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Property News

Basil Read to take on building of top structures

By: Megan van Wyngaardt     7th March 2018 Local construction company Basil Read has received permits from the National Home Builders Registration Council (NHBRC) to start building top structures at its housing developments, such as its Savanna City Estate mixed-use development, near Orange Farm, in Gauteng. The top structure would be... 

Gauteng Premier concerned over proposed rates hikes in Joburg

By: African News Agency      7th March 2018 Gauteng Premier David Makhura on Wednesday, expressed concern over the proposed property rates increase in the City of Johannesburg following the release of its municipal valuations recently. Johannesburg Mayor Herman Mashaba said that 8 000 property owners will from next week receive Section 78... 

 Gauteng Premier concerned over proposed rates hikes in Joburg
Gauteng Premier David Makhura

Growthpoint starts excavation work for Rosebank office development

By: Marleny Arnoldi     7th March 2018 JSE-listed Growthpoint Properties has started the excavation process for the 35 000 m2 144 Oxford premium-grade office development in Rosebank, Gauteng, with the project expected to be completed in October 2019.  

Growthpoint starts excavation work for Rosebank office development
Growthpoint Properties' 144 Oxford office development

Texton Property declares interim dividend of 47.95c

By: Simone Liedtke     5th March 2018 JSE-listed real estate investment trust (Reit) Texton Property, which has a portfolio of R5.4-billion of assets in South Africa and the UK, declared an interim dividend of 47.95c a share for the six months ended December 31. This, the company reported on Monday, was achieved from a solid... 

Hyprop lifts H1 distributions by 8.3% y/y

By: Simone Liedtke     2nd March 2018 JSE-listed specialist shopping centre real estate investment trust (Reit) Hyprop on Friday reported solid growth in distributions of 8.3% for the six months to December 31, which was driven by a stable performance from South African shopping centres and a strengthening South-Eastern European... 

Built environment summit in May

By: Dylan Slater     2nd March 2018 The Africa Summit of London-based Royal Institution of Chartered Surveyors (Rics) – which has entrenched itself as a noteworthy yearly event – will reconvene for the fourth consecutive year at Sun International’s Maslow Hotel in Sandton, Johannesburg, from May 30 to 31.  

Western Cape, financial institutions pledge commitment to affordable housing delivery

By: Simone Liedtke     1st March 2018 The Western Cape Department of Human Settlements on Thursday signed a memorandum of understanding (MoU) with five financial institutions operating within the affordable housing market, with the parties pledging their commitment to accelerating the delivery of affordable housing in the province.... 

Western Cape, financial institutions pledge commitment to affordable housing delivery
Memorandum of Understanding Signing Parties

RCL Foods eyes greater market share as new pet food facility opens

By: Megan van Wyngaardt     1st March 2018 Fast-moving consumer goods manufacturer RCL Foods on Thursday launched its new R150-million pet food manufacturing facility, in Randfontein. Through the establishment of the 1 500 m2 facility, which employs around 700 people, the company aims to take a greater share in the R5-billion a year South... 

RCL Foods eyes greater market share as new pet food facility opens
Photo by Dylan Slater
RCL Foods

Fairvest’s interim distributions increase 9.53% y/y

By: Anine Kilian     1st March 2018 JSE-listed real estate investment trust Fairvest announced solid results for the six months ended December 31, 2017, with interim distributions having increased by 9.53% year-on-year to 9.81c a share.   Revenue increased by 15.2% year-on-year to R186.9-million. 

Balwin expects to report lower FY18 earnings

By: Anine Kilian     28th February 2018 JSE-listed Balwin Properties expects to report a 23% to 28% year-on-year decrease in headline earnings a share and a 23.21% to 28.19% year-on-year decrease in earnings a share for the year ended February 28.       Balwin said in a trading statement on Wednesday that it has experienced delays in... 

Attacq lifts interim NAV, says transition to Reit on track

By: Anine Kilian     27th February 2018 JSE-listed Attacq reported a 10.1% increase in its net asset value to R23.51-billion for the six months ended December 31. The group generated distributable earnings a share of 38.9c, while its gearing ratio improved from 41.4% to 36.2%. 

WBHO sees 67% jump in profit, believes the cycle has bottomed out

By: Irma Venter     27th February 2018 Despite the changing political landscape in South Africa, the construction industry, which has been in the doldrums over the last 24 months, will not immediately experience a change in fortunes, warns Wilson Bayly Holmes-Ovcon (WBHO) CEO Louwtjie Nel. “Government has lots of obligations. We won’t... 

WBHO sees 67% jump in profit, believes the cycle has bottomed out
WBHO CEO Louwtjie Nel

MAS records 98% increase in H1 distributable earnings

By: Anine Kilian     26th February 2018 JSE-listed MAS Real Estate increased its distributable earnings by 98% year-on-year to €17.1-million for the six months ended December 31.   “The improvement in distributable earnings was driven by the full period effect of accretive acquisitions, the completion of developments and the deployment... 

Hyprop subsidiary acquires 90% interest in two Croatian shopping centres

By: Simone Liedtke     22nd February 2018 Hystead, a UK company co-owned by Hyprop Investments and PDI Investment Holdings (PDI) has acquired a 90% interest in two Croatian shopping centres from WKB 3 for €129.1-million. When completed, Hystead will own six shopping centres in five countries, with a gross asset value exceeding €740-million. 

Hyprop subsidiary acquires 90% interest in two Croatian shopping centres
City Center one Zagreb West

Sapoa continues to focus on transformation, advocacy 

By: Simone Liedtke     20th February 2018 The South African Property Owners Association (Sapoa), under the leadership of president Peter Levett, continues to focus on education, advocacy, transformation and research in the property sector. Sapoa plays a “pivotal role” in advocacy, providing targeted participation in legislative... 

Atterbury starts construction at R800m Midrand industrial park

By: Megan van Wyngaardt     20th February 2018 South African property developer Atterbury has started construction on Old Mint Park, a prime industrial development neighbouring the landmark South African Mint and fronting the N1 highway, centrally located between Midrand and Centurion. The R800-million project entails the development of a new... 

Atterbury starts construction at R800m Midrand industrial park

City of Cape Town welcomes 'major court victory for preservation of water sources'

By: News24Wire      20th February 2018 A ruling by the Western Cape High Court has been described as "a watershed ruling" for the preservation of Cape Town's rivers, floodplains, and wetlands. The judgment refers to a case in which the City approached the courts to order Really Useful Investments, a developer of the Hout Bay Beach... 

Liberty Two Degrees posts maiden full-year results

By: Dylan Slater     19th February 2018 South Africa-focused real estate investment trust (Reit) Liberty Two Degrees (L2D) on Monday posted a distribution of 59.22c a unit in its maiden full-year results.  

Discovery headquarters nears completion 

By: Marleny Arnoldi     16th February 2018 With the construction of health insurance and financial services provider Discovery’s head office set for completion at the end of this month, construction consultancy Aurecon believes that the building is set to become a pioneering green precinct concept, owing to its size and the way in which... 

Discovery headquarters nears  completion
Photo by WBHO
VISIONARY CONSTRUCTION The vision for the Discovery building extends beyond providing indoor environmental quality for the occupants, to the integration of a building into a healthier, more desirable surrounding precinct

Reuse of road construction materials mitigates road damage 

By: Simone Liedtke     16th February 2018 To eliminate extensive road damage, construction company Wirtgen SA sales manager Waylon Kukard explains that for an environment-friendly rehabilitation of road pavements, existing construction materials need to be fully reused, which significantly reduces material costs. 

Reuse of road construction materials mitigates  road damage
Wirtgen South Africa sales manager Waylon Kukard discusses the benefits of road rehabilitation and cold recycling. Camerawork: Nicholas Boyd.

Projects boding well for geotechnical contractor

By: Marleny Arnoldi     16th February 2018 Specialist geotechnical contractor and subsidiary of Keller Group, Franki Africa, is providing 46 000 Columns with Mixed Moduli (CMM) for the 350 000 m2 Clairwood logistics park construction site project.  

Projects boding well for geotechnical contractor
WAREHOUSING NEEDS The Clairwood logistics park is being built on Durban’s 91-year-old Clairwood racecourse site to meet the growing demand for A-grade logistics and distribution facilities in the south of Durban

Drones offer inspection and maintenance benefits for built environment

By: Dylan Slater     16th February 2018 Remotely piloted aircraft systems (RPASes) offer a cost-effective and safe mechanism, with significant benefits, for the built environment sector, especially in terms of inspection and maintenance, according to enterprise applications company Softworx MD Jane Thomson.  

Drones offer inspection and maintenance  benefits for built environment
JANE THOMSON Remotely piloted aircraft systems can lower costs, enhance general visibility and improve personnel safety

Emira returns to positive distribution in H1

By: Megan van Wyngaardt     14th February 2018 South African real estate investment trust (Reit) Emira Property Fund on Wednesday declared an interim dividend of 70.65c a share for the six months ended December 31 - a 2.5% year-on-year increase. The fund returned to positive distribution growth in the period owing to the significant leasing... 

City of Cape Town announces winning bidder for foreshore redevelopment

By: African News Agency      12th February 2018 The City of Cape Town on Monday announced that Mitchell Du Plessis Associates (MDA) have been chosen as the winning bid for the redevelopment of the Foreshore Freeway Precinct, which includes completing the unfinished flyover that has marked the city's skyline for more than 40 years. The City... 

Accenture breaks ground on new building in Waterfall

By: Simone Liedtke     8th February 2018 Construction has started on the new Southern African offices of global professional services company Accenture, which will be relocating from its current offices in Woodmead to a 3 875 m² facility, in Waterfall City, in December, as part of its Africa expansion strategy. Waterfall commercial... 

Local Reits achieve double-digit growth for second consecutive year

By: Megan van Wyngaardt     6th February 2018 The FTSE/JSE South African Listed Property Index (Sapy) achieved total returns of 17.2% in 2017, building on its performance of returns of 10.2% in 2016, to deliver double-digit growth to investors for the second year in a row. Last year, listed property outshone cash, which delivered returns of... 

Turner & Townsend’s Kenyan business to merge with Nairobi-based firm

By: Dylan Slater     6th February 2018 Global project management consultancy Turner & Townsend’s Kenyan business will merge with Nairobi-based project management firm Mentor Management Limited (MML), after Turner & Townsend acquired a majority stake in MML from growth markets investor Actis.  

Underground mining division to drive more than 20% uptick in M&R's interim earnings

By: Megan van Wyngaardt     2nd February 2018 JSE-listed Murray & Roberts (M&R) expects to have achieved at least a 20% year-on-year improvement in its diluted and basic earnings per share and headline earnings per share for the is months to December 31. The uptick in results is attributed to its underground mining division, which is... 

PPC Imaginarium Awards takes over prestigious Des Baker Award

By: Megan van Wyngaardt     2nd February 2018 Architecture schools in South Africa have been invited to send in submissions for the first PPC Imaginarium Awards for Architecture, being held on May 3, at 012Central, Pretoria. Following the same format of the esteemed Des Baker Award for outstanding architectural design by students, which has... 

Construction expo brings new opportunities to KwaZulu-Natal

2nd February 2018 The second annual KZN Construction Expo will gather thousands of construction professionals, government officials and investors to support infrastructure development, service delivery, and the development partnerships and industry transformation currently underway in the province. KwaZulu-Natal... 

Construction expo  brings new opportunities to KwaZulu-Natal
Photo by Duane Daws
INFRASTRUCTURE DEVELOPMENT Round table discussions will focus on enabling public-private sector collaboration to achieve KwaZulu-Natal’s development milestones for infrastructure

Hotels urged to capitalise on sharing economy

By: Schalk Burger     2nd February 2018 The hospitality industry is facing strenuous competition from short-term rental services provided through the Internet, such as those provided by Airbnb, so hoteliers should see how they can join in, says renowned Swiss hospitality management school Ecole hôteliere de Lausanne senior lecturer... 

Stenprop appoints broker to assist with London listing

By: Megan van Wyngaardt     22nd January 2018 To assist in implementing its proposed LSE listing, JSE-listed Stenprop has appointed Numis Securities to act as its broker. Numis Securities will be acting as financial adviser on the proposed move from the Bermuda Stock Exchange to the SFS of the LSE. 

Hammerhead benefits in replacing Gauteng’s ageing pipelines

19th January 2018 Aging water infrastructure in cities throughout Gauteng is leading to a loss of millions of litres of potable water, while sewerage leaks silently contaminate the province’s waterways and ground water. With thousands of pipelines already well over the 50-year mark and equally many over 100 years... 

Hammerhead benefits  in replacing Gauteng’s  ageing pipelines
URBANITE The Hammerhead pipe-bursting solution allows crews to work in confined and heavily built-up areas

New report names WBHO’s Australian unit the country’s ‘most active’ construction firm

By: Irma Venter     19th January 2018 Wilson Bayly Holmes-Ovcon’s (WBHO’s) Australian subsidiary, Probuild, has been named the most active construction company in the country by the Australian Housing Industry Association Construction 100 Report. Probuild has jumped from fifth place last year to top spot, in terms of work procured. 

Sapoa concerned about funding Cape Town water projects

By: Anine Kilian     15th January 2018 The South African Property Owners Association (Sapoa) is concerned that the City of Cape Town is not receiving the necessary income needed to fund projects for emergency water supply augmentation projects that were launched in mid-2017. The city proposed to raise the funding through the... 

EPP closes the first tranche of the M1 portfolio acquisition

By: Anine Kilian     9th January 2018 Property development company Echo Polska Properties (EPP) has closed the €358.7-million first tranche of its acquisition of the Poland-based M1 portfolio. The company in December announced that it would acquire the portfolio, which comprises 12 shopping centres and retail parks, for €692-million. 

JSE gains yet another Reit as Castleview Property Fund lists

By: Megan van Wyngaardt     21st December 2017 The Johannesburg Stock Exchange (JSE) on Thursday gained another real estate investment trust (Reit) under its AltX board, when Castleview Property Fund listed on its Retail Reits sector Castleview is now the twentieth company to list on the JSE this year. JSE capital markets director Donna Nemer... 

JSE gains yet another Reit as Castleview Property Fund lists

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