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Property News

World’s largest museum dedicated to African art opens in Cape Town this week

By: Kim Cloete     18th September 2017 The world’s largest museum dedicated to contemporary art from Africa and its diaspora has been unveiled at the V&A Waterfront in Cape Town, and will officially open its doors to the public on Friday. The Zeitz Museum of Contemporary Art Africa (Zeitz MOCAA) is the V&A Waterfront’s R500-million... 

NHBRC appoints new CEO

15th September 2017 The National Home Builders Registration Council (NHBRC) has appointed Mziwonke Dlabantu CEO, effective October 1. He brings more than 20 years of public service experience to the NHBRC with a wealth of expertise in human settlements sector experience, as well as strategic and financial management. 

CoJ to implement new town planning and land use scheme

By: Schalk Burger     15th September 2017 The City of Johannesburg (CoJ) on Friday said it was developing a new Land Use Scheme to replace the current version, which had been in use since 1970. Members of the public have until October 13 to submit their comments on the draft scheme when the 60-day public consultation period comes to an end. 

Legal fight over R4.5bn logistics park in Durban

By: News24Wire      15th September 2017 Residents of Clairwood are expected to turn out in their numbers at the KwaZulu-Natal High Court in Durban on Friday when their lawyers challenge the provincial government’s approval of a massive R4.5-billion logistics park at the old Clairwood Racecourse - once the only green lung in the area.... 

WBHO upbeat about UK market potential following Byrne acquisition

By: Irma Venter     15th September 2017 A problematic Australian contract and a payment in accordance with a settlement agreement between government and the local construction sector following an investigation into collusion have seen profits slip at JSE-listed construction group Wilson Bayly Holmes-Ovcon (WBHO). The group earlier this... 

New retail development to open in Walvis Bay

By: Mia Breytenbach     15th September 2017 The new R500-million Dunes Mall in Walvis Bay, Namibia, is in the final stages of completion, with its doors set to open next month. The mall is developed by South African property developer and investor Atterbury, in partnership with local developers Tradehold. 

New retail development  to open in Walvis Bay
SIZING UP The new 27 500 m2 Dunes Mall in Walvis Bay, will be the largest in the area and the second largest in Namibia

Cloud-based security solutions to be part of building management systems

By: Schalk Burger     15th September 2017 Building security solutions will converge with information technology (IT) infrastructure, enterprise applications and external systems, becoming an Internet of Things to deliver more than perimeter surveillance, authentication and protection of assets and people, says converged IT systems firm... 

Barloworld celebrates 90-year Caterpillar milestone

By: Dylan Slater     15th September 2017 Barloworld Equipment, which is the distributor and service supplier of US earthmoving equipment manufacturer Caterpillar, celebrated a 90-year partnership with Caterpillar in South Africa at the end of last month.  

Cape Town identifies inner city housing sites for lower income families

By: News24Wire      14th September 2017 The City of Cape Town identified 11 central sites it owns that would be set aside for affordable, social and transitional housing initiatives. Mayor Patricia de Lille on Wednesday said the goal was to reverse the effects of apartheid spatial planning, forced removals and gentrification. 

Attacq FY17 HEPS increase 92% y/y

By: Anine Kilian     12th September 2017 JSE-listed Attacq’s diluted headline earnings per share increased by 92% to 22.8c for the year ended June 30, while vacancies across its retail and office portfolios rose. Basic earnings per share increased to 23c from 12c, while profit for the year fell by 56.7% to R600-million. 

Low-skilled labour plan could provide solution to unemployment challenge

By: David Oliveira     8th September 2017 Industrial research and development engineering company Greville Wood Developments (GWD) is awaiting funding to recreate a 1986 manufacturing proof study and farming plan, called the Warrenton Plan, which could collectively create about 2 300 jobs in Warrenton, in the Northern Cape, then rolled... 

Partnerships remain key to social housing development

By: Natasha Odendaal     7th September 2017 With access to affordable housing a growing problem in South Africa, the Department of Human Settlements (DHS) on Thursday called on the private sector to partner with government to come up with solutions and to “play their part” in eliminating social housing challenges. Speaking at the ninth... 

Stor-Age enters UK market with R1.3bn acquisition

By: Creamer Media Reporter      5th September 2017 JSE-listed real estate investment trust Stor-Age will acquire a 97.3% interest in UK self storage operator Storage King for R1.3-billion. The acquisition is in line with Stor-Age’s stated strategy of targeting international self storage markets with attractive growth potential to complement its... 

Fairvest FY17 distributions up 10% y/y

By: Anine Kilian     5th September 2017 JSE-listed real estate investment trust Fairvest Property has grown its distributions by 10.04% year-on-year to 18.33c a share for the financial year ended June 30, exceeding market guidance. Distribution growth has been higher than 10% for the fourth consecutive year.  

WBHO sees challenging Australian project, settlement agreement sip from the profit cup

By: Irma Venter     5th September 2017 A problematic Australian contract and a payment in accordance with a settlement agreement between government and the local construction sector following an investigation into collusion have seen profits slip at JSE-listed construction group Wilson Bayly Holmes-Ovcon (WBHO). The group on Tuesday... 

WBHO sees challenging Australian project, settlement agreement sip from the profit cup
Photo by Duane Daws
WBHO CEO Louwtjie Nel

Texton geared for tough year ahead

By: Natasha Odendaal     4th September 2017 JSE-listed Texton Property Fund is battening down the hatches and tightening its defensive strategy in a tough market that is only set to get tougher. Despite increasing uncertainty facing both the South African and UK markets, the real estate investment trust (Reit) is optimistic that it can... 

Texton geared for tough year ahead
Photo by Duane daws
Texton CEO Nosiphiwo Balfour

Texton reports marginal drop in dividends in FY17

By: Natasha Odendaal     4th September 2017 JSE-listed Texton Property Fund on Monday declared a dividend of 102.8c a share for the year ended June 30, representing a 0.8% drop on the 103.68c declared the year before. In terms of the rebased dividend a share, this represented a 6% increase on the recorded 96.99c rebased dividend a share in... 

Advocates want inquiry into 'illegal, dubious developments' in Durban

By: News24Wire      4th September 2017 Advocates for Transformation (AFT) in KwaZulu-Natal have entered the fray on the issue of "illegal building developments" in Durban, calling on the eThekwini Municipality to take urgent steps to establish a commission of inquiry into "the proliferation of dubious developments" in the city and its... 

Hyprop’s South-Eastern Europe fund eyes possible dual listing

By: Natasha Odendaal     1st September 2017 JSE-listed Hyprop on Friday said progress was being made in the potential dual-listing of its 60%-owned UK-based Hystead subsidiary, which holds all of Hyprop’s South-Eastern Europe assets, by the first half of 2018. Hystead is eyeing additional listings on the Johannesburg and Luxembourg bourses... 

Texton appoints new CFO

By: Creamer Media Reporter      1st September 2017 Inge Pick has been appointed CFO and executive FD of Texton Property Fund, effective September 18. She is a qualified chartered accountant and has a wealth of financial and strategic management experience at a senior level in the real estate investment trust (Reit) sector. 

Hyprop lifts distributions in FY17

By: Natasha Odendaal     1st September 2017 JSE-listed Hyprop on Friday posted a 12.1% hike in dividend to 695.1c a share for the financial year ended June 30. The real estate investment trust reported that distributable earnings benefited from the inclusion of R101.8-million in income from the investments in South-Eastern Europe, up from... 

Growthpoint’s FY17 distribution surpasses guidance

By: Natasha Odendaal     30th August 2017 JSE-listed real estate investment trust Growthpoint Properties on Wednesday posted a distribution growth of 6.5% for the year ended June 30, surpassing its guidance. The group declared a final dividend of 100.8c a share for the year – a 6.9% rise on the 94.3c apiece declared in 2016 and in excess... 

Cost-effective fire suppression product has desired impact

By: Simone Liedtke     25th August 2017 Fire-protection equipment supplier Fire Security and Techniques (FST) has just started supplying the FST Fire Orb – which supresses fires – to those living in informal settlements to mitigate the damage caused by a fire incident. 

Fire risk assessments ideal to improve fire risk management

By: Simone Liedtke     25th August 2017 Fire risk assessments are the ideal way to develop and improve fire risk management, from documenting findings, categorisation of risk areas, recommendations or requirements for improvement as well as prioritisation of risk improvement measures, says the Fire Protection Association of Southern... 

Fire risk assessments ideal to improve fire risk management
Photo by Bloomberg
CRITICAL PROTECTION Fire risk assessments are critical in the protection of life, assets and in ensuring the continuity of business operations

Passive fire protection integral element of safety

By: Simone Liedtke     25th August 2017 With passive fire-safety becoming increasingly important in new buildings and renovation work, South Africa-based sealant and adhesive supplier Den Braven says such fire protection systems need to ensure that a fire is contained within specified fire compartments. 

Passive fire protection integral element of safety
FIREPROTECT RANGE The Den Braven FireProtect range, which was launched last year, consists of products that offer a complete solution to all types of expansion joints

Balwin, Transcend partner to deliver 8 900 affordable rental apartments in Gauteng

By: Anine Kilian     21st August 2017 JSE-listed Balwin Properties and Transcend Residential Property Fund have entered into a strategic alliance to bring to market up to 8 900 quality, affordable rental apartments across five developments in key Gauteng nodes over the next six years.   Balwin will be responsible for the design and... 

Joburg Council Chamber’s innovative design receives recognition

By: David Oliveira     18th August 2017 The City of Johannesburg’s (CoJ’s) Council Chamber, which is managed by the CoJ’s property portfolio company Joburg Property Company (JPC), has been awarded the Public Services Development award by the Africa & Arabia Property Awards. The JPC will officially receive the award at a ceremony at the... 

Joburg Council Chamber’s innovative design receives recognition
AWARD WINNING The City of Johannesburg’s Council Chamber, has been awarded the Public Services Development award by the Africa & Arabia Property Awards

Diverse assets for infrastructure in demand 

By: Marleny Arnoldi     18th August 2017 In the commercial and industrial property development space, as well as its supporting infrastructure, there is demand for high-quality, diverse assets with strategic locations and offering optimal planning and design, says consultancy firm WSP.  

Diverse assets for  infrastructure in demand
WSP property team and structures regional director William Johnston discusses the demand for diverse assets in the infrastructure industry.

Emira on track to improve performance, despite difficult operating environment

By: Anine Kilian     16th August 2017 Despite a challenging year, JSE-listed real estate investment trust Emira Property Fund says it has significantly improved vacancies across its portfolio to 5.3%, from 7% at its half-year, while having also renewed 77% of expiring space during the financial year to June 30.    Speaking at a... 

Lonmin unveils design proposal for Marikana memorial park; showcases new apartments

By: Anine Kilian     15th August 2017 Platinum producer Lonmin on Tuesday unveiled its proposed design for a Marikana memorial park and announced the occupation of its infill apartments a day before the fifth anniversary of the Marikana massacre.  Thirty-four miners died and at least 70 were injured on August 16, 2012, when police... 

Lonmin unveils design proposal for Marikana memorial park; showcases new apartments
Photo by Duane Daws
Lonmin CEO Ben Magara

Balwin Properties partners with SolarAfrica

By: Anine Kilian     11th August 2017 JSE-listed Balwin Properties has partnered with renewable energy provider SolarAfrica to incorporate solar energy at two of its upmarket developments. The Kikuyu development, in Midrand, and The Whisken development, in Johannesburg, are one of the first developments in South Africa to offer... 

Growthpoint Properties a step closer to wholly owning N1 City Mall

By: African News Agency      11th August 2017 JSE-listed Growthpoint Properties got one step closer to acquiring N1 City Mall from Redefine Properties after the Competition Commission recommended to the Competition Tribunal that its proposed merger be approved without conditions. The 64 000 m2 N1 City Mall, with over 140 stores, is situated... 

Majozi Bros, Hire-It join forces to create one-of-a-kind black-owned JV

By: Samantha Herbst     10th August 2017 Durban-based Majozi Brothers Construction has joined forces with tool hire and sales company Hire-It to establish a new Level 2 broad-based black economic-empowerment (BBBEE) joint venture (JV) company – Majozi Bros Tool Hire & Sales. The new JV, which is 51% owned by Majozi Brothers and 49%... 

Majozi Bros, Hire-It join forces to create one-of-a-kind black-owned JV
Pictured at their new premises on Chris Hani road, Durban North are Majozi Bros Tool Hire & Sales joint venture partners Sihle Ndlela, Richard Fraser and Simphiwe Majozi

Greenbay raises R4bn in accelerated bookbuild

By: Creamer Media Reporter      8th August 2017 Stock Exchange of Mauritius- and JSE-listed Greenbay Properties on Tuesday raised about R4-billion in an accelerated bookbuild. This was double the R2-billion it had initially set out to raise. 

Free State shopping centre set for R338m redevelopment

By: Creamer Media Reporter      8th August 2017 JSE-listed real estate investment trust (Reit) Vukile Property Fund will invest R338-million in expansion and redevelopment of the Maluti Crescent shopping centre, in Phuthaditjhaba, Free State.   The project will add 12 357 m2 to the centre, taking it to a total 34 360 m2.  Simultaneously, the... 

Variance rates measured in eight metropolitan municipalities

4th August 2017 The South African Property Owners Association (Sapoa) has compared the level of rates and taxes levied in each of the eight metropolitan municipalities of the country which reveals some variance in the cents in the rand rate across the main property types. 

Variance rates measured in eight metropolitan municipalities
Photo by Duane Daws
CITY OF JOHANNESBURG The city is the largest in the country in terms of revenue

Interest in property increases developer offerings

By: Victor Moolman     4th August 2017 An increase in land-controlling developers that are willing to sell turnkey solutions has been observed by residential and commercial property consultant Knight Frank. 

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