... 

Gauteng govt to release unused land and properties in July
JACOB MAMABOLO The Gauteng government will release its assets portfolio consisting of land and buildings in July

Nxesi launches expedited lease renewal process

By: Simone Liedtke     31st May 2018 Public Works Minister Thulas Nxesi on Thursday held a meeting with client departments, private landlords and other stakeholders to expedite finding a resolution to expired leases and the signing of long-term leases, including the so-called “9.11 leases” that are valid for nine years and eleven... 

Nxesi launches expedited lease renewal process
Photo by Creamer Media
Public Works Minister Thulas Nxesi

Attacq disputes claims of illegal water connections at Waterfall

By: Anine Kilian     31st May 2018 JSE-listed Attacq has refuted allegations by the City of Johannesburg (CoJ) regarding illegal water connections at some of the properties under its management in Waterfall City. The property development company said in statement on Thursday that it was in possession of all paperwork and invoicing... 

Milestone year for Vukile as it delivers 7.7% FY18 distribution growth

By: Simone Liedtke     30th May 2018 Property management company Vukile Property Fund achieved 7.7% growth in dividends to 168.82c a share for the full year ended March 31 on the back of a higher second-half distribution growth of 7.9%. As its international investment grows, Vukile aims to hedge 75% of its dividend flow from... 

Milestone year for Vukile as it delivers 7.7% FY18 distribution growth
Photo by Dylan Slater
Vukile Property Fund CEO Laurence Rapp

Exemplar to list on the JSE in June

By: Anine Kilian     30th May 2018 Exemplar Retail has been granted approval to list in the retail real estate investment trust sector on the main board of the JSE, effective June 12. The company said in a statement on Wednesday that it intends to grow its property portfolio through the acquisition of high-quality assets... 

Echo Polska acquires Polish shopping centre, changes name

By: Simone Liedtke     29th May 2018 Netherlands-based Echo Polska Properties (EPP) has, through its subsidiary EPP Development 7, acquired the King Cross Marcelin shopping centre, in Poznan, Poland, for €91.1-million. The acquisition is in line with the company’s strategy to expand its presence in Polish regional cities. 

Patel to reopen Cape Town Iron and Steel Works plant  

By: Marleny Arnoldi     29th May 2018 Economic Development Minister Ebrahim Patel will on Wednesday officially reopen the Cape Town Iron and Steel Works plant (Cisco), in Kuils River, in the Western Cape.  

Patel to reopen Cape Town Iron and Steel Works plant
Economic Development Minister Ebrahim Patel

Arrowhead vacancies improve despite challenging economic environment

By: Anine Kilian     23rd May 2018 South African focused real estate investment trust Arrowhead achieved a strong operating performance in the six months ended March 31, despite macroeconomic challenges. Speaking to Engineering News Online COO Riaz Kader on Wednesday said that although the company was operating in a very... 

Dipula reports solid H1 financial results, expects FY dividend growth

By: Marleny Arnoldi     21st May 2018 Real estate investment trust (Reit) Dipula Income Fund achieved an 11.5% year-on-year increase in distributable earnings to R216.4-million for the six months to February 28.  

Texton says concludes deal on acquisition of a portfolio of logistics properties

By: African News Agency      21st May 2018 Property investment fund Texton said on Monday it had concluded agreements with Equites Property Fund and various wholly-owned subsidiaries for the acquisition of a portfolio of logistics properties for an aggregate purchase consideration of R205.3-million. Texton said the acquisition was... 

Liberty Two Degrees to convert to Reit, acquires further assets

By: Marleny Arnoldi     18th May 2018 Liberty Two Degrees, a property portfolio established by financial services and holdings company Liberty Group, on Friday announced its intention to convert to a corporate real estate investment trust (Reit) and list on the JSE as a new company (NewCo).  

Construction starts on mixed-use precinct, Barloworld Logistics HQ in Irene

By: Marleny Arnoldi     17th May 2018 Property developers Abland, Giflo Develoments and SOM have started work on a new mixed-use precinct called Irene Boulevard, in the south of Pretoria. This site will become the new four-star rated green headquarters of industrial company Barloworld Logistics, which will be vacating its offices in... 

Construction starts on mixed-use precinct, Barloworld Logistics HQ in Irene

Technical construction used to change historical building to modern art museum 

17th May 2018 The Zeitz Museum of Contemporary Art Africa, built inside of the old grain silo at the V&A Waterfront, in Cape Town, required specialist concretes and technical formwork to realise the vision of the architect Thomas Heatherwick. Schalk Burger has the details. Also making headlines, South African... 

Technical construction used to change historical building to modern art museum
Technical construction used to change historical building to modern art museum

R3bn Rosslyn Hub to create 160 000 jobs

By: Nadine James     16th May 2018 The R3-billion mixed-use Rosslyn Hub development was launched at the African Smart Cities Summit, co-located with the African Construction and Totally Concrete Expo, at the Gallagher Convention Centre, in Johannesburg, on Wednesday. The Rosslyn Hub is a crucial step towards the creation of the... 

Gemgrow positive it will deliver on B share guidance for FY18

By: Marleny Arnoldi     16th May 2018 JSE-listed real estate investment trust Gemgrow Properties on Wednesday reported a dividend of 26.09c per A share and 19.34c per B share for the three months ended March 31 - 52.18c per A share and 38.52c per B share for the six months ended March 31.  

Rebosis concludes agreement to sell six office buildings for R888m

By: Simone Liedtke     15th May 2018 Rebosis Property Fund has, through its Ascension Properties subsidiary, concluded an agreement with Boxwood Property Investment Fund for the sale of six office buildings for R888-million. The properties include 14 Long Street, 45 on Castle, Bergstan Building, Matrix Building, Nedbank Building and... 

Calgro M3 confident of securing longer-term working capital

By: Marleny Arnoldi     14th May 2018 Property developer Calgro M3 reported a worse-than-expected financial performance for the year ended February 28, owing to challenging political and associated economic conditions, as well as delays in raising working capital.  

Calgro M3 confident of securing longer-term working capital
Photo by Creamer Media
Calgro CEO Wikus Lategan

Balwin expects sales to grow in FY19, after zoning delays hampered its FY18 performance

By: Marleny Arnoldi     14th May 2018 Housing development company Balwin Properties’ performance for the financial year ending February 28 was largely impacted on by delays in construction at its five latest developments.  

Balwin expects sales to grow in FY19, after zoning delays hampered its FY18 performance
Balwin Properties CEO Steve Brookes

Atlantis SEZ designation to be completed in two months

By: Marleny Arnoldi     14th May 2018 The process of designating the Atlantis Special Economic Zone (SEZ) is to be completed within two months, says Trade and Industry Deputy Minister Bulelani Magwanishe.  

Atlantis SEZ designation to be completed in two months
Trade and Industry Deputy Minister Bulelani Magwanishe at a business engagement session

R10bn budget slash for human settlements dept 

By: News24Wire      11th May 2018 The Department of Human Settlements is on the receiving end of a R10-billion budget cut over the medium term period. This, while the housing backlog stands at an estimated 2.1-million. Addressing a media briefing ahead of her budget vote speech, Human Settlements Minister Nomaindia Mfeketo said:... 

Equites reports strong FY18 distribution growth

By: Marleny Arnoldi     10th May 2018 Real estate investment trust (Reit) Equites Property achieved 12.2% year-on-year growth in distributions a share to R1.23 for the financial year ended February 28 – cementing the company’s record of strong distribution that exceeds full year guidance.  

Equites reports strong FY18 distribution growth
Equites Property CEO Andrea Taverna-Turisan

Vukile grows Spanish retail investment to near €400m

By: Simone Liedtke     10th May 2018 Vukile Property Fund has, through its 98.7%-owned Spanish real estate investment trust (Reit) subsidiary Castellana Properties, acquired Habaneras Shopping Centre, its first shopping centre in Spain, for €80.6-million. The easily accessible open-air shopping centre is in Torrevieja, in the... 

Vukile grows Spanish retail investment to near €400m
Habaneras Shopping Centre, in Spain (Exterior)

Long4Life declares maiden dividend

By: Simone Liedtke     9th May 2018 Long4Life, which has raised R2-billion in capital since its listing on the JSE in April last year, has declared a maiden dividend of 5.4c a share for the 11 months to February 28. The company on Wednesday reported that it had, in the period under review, acquired Sportsmans Warehouse, Outdoor... 

Indluplace portfolio grows 82% y/y, despite challenging environment

By: Simone Liedtke     9th May 2018 Despite having faced a challenging operating environment in 2017, residential-focused real estate investment trust (Reit) Indluplace has grown the value of its portfolio by 82% year-on-year to R4-billion at the end of the six months ended March 31. This follows the Buffet portfolio acquisition,... 

Growthpoint Investec African Properties commences operations

By: Anine Kilian     9th May 2018 Pan-African real estate investment business Growthpoint Investec African Properties (GIAP), a partnership between Growthpoint Properties, Investec Asset Management and the International Finance Corporation, has started operations. GIAP has secured capital commitments in excess of $212-million... 

Hyprop raises R782m in oversubscribed bookbuild

By: Simone Liedtke     8th May 2018 JSE-listed Hyprop on Tuesday raised R782.6-million in an accelerated bookbuild. The company had initially sought to raise about R600-million to reduce its debt. 

Rebosis posts solid interim results

By: Simone Liedtke     8th May 2018 JSE-listed Rebosis on Tuesday said its retail and office portfolio delivered 6.8% net property income growth in the six months ended February 26, 2018, with positive rent uplift on renewals that indicate good property fundamentals. The company’s value in the underlying portfolio grew by 17.9% to... 

Emira grows its US footprint

By: Simone Liedtke     8th May 2018 Real estate investment trust (Reit) Emira Property Fund has invested in its fourth shopping centre in the US. The company has undertaken its fourth equity deal in the US with its in-country partner, the Rainier Group of Companies, by acquiring 49% of the equity of Indiana-based Stony Creek... 

Redefine maintains full-year distribution growth guidance at 5%

By: Marleny Arnoldi     7th May 2018 JSE-listed real estate investment trust Redefine Properties has declared a distribution of 47.3c a share for the six months ended February 28, a 5.5% improvement on the 44.8c a share for the comparable period in 2017, maintaining the company’s full-year growth guidance.  

Redefine maintains full-year distribution growth guidance at 5%
Redefine Properties CEO Andrew Konig

Redefine, Abland launch mixed-use Loftus Park precinct

By: Marleny Arnoldi     4th May 2018 City of Tshwane executive mayor Solly Msimanga this week officially launched Loftus Park – a new mixed-use green precinct, in Pretoria.  

Redefine, Abland launch mixed-use Loftus Park precinct
Loftus Park ribbon-cutting ceremony

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