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Property News

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

DTI completes R50m Phase 1 upgrade of Phuthaditjhaba Industrial Park

By: Simone Liedtke     3rd May 2018 The Department of Trade and Industry (DTI) has completed the R50-million Phase 1 revitalisation of the Phuthaditjhaba Industrial Park in the Free State. The revitalisation comprised the upgrading of the security infrastructure including fencing, street lighting, installation of boom gates,... 

DTI completes R50m Phase 1 upgrade of Phuthaditjhaba Industrial Park
Official representatives of various stakeholders were at the industrial park on Thursday for the official handover of the site to the Free State Development Corporation

WSU awards Sisa Ngebulana honorary doctoral degree in commerce

By: Simone Liedtke     2nd May 2018 South African property developer and entrepreneur Sisa Ngebulana has been recognised for his contribution to society and the national business landscape with an honorary doctoral degree in commerce, which was bestowed on him by Walter Sisulu University (WSU) at a graduation ceremony in his... 

WSU awards Sisa Ngebulana honorary doctoral degree in commerce
South African property developer and entrepreneur Sisa Ngebulana has been awarded with an honorary doctoral degree in commerce

MAS acquires Romanian shopping centre

By: Simone Liedtke     30th April 2018 In line with the group’s strategy of investing across the broader European market, MAS Real Estate will acquire the Bucharest-based Militari shopping centre for €95-million. The property will be acquired from MD CE Holdings and Atrium Turkey Samsun, two wholly-owned subsidiaries of Atrium... 

MAS acquires Romanian shopping centre

Concor targets larger share of infrastructure market as part of big growth push

By: Terence Creamer     30th April 2018 Wholly black-owned construction group Concor, which marked its first year of operations in April, is aiming to materially increase its share of the public infrastructure market as part of an ambitious plan to increase its order book to R10-billion by 2020. The company, which has a Level 1... 

Concor targets larger share of infrastructure market as part of big growth push
Concor CEO Riaz Saloojee

Growthpoint Properties issues maiden $425m eurobond, lists on JSE green bond segment

By: Marleny Arnoldi     25th April 2018 JSE-listed real estate investment trust Growthpoint Properties has successfully priced its inaugural US dollar-dominated eurobond, the proceeds of which will be used to fund its expansion in Central and Eastern Europe (CEE).  

Growthpoint Properties issues maiden $425m eurobond, lists on JSE green bond segment
Growthpoint Properties CEO Norbert Sasse

City of Joburg’s draft Inclusionary Housing Policy unworkable – Sapoa 

By: Nadine James     24th April 2018 The City of Johannesburg’s draft Inclusionary Housing Policy, which is currently out for public comment, is not a workable solution and may, in its current form, deter the private sector from developing residential units, says the South African Property Owners’ Association (Sapoa). Sapoa CEO Neil... 

Hyprop FD resigns

By: Anine Kilian     23rd April 2018 Laurence Cohen has resigned as JSE-listed Hyprop’s FD, effective August 1, to pursue personal interests. The appointment of a new FD will be announced in due course. 

Rental income growth pressure, higher finance charges dent Octodec’s H1 results

By: Anine Kilian     23rd April 2018 Pressure on rental income growth, the lag effect of the let-up period at recent developments and higher finance charges, negatively impacted on JSE-listed real estate investment trust Octodec’s results for the six months ended February 28. “The political and economic uncertainty experienced... 

Tower Property’s refurbished, renamed Cape Quarter Plaza set to launch end-April

By: Simone Liedtke     23rd April 2018 The refurbishment of the Cape Quarter Plaza, which will be renamed the Old Cape Quarter upon completion, will be launched by Tower Property Fund’s subsidiary Cape Quarter company at the end of April. The Cape Quarter precinct is situated in De Waterkant, in Cape Town, and is a highly desirable... 

Atterbury completes Trumali House refurbishment, signs Hungry Lion

By: Marleny Arnoldi     19th April 2018 Property developer Atterbury has completed the refurbishment of Trumali House, in Stellenbosch, into modern multitenant A-grade offices with 3 500 m2 of space.  

Atterbury completes Trumali House refurbishment, signs Hungry Lion
Atterbury Western Cape development manager Gerrit van den Berg

Rebosis postpones H1 results, CEO resigns

By: Reuters     18th April 2018 South Africa's Rebosis Property Fund said on Wednesday its CEO Andile Mazwai had resigned and the firm would postpone the release of its interim financial results, sending shares down more than 10%. The company said in a statement its current executive deputy dhairperson Sisi Ngebulana would be... 

R300m social housing project launched in Tshwane

By: Simone Liedtke     17th April 2018 As part of plans to meet the growing demand for housing in Gauteng, Human Settlements Minister Nomaindiya Mfeketo on Tuesday launched the R300-million Thembelihle Village in Tshwane. Completed in November 2017, with first occupation in February 2018, the project provides safe housing for families... 

R300m social housing project launched in Tshwane
Photo by Simone Liedtke
Human Settlements Minister Nomaindiya Mfeketo on Tuesday launched the R300-million Thembelihle Village in Tshwane

StayEasy Maputo opens in Mozambique

By: Simone Liedtke     16th April 2018 Hotel, gaming and entertainment group Tsogo Sun on Monday opened its newest offshore hotel property, StayEasy Maputo, in Mozambique. This addition to the Tsogo Sun Hotels portfolio will bring the group’s number of properties outside of South Africa to 11. This is the group’s third hotel in... 

StayEasy Maputo opens in Mozambique
Tsogo Sun on Monday opened its newest offshore hotel property, StayEasy Maputo, in Mozambique

Fairvest raises R250m in new equity

By: Anine Kilian     13th April 2018 JSE-listed real estate investment trust Fairvest has raised R250-million in new equity at R2.20 a share to finance the company’s Barra Precinct acquisition, which was announced in December. The transaction was heavily oversubscribed and the company increased the amount raised owing to strong... 

Grit buys Mozambique property from Tradehold

By: Anine Kilian     13th April 2018 JSE-listed Grit Real Estate and Tradehold on Friday announced a $23-million Mozambique property transaction in which Grit would buy an A-grade corporate residential complex, known as Acacia Estate, in Maputo, from Tradehold. Grit has signed an agreement with Tradehold Africa, TC Maputo, Cognis 1... 

Texton appoints UK asset manager

By: Anine Kilian     12th April 2018 JSE-listed real estate property fund Texton has appointed James Armstrong as asset manager to oversee its assets in the UK, effective May 1. Armstrong previously held senior positions at Hammerson, Dawnay Day Carpathian and LREC. His extensive multisector expertise includes valuations,... 

Group Five to sell majority stake in SA construction business as losses mount

By: Irma Venter     12th April 2018 Group Five will soon become a minority shareholder in its construction business in South Africa, says CEO Themba Mosai. Speaking on Thursday in Johannesburg at the company’s interim results, he noted that Group Five targeted the sale of 51% of its South African construction business to an... 

 Group Five to sell majority stake in SA construction business as losses mount
Themba Mosai

New Zimbabwe luxury boutique hotel to welcome guests from early 2019

By: Simone Liedtke     12th April 2018 Victoria Falls, in Zimbabwe, will soon boast a new luxury boutique hotel catering for a variety of guests to the region’s famous world heritage site. From early 2019, the new 199 all-suite Mbano Manor Hotel will offer a unique and nature-based travel experience for the global, high-end tourist,... 

R350m Menlyn apartment hotel development to open June  

12th April 2018 After an uncertain start, the Regency – a new upmarket apartment hotel development, situated in Menlyn Pretoria – has entered its final stage of construction. Paige Muller tells us more. 

R350m Menlyn apartment hotel development to open June
R350m Menlyn apartment hotel development to open June

Day hospital opens at Atterbury’s The Club precinct

By: Simone Liedtke     9th April 2018 South African property investor and developer Atterbury’s landmark new development The Club, in Pretoria, now includes the fully operational Club Surgical Centre. Club Surgical Centre, a state-of-the-art day hospital that offers cutting-edge treatment in skin cancer, cosmetic, ear-nose-and-throat... 

Day hospital opens at Atterbury’s The Club precinct
South African property investor and developer Atterbury’s landmark new development The Club, in Pretoria, now includes the fully operational Club Surgical Centre

Grit pursues LSE listing

By: Anine Kilian     9th April 2018 Grit Real Estate, which is listed on the JSE and on the Stock Exchange of Mauritius (SEM), is seeking a listing on the LSE. The company, which focuses on real estate in select African countries, intends to maintain primary listings on the JSE and LSE, while moving its SEM listing to a secondary... 

Solar powers Redefine Properties’ sustainability efforts

By: Simone Liedtke     5th April 2018 JSE-listed Redefine Properties’ total installed photovoltaic (PV) fleet will produce about 35.75-million kilowatt-hours a year of solar power when fully operational.   This forms part of the diversified real estate investment trust company’s strategy on solar energy to deliver cost efficiencies... 

Solar powers Redefine Properties’ sustainability efforts
Some of the key assets where Redefine has already installed rooftop solar PV plants include Boulders Shopping Centre, in Midrand

Oando commissions new office building in Lagos

By: Anine Kilian     5th April 2018 Dual-listed Oando has officially commissioned its new office building, the Wings Office Complex, in Lagos, Nigeria. The complex, which was commissioned by State and Petroleum Minister Ibe Kachickwu,  comprises two 12-storey towers with 27 000 m2 of lettable office space, a three-level car park,... 

Basil Read outlines turnaround plan as auditor issues going-concern warning

By: Irma Venter     28th March 2018 Basil Read remains a viable business, despite the group’s auditors noting their apprehension regarding the company’s ability to continue as a going concern, says CEO Khathutshelo Mapasa, who took over the reins at the company in October. PricewaterhouseCoopers noted in Basil Read’s annual results... 

 Basil Read outlines turnaround plan as auditor issues going-concern warning

Stenprop buys another UK multilet industrial estate

By: Simone Liedtke     26th March 2018 In line with its stated strategy of focusing on UK multilet industrial property, BSX- and JSE-listed Stenprop has completed the acquisition of a modern, fully let industrial estate in Huddersfield, in the UK, for £5.8-million. The purchase, from a private investor, reflects a net initial yield of... 

Atlantic Leaf acquires UK industrial, office property for £14.9m

By: Simone Liedtke     26th March 2018 SEM- and JSE-listed Atlantic Leaf, through its wholly-owned subsidiary Trido, has completed the acquisition of a multilet industrial and office property – Deacon Park – in Knowsley, in the UK, from JCAM Commercial Real Estate Property. 

Dipula’s R1.25bn acquisition progresses

By: Marleny Arnoldi     23rd March 2018 JSE-listed diversified real estate investment trust Dipula Income Fund on Friday provided further details of its R1.25-billion property portfolio acquisition that was initially announced in November.  

Johannesburg Mayor finds procedures not followed in building of storm damaged houses

By: African News Agency      22nd March 2018 An investigation by City of Johannesburg's Group Risk and Assurance Services (Gras) found discrepancies and irregularities by officials and builders of bonded and RDP homes damaged by a storm in December last year. Mayor Herman Mashaba said as a result, three officials in the city's development... 

Heartwood Properties lists on 4AX

By: Marleny Arnoldi     20th March 2018 Exchange trading platform 4 Africa Exchange (4AX) on Tuesday listed its first issuer operating in the property sector – Heartwood Properties.  

Heartwood Properties lists on 4AX
4AX CEO advocate Fay Mukaddam

Growthpoint sees Gauteng East Rand as hotspot for industrial properties

By: Simone Liedtke     20th March 2018 Growthpoint sees Gauteng East Rand as hotspot for industrial properties Gauteng’s East Rand was a hotspot for industrial property leasing in 2017, says Growthpoint Properties, which concluded 70 deals – 40 new and 30 renewals – in the area during the year. 

Growthpoint sees Gauteng East Rand as hotspot for industrial properties
Growthpoint Industrial Division Director Engelbert Binedell

Afrimat Construction Index ticks up, but talks on land may dampen mood

By: Irma Venter     15th March 2018 The 2017 fourth quarter results of the Afrimat Construction Index (ACI) show an upward trend, broadly in line with the uptick in South Africa’s gross domestic product. After reaching an eight-quarter high of 127 at the end of 2016, the ACI declined for two successive quarters before recovering in... 

Afrimat Construction Index ticks up, but talks on land may dampen mood

Phase 1 of Loftus Park mixed-use development nears completion

By: Schalk Burger     14th March 2018 Phase one of the mixed-use Loftus Park precinct being developed by JSE-listed Redefine Properties and built by construction firm Abland will include 34 000 m2 of office space, a gym, an open-air piazza with restaurants and a convenience retail offering, as well as a new 152-room hotel by... 

Phase 1 of Loftus Park mixed-use development nears completion

Growthpoint lists first local green bonds

By: Megan van Wyngaardt     12th March 2018 JSE-listed real estate investment trust Growthpoint Properties has issued a Green Bond on the JSE, the first local company to do so. The Growthpoint Green Bonds will be available in terms of five, seven and ten years and are aimed at raising capital solely allocated for funding projects that... 

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