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Property News

Afrimat, Hemporium build world’s tallest hemp-product building 

By: Irma Venter     4th July 2022 In a global first, 84 Harrington Street is the world’s tallest building being constructed using hempcrete blocks and hemp building materials, says the partnership between two Cape Town-based companies, Hemporium and Afrimat Hemp. The joint venture believes the project is “setting the benchmark on... 

Hyprop reduces LTV to 40%, repositioning portfolio for sustainable growth

By: Schalk Burger     29th June 2022 JSE-listed real estate investment trust Hyprop's current consolidated loan-to-value (LTV) is about 40%, down from a historic 47%, the company said in a pre-close update on June 29. This is owing to several interventions, including the completion of the disposal of the Delta City Mall in... 

DPWI undertaking bulk infrastructure installation at new mixed-use development

By: Donna Slater     29th June 2022 The Department of Public Works and Infrastructure (DPWI) is building and installing bulk and internal infrastructure at the Salvokop Precinct Development – a mixed-use precinct project, which forms part of the greater Tshwane Inner City Regeneration Programme. Located in close proximity to the... 

An image of sod-turning at the Salvokop Precinct Development
Public Works and Infrastructure Minister Patricia de Lille (middle-left) is joined by Home Affairs Minister Dr Aaron Mostoaledi (middle-right) and Social Development Minister Lindiwe Zulu (second-right) at a sod-turning ceremony of the Salvokop Precinct Development.

Attacq Foundation hosts bursary session for students

By: Darren Parker     24th June 2022 Corporate social investment initiative the Attacq Foundation held its bursary session for students studying property-related and engineering courses at partner institutions on June 24. The students’ studies are facilitated and managed collectively by the South African Property Owners Association... 

Attacq social executive Janine Palmer
Attacq social executive Janine Palmer

Western Cape starts construction on Cape Agulhas housing project

By: Yvonne Silaule     24th June 2022 Western Cape Infrastructure Minister Tertuis Simmers this week turned the sod to mark the first phase of construction of the Deferred Ownership Project, in Cape Agulhas. The R55-million project is aimed at making affordable homes available for first time home buyers residing in the Bredasdorp and... 

Informal settlements near North West mining areas to be upgraded

By: Yvonne Silaule     24th June 2022 Informal settlements in the mining areas around the Bojanala and Dr Kenneth Kaunda districts, in the North West, will soon be upgraded as the provincial Department of Human Settlements sets out to fast-track upgrades. The expanding informal settlements are close to mining areas and mainly house... 

Afrimat Construction Index shows first quarter decline 

By: Irma Venter     23rd June 2022 Although the Afrimat Construction Index (ACI) has marginally outperformed South Africa’s gross domestic product (GDP) growth rate during the first quarter of 2022 on a year-on-year basis, the index has returned to a trend of declining between each year’s fourth quarter and the first quarter of... 

Image of a construction site

S&J Industrial Estate development applies for EcoDistricts certification

By: Darren Parker     22nd June 2022 The new S&J Industrial Estate, situated on the south-eastern corridor of Johannesburg, has applied to become the first EcoDistricts-certified precinct outside of North America. EcoDistricts promotes new models of urban development to empower just, sustainable and resilient neighbourhoods.... 

S&J estate traffic circle

Massmart opens new flagship Riversands distribution centre

By: Darren Parker     14th June 2022 Retail company Massmart officially opened its new distribution centre in Riversands, Johannesburg, on June 14. The 75 000 m2 warehouse is the second of three new facilities in Massmart’s new centralised network, which uses shared distribution centres to serve stores across the entire group. 

Massmart's new Riversands distribution centre

OpenSpace launches ‘Google Street View’ for construction projects  

By: Irma Venter     10th June 2022 Stellenbosch-based Agile Business Technology (ABT) has partnered with US group OpenSpace to launch its 360° capture and artificial intelligence (AI) platform for construction projects in South Africa. By using the 360° images generated in OpenSpace to document an evolving jobsite, teams can... 

Image of ABT architecture, engineering and construction solutions director Jaco Barnard
Jaco Barnard

Vukile posts strongest year-end results yet

By: Darren Parker     9th June 2022 JSE-listed specialist retail real estate investment trust (Reit) Vukile Property Fund has announced a 9.5% increase in earnings for its financial year to March 31 and declared a total dividend of 105.8c a share, while retaining R308-million to fund growth opportunities. “When you look at... 

Vukile CEO Laurence Rapp
Vukile CEO Laurence Rapp

At least 50% of Lanseria smart city’s housing will need to be subsidised

By: Darren Parker     9th June 2022 At least 50% of the housing planned for the Lanseria smart city initiative will need to be subsidised or cross subsidised to maximise inclusion, Gauteng Department of Economic Development deputy DG Jak Koseff said at the African Smart City Summit, in Midrand, on June 8. He said the development of... 

Lanseria smart city plans
Lanseria smart city plans

Developers break ground on mixed-use residential neighbourhood Barlow Park

By: Tasneem Bulbulia     2nd June 2022 Barlow Park is set to become Sandton’s new residential neighbourhood and will offer affordable housing. Bulk earthworks for the first phase of the R3-billion-project started in June, and will turn the property, which previously housed Barloworld’s corporate office, logistics and equipment head... 

Fairvest declares first dividend after merger with Arrowhead

By: Schalk Burger     1st June 2022 JSE-listed real estate investment trust Fairvest on June 1 announced its first interim results as a merged entity, and declared dividends equal to 100% of distributable income at 61.52c per A share and 21.33c per B share for the six months ended March 31. "Retail is the core of our business and... 

BON Hotels takes over Queen’s Hotel in Oudtshoorn

By: Tasneem Bulbulia     1st June 2022 Hospitality management company BON Hotels’ team has taken over the management of  the Queen’s Hotel, in Oudtshoorn, with BON Hotels CEO and founder Guy Stehlik calling this a “new and exciting chapter for the group”. “Established in 1880, and recently restored to her original beauty, the Queen’s... 

An image showing Queen’s Hotel in Oudtshoorn
Queen’s Hotel

Attacq appoints leaders to bolster broader corporate strategy

By: Donna Slater     26th May 2022 JSE-listed real estate investment trust Attacq has appointed David Oosthuizen development executive and Lourens Du Toit sustainability, infrastructure and land head – both as a result of internal promotions, which the company says is an indication of the strength of the talent pipeline it has... 

Despite some challenges, most property market segments remain buoyant

By: Schalk Burger     26th May 2022 The different segments of the property market were experiencing different pressures, but all remained generally bouyant, with interest rates supportive of demand for property, said industry specialists during a webinar hosted by financial services firm Nedbank Private Wealth on May 25. The... 

Green Building Council relocates to new building in Cape Town

By: Donna Slater     25th May 2022 The Green Building Council South Africa (GBCSA) will be moving to a new 330 m3 green office at Growthpoint Properties’ River Park facility, in Mowbray, in Cape Town, on June 1 under a three-year lease. River Park recently improved its green rating to a GBCSA 5-Star Green Star SA – Existing... 

An image of Green Building Council South Africa's new Cape Town offices
The Green Building Council South Africa's new Cape Town offices

Corobrik launches new R800m Kwastina brick factory 

25th May 2022 President Cyril Ramaphosa and Corobrik CEO Nick Booth officially unveiled the company’s new R800-million Kwastina brick factory, in Gauteng, earlier this month. Tasneem Bulbulia attended the launch.  

Corobrik launces new R800m Kwastina brick factory
Corobrik launces new R800m Kwastina brick factory

Nedbank arranges R500m sustainability-linked loan for Old Mutual Property

By: Schalk Burger     23rd May 2022 Financial services firm Nedbank Corporate and Investment Banking (CIB) has coordinated, arranged and structured a R500-million sustainability-linked credit facility for Old Mutual Property to encourage increased consumption of renewable energy as a percentage of Old Mutual Property’s total energy... 

Index shows ‘green’ buildings perform better than non-certified ones on every metric

By: Marleny Arnoldi     19th May 2022 Certified green buildings continue to outperform non-certified assets in the commercial property sector, the MSCI South Africa Green Annual Property Index shows. Particularly, certified green, prime and A-grade offices outperformed non-certified assets of a similar quality by 170 basis points... 

Emira sells Enyuka shareholding to One Property for R637m

By: Schalk Burger     18th May 2022 JSE-listed real estate investment trust Emira Property Fund will sell its entire 49.9% stake in rural and lower-living standards measure retail property Enyuka Property, which is a joint venture  (JV)with One Property, to its JV partner for R637-million, representing a small premium to book... 

Indluplace posts lower interim revenue, profit, despite improved letting activity

By: Darren Parker     18th May 2022 JSE-listed real estate investment trust (Reit) Indluplace has reported a 4% year-on-year decrease in revenue and a 7% year-on-year decrease in operating profit for the six months ended March 31. The Reit owns a portfolio of 9 220 residential units and 15 549 m2 of associated retail space. The... 

Investec Property Fund declares 11% higher dividend for FY22

By: Marleny Arnoldi     18th May 2022 Property firm Investec Property Fund (IPF) has posted a 10.8% increase in distributable income per share (DIPS) of 107.6c for the financial year ended March 31, compared with DIPS of 97.08c in the prior financial year. The company declared a final dividend of 52.46c apiece, adding up to the... 

Emira grows US investment

By: Tasneem Bulbulia     16th May 2022 JSE-listed Emira Property Fund has acquired its twelfth grocery-anchored open-air shopping centre in the US. Always investing together with its in-country US investment partners, the Rainier Group of Companies, Emira has now invested a further $18.45-million into the equity of a 542 000 ft2... 

Redefine reinstates interim dividend at 23.69c

By: Marleny Arnoldi     16th May 2022 JSE-listed real estate investment trust (Reit) Redefine Properties has posted 5.9% higher distributable income at R1.5-billion for the six months ended February 28. Distributable income a share amounted to 26.33c apiece, compared with distributable income a share of 26.18c apiece in the prior... 

Balwin declares dividend on the back of record revenue, lifts profit by 15%

By: Donna Slater     16th May 2022 JSE-listed property developer Balwin Properties increased its profit for the financial year ended February 28 by 15% year-on-year, resulting in a profit margin of 27%, while revenue increased by 16% to R3.1-billion. As a result, Balwin’s net asset value increased by 10% to R7.49 a share. 

Sustainability, affordable housing demand underpin Calgro M3’s strong full-year performance

By: Schalk Burger     16th May 2022 JSE-listed property development company Calgro M3 CEO Wikus Lategan attributes a 50.3% increase in group revenue to R1.32-billion for the financial year ended February 28, to demand for and sales of affordable housing units, as well as the company's focus on sustainable developments and its own... 

Octodec records solid performance in tough climate on the back of digitalisation initiatives

By: Tasneem Bulbulia     10th May 2022 JSE-listed real estate investment trust Octodec Investments recorded a solid performance for the six months ended February 28, against a backdrop of subdued market recovery. Speaking to Engineering News on May 9, MD Jeffrey Wapnick said the period was tough, with Covid-19 and some restrictions,... 

Dipula posts good interim results under ‘extremely challenging conditions’

By: Schalk Burger     5th May 2022 JSE-listed diversified real estate investment trust Dipula Income Fund increased its distributable earnings by 0.1% to R275.7-million for the six months ended February 28. It maintained a 100% pay-out ratio, resulting in 5% growth in A-share distributions to 61.97c a share and B-share... 

Warehouse demand growth boosts Equites’ full-year results

By: Darren Parker     4th May 2022 Intensifying demand for modern and future-proof warehousing solutions contributed to a strong financial year for real estate investment trust (Reit) Equites Property Fund. “Logistics properties globally continue to outperform, supported by sustained demand in the tenant and investor markets. 

Equites CEO Andrea Taverna-Turisan
Equites CEO Andrea Taverna-Turisan

Fairvest to list on A2X

By: Tasneem Bulbulia     4th May 2022 Property company Fairvest has been approved for a secondary listing on A2X Markets and will be available to trade on the exchange from May 11. This follows the merger of Arrowhead Properties and Fairvest Property, creating the largest South African-focused real estate investment trust. 

SA Corporate Real Estate to list on A2X

By: Schalk Burger     25th April 2022 JSE-listed real estate investment trust SA Corporate Real Estate has been approved for a secondary listing on A2X Markets and its shares will be available for trade on A2X from May 3. The company will retain its primary listing on the JSE and its issued share capital will be unaffected by its... 

Industrials acquires four multi-let UK estates for £21-million

By: Schalk Burger     21st April 2022 JSE-listed real estate investment trust (Reit) Industrials REIT has acquired four multi-let industrial estates in Boston, Barnsley, Leeds and Stockton on Tees, in the UK, for £20.86-million. The purchase price reflects a blended net initial yield (NIY) of 5.7% and an average capital value of... 

Nedbank extends R200m green loan for Vukile solar projects

By: Schalk Burger     19th April 2022 JSE-listed real estate investment trust Vukile Property Fund has concluded a five-year, R200-million use-of-proceeds green loan with financial services firm Nedbank Corporate and Investment Banking, which will fund 19 solar energy projects and energy-efficiency initiatives across South Africa.... 

Maluti Crescent in Phuthaditjhaba
Maluti Crescent in Phuthaditjhaba

RIB sponsors free-to-use tool to help make buildings more sustainable

By: Schalk Burger     19th April 2022 Architecture, engineering and construction (AEC) technology multinational RIB has partnered with nonprofit organisation Building Transparency, which developed and provides a free and open-access tool targeted at reducing the impact of embodied carbon and making the AEC industry more efficient and... 

Fairvest confirms its assets in KZN remain undamaged so far

By: Marleny Arnoldi     13th April 2022 JSE-listed property company Fairvest has assured shareholders that no damage of a structural nature has occurred to its properties in KwaZulu-Natal as yet, amid the flash flooding being experienced in the province. The group has 16 assets in the province, representing 11% of its total... 

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