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Property News

Growthpoint formalises name for its funds management business

By: Schalk Burger     11th April 2022 JSE-listed real estate investment trust (Reit) Growthpoint Properties has announced that its funds management business will be called Growthpoint Investment Partners to reflect its strategy to co-invest and co-manage specialist alternative real estate investment portfolios in which Growthpoint is... 

IWG, Attacq collaborate on flexible working

By: Tasneem Bulbulia     8th April 2022 Hybrid work solutions provider IWG and real estate investment trust (Reit) Attacq have partnered to expand their service offerings in the property industry, responding to the varying office needs and the emerging shift to hybrid working environments. The two have a combined vision to create a... 

Fast-growing Cape Town to launch Land Release Programme to assist affordable housing projects 

By: Irma Venter     5th April 2022 The City of Cape Town will launch its Land Release Programme for More Affordable Housing at its first Affordable Housing Indaba set to take place later this week.  The city says the programme has been informed by its assessment of suitable city-owned land, including land in and near the Cape Town... 

Image of affordable housing development in Cape Town

Afrimat Construction Index muted by slow infrastructure roll-out

By: Irma Venter     1st April 2022 The Afrimat Construction Index (ACI) has staged a swift recovery from the Covid-19-induced slump that occurred during the second quarter of 2020, increasing by 74% within only two quarters.   Since then, however, progress has been muted, owing mainly to the sedate roll-out of government’s... 

Beckman Coulter moves premises to Growthpoint’s Centralpoint

By: Darren Parker     28th March 2022 JSE-listed Growthpoint Properties has assisted long-standing tenant biomedical products manufacturer Beckman Coulter to relocate from Growthpoint Business Park in Midrand, Johannesburg, to a new bespoke 5 750 m2 premises in the Centralpoint Innovation District, in Samrand, Johannesburg. The... 

Beckman Coulter's new premises in the Centralpoint Innovation District in Samrand, Johannesburg
Beckman Coulter's new premises in the Centralpoint Innovation District in Samrand, Johannesburg

Human settlements dept implements policy changes  

By: Tasneem Bulbulia     25th March 2022 The Department of Human Settlements will, from April 1, implement a number of policy amendments, Human Settlements Minister Mmamoloko Kubayi outlined at a briefing on March 25. This follows the department’s visits to all nine provinces, where it engaged with leaders in the provinces, visited... 

Office-to-housing conversions hold some potential, but conditions apply

By: Tasneem Bulbulia     25th March 2022 As South Africa looks to recover from the impacts of Covid-19, the viability of the trend of converting office buildings into residential properties is under scrutiny, with local and international interest having seemingly been piqued, building on the momentum those property companies dabbling in... 

Engineering News and Mining Weekly cover image

Industrial sector demand for space increasing, tenants want more value, says Redefine

By: Schalk Burger     24th March 2022 While supply bottlenecks caused by Covid-19 lockdowns are easing and opening the door for commercial sector property growth, the market for industrial properties looks very different, raising the stakes for operators to think outside of the box, says JSE-listed property development company... 

Balwin expects modest increase in earnings a share for FY2022

By: Marleny Arnoldi     23rd March 2022 JSE-listed Balwin Properties has advised that its consolidated earnings a share for the year ended February 28, will increase by between 4% and 9% year-on-year to between 74.5c and 78.1c. Consolidated core headline earnings a share for the year are expected to increase by between 12% and 17%... 

Attacq reports significant debt reduction, increase in profit for the interim period

By: Darren Parker     22nd March 2022 JSE-listed real estate investment trust (Reit) Attacq reported a 34.1% increase in distributable income a share to 28.2c for the six months to December 31, 2021. Distributable income excluded the profit earned from the sale of residential units, which added an additional 9.35c a share. 

A photo of Waterfall City at night

Challenging six months ahead as WBHO exits Australia – Neff

By: Irma Venter     18th March 2022 It will be a challenging six months ahead as Wilson Bayly Holmes-Ovcon (WBHO) “navigates the consequences” of exiting the Australian construction market, says CEO Wolfgang Neff. “We’ll be dealing with some pressure to manage our Australian exposure.” 

Hyprop says trading performance back to pre-Covid-19 levels

By: Darren Parker     17th March 2022 Retail-focused real estate investment trust (Reit) Hyprop said on March 17 that trading performance had reverted back to pre-Covid-19 levels, or in some cases even higher. The Reit said the improved trading performance was driven by a repositioning strategy, which saw its sub-Saharan Africa... 

One of Hyprop's retail properties

Growthpoint delivers encouraging results despite tough interim period

By: Darren Parker     16th March 2022 Despite a tough operating period, JSE-listed Growthpoint Properties delivered a 17.6% increase in South African real estate investment trust (Reit) funds from operations and a 5.2% increase in distributable income a share of 76.9c for the six months to December 31, 2021. It also declared an... 

Growthpoint group CEO Norbert Sasse
Growthpoint group CEO Norbert Sasse

Atterbury completes fully let office development at Castle Gate

By: Schalk Burger     15th March 2022 Property developer and investor Atterbury has completed the development of a fully-let 6 000 m2, premium-grade office and gym in Pretoria’s Castle Gate precinct. “The latest addition to Castle Gate reflects Atterbury’s ethos for developing mixed-use nodes. Each new property type that we add makes... 

The fully-let office development at Castle Gate in Pretoria

Fujifilm's new head office in Sandton to also serve as Fujifilm Technology Centre Africa

By: Schalk Burger     15th March 2022 Technology multinational Fujifilm South Africa has turned the first sod, marking the start of construction of a new head office in Sandton, which forms part of Fujifilm’s ongoing commitment to the country, following its tenth year in the country and the opening of a new office and repair centre... 

An artist's impression of the new Fujifilm South Africa head office
An artist's impression of the new Fujifilm South Africa head office

Afrimat Construction Index muted by slow infrastructure rollout 

By: Irma Venter     15th March 2022 The Afrimat Construction Index (ACI) has staged a swift recovery from the Covid-19 induced slump that occurred during the second quarter of 2020, increasing by 74% within only two quarters.   Since then, however, progress has been muted, owing mainly to the sedate rollout of government’s... 

Image of construction site

FNB/BER Building Confidence Index reaches four-year high

By: Darren Parker     15th March 2022 The First National Bank (FNB)/Bureau for Economic Research (BER) Building Confidence Index (BCI) gained six points to 40 in the first quarter of this year, compared with 34 in the fourth quarter of 2021 – indicating a four-year high in building confidence in South Africa. The FNB/BER BCI reveals... 

cranes and construction site at sunset

Attacq announces plans, partnership to further uplift Phuthumani Primary School

By: Marleny Arnoldi     10th March 2022 JSE-listed real estate investment trust Attacq, through its corporate social investment initiative Attacq Foundation, has partnered with nonprofit organisation Sage Foundation to build and renovate classrooms at the Phuthumani Primary School, in Thembisa. The partners are building three new... 

Attacq CEO Jackie van Niekerk
Photo by Creamer Media's Marleny Arnoldi
Attacq CEO Jackie van Niekerk at a sod-turning ceremony in Thembisa

Local property market to feel economic pressure from Ukraine war, warns FNB

By: Marleny Arnoldi     7th March 2022 While it is still too early to determine what the impact of the Ukrainian/Russian conflict will be on South Africa’s property market, there are seemingly obvious potential impact points, says FNB Commercial Property Finance strategist John Loos. For example, he says, it seems the conflict is... 

Balwin CFO resigns for health reasons

By: Tasneem Bulbulia     4th March 2022 Jonathan Weltman has resigned as CFO of JSE-listed Balwin and as an executive director with effect from March 31, owing to health reasons. Balwin has appointed Jonathan Bigham as CFO and executive director, in line with the company’s succession planning, with effect from April 1. 

Challenging six months ahead as WBHO exits Australia – Neff 

By: Irma Venter     2nd March 2022 It will be a challenging six months ahead as Wilson Bayly Holmes-Ovcon (WBHO) “navigates the consequences” of exiting the Australian construction market, says CEO Wolfgang Neff. “We’ll be dealing with some pressure to manage our Australian exposure.” 

Image of WBHO CEO Wolfgang Neff
Wolfgang Neff

Zikalala unveils R340m housing project

By: Yvonne Silaule     1st March 2022 KwaZulu-Natal Premier Sihle Zikalala has unveiled a R340-million housing project, comprising 2 500 units, at the Big Five local municipality, in Umkhanyakude district. He said the African National Congress-led government pursued an integrated approach involving all spheres of government to ensure... 

Liberty Two Degrees sees sector improvements with Covid-19 abatement, vaccine momentum

By: Donna Slater     1st March 2022 Real estate investment trust Liberty Two Degrees (L2D) reports that, as Covid-19 restrictions eased and vaccinations gained momentum, consumer confidence and retail trade improved in the last quarter of 2021, resulting in its financial and operational metrics improving. L2D CE Amelia Beattie says... 

Govt turns to private property firms to breathe new life into unused public buildings 

By: Terence Creamer     22nd February 2022 Public Works and Infrastructure Minister Patricia de Lille has unveiled a strategy for attracting government departments back to abandoned public buildings by entering into long-term lease agreements with private property companies, which will refurbish, repurpose and operate buildings over a 15-... 

Public Works and Infrastructure Minister Patricia de Lille
Public Works and Infrastructure Minister Patricia de Lille

The Mix Waterfall achieves R250m in sales since opening

By: Donna Slater     18th February 2022 Real estate investment trust Attacq and joint venture partner D2E Properties report that the Midrand Waterfall precinct-based high‐rise residential development The Mix Waterfall has achieved R250-million in sales since officially launching in late July 2021. Set for completion in early 2024, The... 

Improvon breaks ground on logistics facility at Rand Airport commercial park 

18th February 2022 Real estate investment company Improvon on February 16 broke ground on a new warehouse and logistics facility, the Dakota Precinct, at Rand Airport commercial park. Tasneem Bulbulia tells us more.  

Improvon breaks ground on logistics facility at Rand Airport commercial park
Improvon breaks ground on logistics facility at Rand Airport commercial park

Sector key in economic recovery

18th February 2022 National construction industry body Construction Industry Development Board (CIDB) acting CEO Bongani Dlala says the construction sector can lead South Africa’s recovery as the country emerges into a post-Covid-19 economy, but only if emerging contractors are empowered. This was the consensus... 

Shopping centre development well under way

18th February 2022 Last month, Centurion-based construction company Tri-Star Construction announced it had been selected as the main contractor on the development of the Mamelodi Square Shopping Centre in Pretoria, Gauteng. The release explains that rural retail development specialists McCormick Property... 

An artists depiction of what the Mamlodi Square Shopping Centre will look like once completed the project undertaken by McCormick Properties was awarded to Tri-Star Construction
'CENTRE' OF ATTENTION Construction of the Mamlodi Square Shopping Centre started last month

Improvon breaks ground on R1.3bn logistics facility at Rand Airport commercial park

By: Tasneem Bulbulia     16th February 2022 Real estate investment company Improvon on February 16 broke ground on a new warehouse and logistics facility, the Dakota Precinct, at Rand Airport commercial park. The development will be split into five phases with a combined land area of 250 000 square metres of, which 130 000 square metres... 

An aerial view of Rand Airport
An aerial view of Rand Airport

Emira remains resilient in a still tough environment

By: Marleny Arnoldi     16th February 2022 JSE-listed Emira Property Fund posted a marginal decrease in distributable earnings to R329-million for the six months ended December 31. The real estate investment trust had, however, declared a higher interim dividend at 56.59c apiece, compared with an interim dividend of 52c apiece declared... 

Emira CEO Geoff Jennett
Emira CEO Geoff Jennett

The Brickworks to offer large-stand industrial park springboard in Durban

By: Donna Slater     15th February 2022 Property developer Investec Property, a subsidiary of Investec Bank, is redeveloping an old brick manufacturing site – the disused 157 ha Corobrik site in Durban’s northern motorway corridor – into an industrial park called The Brickworks. Primarily targeted towards logistics and distribution... 

An image of The Brickworks industrial park
The Brickworks industrial park is located between Riverhorse Valley and Umhlanga

Dube TradePort opens mini factories for SMMEs

By: Schalk Burger     14th February 2022 The Dube TradePort Special Economic Zone (SEZ) has opened a R90-million mini-factory complex development aimed at supporting small, medium-sized and microenterprises (SMMEs) requiring light manufacturing, assembly and warehousing. The SEZ's development team had identified an opportunity to enable... 

Ericsson South Africa relocates to Waterfall City

By: Darren Parker     14th February 2022 Swedish telecommunications company Ericsson has relocated its South African operations from Woodmead, in Sandton, to Waterfall City, in Midrand. The company said the motivation for choosing Waterfall was that it was an “award-winning hub of collaboration, innovation, sustainability and... 

A photo of Ericsson's new location in Waterfall City, in Midrand
Ericsson has relocated its South African operations to Waterfall City, in Midrand

Growthpoint, partners to convert Bedfordview office building into housing

By: Tasneem Bulbulia     7th February 2022 JSE-listed Growthpoint Properties, in a joint venture with Setso Property Fund (49%) and in collaboration with BlackBrick Hotels, will be undertaking the R200-million residential conversion of its Riverwoods office park in St Andrews, Bedfordview. The development is a response to the surplus of... 

Real estate industry weathers pandemic, July unrest with united response

By: Donna Slater     4th February 2022 The real estate industry was able to weather the Covid-19 pandemic and July 2021 civil unrest owing to industry stakeholders uniting and creating mechanisms that ensured sufficient liquidity, says Nedbank Corporate and Investment Banking (CIB) property finance managing executive Gary Garrett.... 

Kubayi launches Property Practitioners’ Regulatory Authority

By: Yvonne Silaule     3rd February 2022 Human Settlements Minister Mmamoloko Kubayi this week officially launched the Property Practitioners’ Regulatory Authority (PPRA), formerly known as the Estate Agency Affairs Board (EAAB). The Property Practitioners Act (PPA), which governs the PPRA, came into effect on February 1. The Act... 

Hyprop to acquire five Balkan retail centres in R3.32bn deal with Hystead

By: Donna Slater     28th January 2022 Real estate investment trust Hyprop, through a “liquidity event” of real estate investor Hystead – a company held 60% by Hyprop and 40% by PDI Investment – is set to acquire five dominant retail centres in the Balkan region of Eastern Europe following the dissolving of agreements between Hyprop... 

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