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Property News

Sandton building wins Sapoa award

By: Victor Moolman     4th August 2017 The Sasol Place building in Sandton, designed by professional management service group Paragon Group's subsidiary Paragon Architects, won the office developments corporate and the overall winner awards from the South African Property Owners Association (Sapoa) in 2017. 

New development zone in Cape Town

4th August 2017 Property development company AMDEC Property Development has developed a nautically-inspired commercial and residential space in the Roggebaai Canal Tourism Precinct, in Cape Town, called the Yacht Club. 

New development zone in Cape Town
DEEP FOUNDATION Because the site is located in a high water level area the foundations had to be sunk deep

Joburg Property Company showcases city’s heritage 

3rd August 2017 The Johannesburg Property Company invited media in June to view some of its property initiatives around the city, which includes the refurbishment of two heritage sites.  

Joburg Property Company showcases city’s heritage
Joburg Property Company showcases city’s heritage.

Atterbury appoints Boshoff as new deputy CEO

By: Creamer Media Reporter      1st August 2017 South African real estate developer and investor Atterbury has appointed Armond Boshoff deputy CEO, effective August 1. Atterbury noted in a statement on Tuesday that the creation of the new position and Boshoff’s appointment delivers on the company’s commitment to best practice for attracting,... 

Atterbury appoints Boshoff as new deputy CEO
Armond Boshoff

City of Cape Town’s support generates investment worth R2.67bn, with 6 236 jobs created in key growth industries 

By: African News Agency      31st July 2017 The City of Cape Town, via its enterprise and investment department under the directorate of the mayor, has facilitated R2.67-billion worth of investment which has resulted in 6 236 direct jobs created for the people of Cape Town in the past financial year (July 2016 – June 2017), the city said... 

Equites raises R1-billion in book build

By: Anine Kilian     27th July 2017 Following the closing of its book build announced on Thursday, JSE-listed Equites has raised R1.02-billion by issuing 59-million shares at 1 720c a share. The company earlier announced equity raising of about R400-million through the issue of new shares, subject to pricing acceptable to Equites. 

CoJ incentivises new building developments through special rebates

By: Mia Breytenbach     26th July 2017 The City of Johannesburg (CoJ) will offer special rebates to property developers undertaking new building developments in earmarked areas across the city in a bid to grow the economy and create jobs.   The CoJ recently implemented the new 2017/18 Property Rates Policy, in which the city... 

Redefine Properties’ industrial developments on track  

By: Anine Kilian     26th July 2017 Development of one of JSE-listed real estate investment trust (Reit) Redefine Properties’ largest industrial developments, the 1.6-million square metre S&J Industrial Estate, in Germiston, is on track, with bulk infrastructure currently being rolled out. The prime site is majority owned by... 

Redefine Properties’ industrial developments on track

Liberty Two Degrees acquires additional shares in Liberty property portfolio

By: Samantha Herbst     26th July 2017 JSE-listed real estate investment trust (Reit) Liberty Two Degrees (L2D) will acquire additional undivided shares in properties co-owned by financial services company Liberty Holdings (Liberty) to the value of R2.51-billion, boosting L2D’s share in the Liberty property portfolio from 22% to 31%.... 

SA committed to increasing trade with Zambia, says DTI minister

By: African News Agency      21st July 2017 South Africa was committed to increasing trade and addressing the trade imbalance with Zambia. This was according to South Africa’s Minister of Trade and Industry, Dr Rob Davies, ahead of a two-day Outward Trade and Investment Mission to Lusaka, Zambia, from 24-25 July. 

SA committed to increasing trade with Zambia, says DTI minister
Trade and Industry Minister Dr Rob Davies

Futureproof solutions ensure green living

By: Robyn Wilkinson     21st July 2017 Demonstrating its capability for creative thinking, engineering and project management consultancy Royal HaskoningDHV South Africa has overcome bulk services shortages and ensured the preservation of the natural environment along KwaZulu-Natal’s north coast through the sustainable design of the... 

Joburg Property Company showcases city’s heritage

By: David Oliveira     21st July 2017 In a R60-million renovation project, the former post office on Rissik street is being restored to its former glory as one of Johannesburg’s stand-out heritage sites. During a media tour hosted by the Johannesburg Property Company (JPC) last month, Johannesburg-based Paradigm Architects principal... 

Joburg Property Company showcases city’s heritage
JOBURG CLASSIC GETS FACELIFT The post office in Rissik street, which was built in 1897, is currently undergoing a R60-million renovation

Cape Town housing expansion not linked to water crisis

By: News24Wire      20th July 2017 Cape Town's water restrictions cannot be blamed on new housing projects popping up around the city, the city's mayoral committee member in charge of water and sanitation said. "Despite our population growth almost doubling since 1996, our water demand remained relatively flat," said Xanthea... 

Construction on Exxaro’s new offices to start in September

By: Anine Kilian     18th July 2017 Real estate investment trust Growthpoint Properties has started the multimillion-rand development of a new head office for diversified miner Exxaro Resources. Exxaro’s new corporate headquarters will consolidate its current offices in Pretoria and Johannesburg into a single workspace, located at... 

Vukile raises R900m after heavily oversubscribed placement

By: Samantha Herbst     18th July 2017 JSE-listed Vukile Property Fund has raised R900-million after closing a same-day, heavily oversubscribed bookbuild, initially aimed at raising R500-million. Seeing strong demand for shares, the real estate investment trust raised the capital through the placement of about 48-million new shares 

Heriot to list on AltX

By: Anine Kilian     17th July 2017 The JSE has granted real estate investment trust (Reit) Heriot a listing of all its issued ordinary shares in the diversified Reit’s sector on the AltX, effective July 24. Heriot is a newly incorporated company and has been established for the purposes of creating a listed property fund that will... 

Sisulu asks housing beneficiaries to not sell their houses

By: Anine Kilian     14th July 2017 Human Settlements Minister Lindiwe Sisulu has called on community members of Westonaria Borwa, in Johannesburg, to preserve their houses and look after the community infrastructure.   Sisulu visited the Westonaria housing project with Gauteng Human Settlements MEC Paul Mashatile on Thursday to... 

Property development JV announces Sandton mixed-use precinct development

By: David Oliveira     14th July 2017 Property management company Abland and construction company Tiber announced earlier this week that they will join forces to develop the Sandton Gate mixed-use precinct, comprising office, retail and residential building space with the added benefits of highly convenient access, a vast choice of... 

New tax regime punted as way to spur development of disused or degraded land

By: Dylan Slater     14th July 2017 Using tax increment financing to spur business development on disused or degraded land could be a highly feasible method to repurpose otherwise unusable land, as well as create jobs and encourage entrepreneurs and business in general.  

Minister Sisulu in Westonaria Borwa to hand over title deeds

By: African News Agency      13th July 2017 Human Settlements Minister Lindiwe Sisulu and Gauteng MEC Paul Mashatile will on Thursday hand over houses and title deeds to beneficiaries of Westonaria Borwa housing project. In a statement, the Human Settlements Department said the mega housing project includes BNG/RDP, bonded, gap market, and... 

Minister Sisulu in Westonaria Borwa to hand over title deeds
Human Settlements Minister Lindiwe Sisulu

SAB invests R2.8bn in expanding Gauteng breweries

By: Anine Kilian     11th July 2017 Multinational beverage and brewing company Anheuser-Busch InBev (AB-InBev) subsidiary South African Breweries (SAB) will invest R2.8-billion into brewery expansions, including two new packaging lines for returnable glass bottles, at its Alrode and Rosslyn breweries, in Gauteng. During a media... 

SAB invests R2.8bn in expanding Gauteng breweries
AB-InBev Africa president Ricardo Tadeu

Transnet not selling its property portfolio – spokesperson

By: Natasha Odendaal     11th July 2017 Transnet on Tuesday dismissed claims that its request for proposals (RFP) for the optimisation of its property portfolio was a R40-billion business opportunity to be taken advantage of. Responding to a statement issued by the Democratic Alliance (DA) last week, Transnet spokesperson Viwe Tlaleane... 

Vukile boosts offshore exposure to 21% in R2.8bn Spanish retail park transaction

By: Anine Kilian     3rd July 2017 JSE-listed real estate investment trust (Reit) Vukile Property Fund has acquired a portfolio of nine newly built retail parks across Spain through its 98.3%-owned Spanish subsidiary Castellana Properties. Castellana will acquire the nine properties from Redevco Iberian Ventures, a joint venture... 

Construction imminent at new Durban affordable housing development

By: Megan van Wyngaardt     3rd July 2017 Construction of a new affordable housing project at Bridge City – a joint venture between Tongaat Hulett and the eThekwini municipality – is due to start within the next few weeks. The development, 20 km north of the Durban central business district, will comprise 356 apartment units, priced from... 

Construction imminent at new Durban affordable housing development

WG Wearne posts FY17 losses amid tough market conditions

By: Megan van Wyngaardt     3rd July 2017 A subdued local construction market, paired with the R59-million closing out of its construction services business, has seen WG Wearne widen its loss from continuing operations from R18.4-million in 2016, to R28.8-million for the year ended February 28. In a copy of its financial statements,... 

Redefine expands Australian student accomodation footprint

By: Megan van Wyngaardt     3rd July 2017 JSE-listed Redefine Properties has acquired a new development site for student accommodation near the Melbourne University, in Australia. The 700-bed development, which will start in 2018, is expected to cost A$103.3-million, with Redefine’s share of the development cost set at A$93-million with... 

Redefine sells Delta stake to women-led BEE consortium in R1.45bn deal

By: Creamer Media Reporter      3rd July 2017 JSE-listed Redefine Properties has sold its 22.8% stake in Delta Properties to a women-led black economic empowerment (BEE) consortium in a R1.45-billion vendor-funded transaction. Black females own 51% of the consortium, with the balance of the shares held by Delta’s management and staff, of... 

New Tshwane light-steel frame building erected at speed

By: David Oliveira     30th June 2017 South African light-steel frame (LSF) construction company Futurecon has completed the construction of a R7-million 454 m2 facility, in Tshwane, for optometric service provider Spectacle Warehouse last month. Project architect Base Architects & Associates MD Darren Ogden explains that the only... 

Company leads by example in new green premises

By: Robyn Wilkinson     30th June 2017 Engineering consultant WSP Africa will be moving into its new head office in Knightsbridge office park in Bryanston, in September, providing its clients with a stellar example of a sustainable building project.  

Company leads by example  in new green premises
MATHIEU DU PLOOY South Africa has a very strong environmental stance, supported by powerful legislation

Gauteng housing department remains committed to megaprojects 

By: Anine Kilian     29th June 2017 The Gauteng Department of Human Settlements is committed to the implementation of 31 megaprojects that are expected to yield more than 300 000 houses when completed. Unpacking the 2017/18 financial year’s budget vote for the department, MEC Paul Mashatile on Thursday said the department would... 

EPP continues to see organic, acquisitive growth opportunities in Poland

By: Megan van Wyngaardt     29th June 2017 Having followed an aggressive strategy and completing five acquisitions in the three months ended March 31, JSE-listed real estate investment trust (Reit) Echo Polska Properties (EPP) is set for strong distribution growth in the year ahead, having reported distributable income a share of €2.74... 

Govt will spend R1.8bn to increase university lodgings by 2020

By: Megan van Wyngaardt     27th June 2017 The Department of Higher Education and Training has allocated around R1.8-billion to increase the number of available beds at public universities by 28 690 by 2020. In response to a Parliamentary question by opposition party, the Democratic Alliance, Higher Education and Training Minister Dr... 

TNPA unveils R255m admin building at Ngqura

By: Megan van Wyngaardt     27th June 2017 State-owned Transnet National Ports Authority (TNPA) has unveiled a new R255-million administration building – eMendi – at the Port of Ngqura, in the Eastern Cape. Speaking at the unveiling, TNPA CEO Richard Vallihu said the 10 000 m2 building was named in reference to the SS Mendi troop ship... 

TNPA unveils R255m admin building at Ngqura

PwC Tower receives commendation in Fulton Awards

By: Megan van Wyngaardt     23rd June 2017 The PwC Tower, in Midrand, which is nearing completion, has received a commendation in the buildings greater than three storeys category at the 2017 biennial Fulton Awards, hosted by the Concrete Society of South Africa. The PwC Tower is the twenty-fourth tallest twisted building in the world and... 

Stenprop mulls London listing as it pursues UK prospects

By: Mia Breytenbach     23rd June 2017 Following the acquisition of a portfolio of 25 multilet industrial (MLI) properties in the UK earlier this month, JSE-listed property investment company Stenprop is  considering the merits of a conversion to real estate investment trust status, as well as a possible listing on the LSE. The... 

Stenprop mulls London listing as it pursues  UK prospects
Photo by Bloomberg
ATTRACTIVE MARKET Stenprop earlier this month announced the £130.5-million acquisition of a portfolio of multilet industrial (MLI) properties in the UK

Dipula CEO to head Reit association

By: Megan van Wyngaardt     21st June 2017 The South African Real Estate Investment Trust (SA Reit) Association has appointed Dipula Income Fund CEO Izak Petersen as its chairperson.   He has extensive experience in the financial services environment spanning investment banking, asset management and property.  With over R400-billion in... 

Dipula CEO to head Reit association
SA Reit Association chairperson Izak Petersen

Ngebulana to step down as Rebosis CEO in September

By: Megan van Wyngaardt     20th June 2017 JSE-listed property developer Rebosis’s recent acquisition of two dominant regional shopping malls and management companies from Billion Group has necessitated the company making some key leadership changes. The company on Tuesday noted that it had become imperative to have dedicated and... 

Ngebulana to step down as Rebosis CEO in September
Rebosis CEO Sisa Ngebulana

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