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Property News

Calgro M3 ahead of years-long net debt reduction targets

By: Marleny Arnoldi     18th October 2021 Property developer and investor Calgro M3 says it has come a long way since its portfolio streamlining and transformation efforts started in 2016, particularly as the company is also coming out of what had been heavy Covid-19 impacts. The group posted a 262% increase in headline earnings a... 

Dipula agrees transaction with Resilient to optimise capital structure

By: Tasneem Bulbulia     15th October 2021 South-African focused diversified real estate investment trust (Reit) Dipula Income Fund has concluded formal agreements with Resilient Reit, which is intended to help Dipula optimise its capital structure and unlock shareholder value. In terms of the transaction, Dipula will acquire 50% of the... 

More than 30 developments in the pipeline in Cape Town CBD – report

By: Irma Venter     14th October 2021 The economy of the Cape Town central business district (CBD) remained stable in 2020, despite Covid-19, with the official nominal value of all property set at R43.8-billion by the City of Cape Town, and with 31 new developments worth more than R6.9-billion in the pipeline. This is the key finding... 

Image of the Cape Town city centre

House price growth continued to slow in September – FNB

By: Schalk Burger     11th October 2021 The slowing trend in house price growth continued in September, with financial services company FNB's House Price Index decelerating to 3%, from 3.6% in August. This means house price growth averaged 3.5% in the third quarter of this year, down from a peak of 4.8% in the second quarter. 

Equites’ logistics portfolio delivers exceptional growth

By: Simone Liedtke     5th October 2021 JSE-listed property developer Equites Property Fund remains on track to deliver on its dividends per share (DPS) guidance of between 5% and 6% growth for the 2022 financial year. For the same period, Equites is also targeting a positive net asset value per share (NAVPS), which will be supported... 

Research shows where, how housing developments are built impact on residents' carbon footprints

By: Creamer Media Reporter      30th September 2021 A new quantitative study on the impact of the location of housing development in Johannesburg on carbon emissions - by the research partnership of Divercity Urban Property Fund and the Green Building Council South Africa (GBCSA) - shows that where and how housing is built in the city has a... 

Physical retail outlets, online channels needed to serve evolving retail client needs, says Redefine

By: Schalk Burger     30th September 2021 Although transactions are increasingly moving online, physical outlets remain crucial to effectively serve retail customers, real estate investment trust Redefine Properties national retail asset manager Nashil Chotoki said this week. He told investors during a briefing on September 29 that, to... 

Western Cape turns the sod at three integrated human settlement developments

By: Yvonne Silaule     20th September 2021 Western Cape Human Settlements Minister Tertuis Simmers last week presided over three sod turnings as part of the development that forms part of the Integrated Residential Development Programme (IRDP). The Blompark housing development, in Gansbaai, which has a budget allocation of just over... 

GBCSA congratulates Redefine on 40 Green Star certifications

By: Tasneem Bulbulia     17th September 2021 JSE-listed South African real estate investment trust (Reit) Redefine Properties recently certified and recertified 40 buildings in its property portfolio, under member-based organisation the Green Building Council South Africa’s (GBCSA’s) Green Star Existing Building Performance (EBP) rating... 

Competition Tribunal approves Growthpoint, Feenstra Group merger

By: Simone Liedtke     17th September 2021 The Competition Tribunal has unconditionally approved the large merger whereby Growthpoint Properties will acquire Joburg Stay from Feenstra Group.   This transaction involves an internal reorganisation of the Feenstra Group. As such, the target firms are Joburg Stay, seven Gauteng student... 

Growthpoint achieves revenue growth but lower distributable income

By: Simone Liedtke     15th September 2021 JSE-listed Growthpoint Properties’ distributable income, on a per share basis, declined by 19.1% to 148.1c for the financial year ended June 30, mainly as a result of 408-million new shares having been issued in an oversubscribed equity raise of R4.3-billion in November last year. During the same... 

EPP swings to profit in H1

By: Marleny Arnoldi     15th September 2021 JSE-listed real estate investment trust (Reit) EPP has managed to grow its distributable earnings a share for the six months ended June 30 by 54% year-on-year to €0.0366. During the six months, it also added four retail parks to its portfolio.  

EPP CEO Tomasz Trzósło
EPP CEO Tomasz Trzósło

Hyprop advances its strategy

By: Tasneem Bulbulia     15th September 2021 JSE-listed real estate investment trust Hyprop Investments says it has made good progress in executing its strategy for the year ended June 30. It has moved ahead on all its priorities, including strengthening the balance sheet, advancing the implementation of its non-tangible strategy with the... 

Attacq withholds dividend for the sake of Waterfall City development

By: Marleny Arnoldi     14th September 2021 JSE-listed real estate investment trust (Reit) Attacq has reported strong distributable income growth from its South African operations for the financial year ended June 30 However, group distributable income decreased by 35.9% year-on-year to 46.8c a share.  

Attacq withholds dividend for the sake of Waterfall City development

Fairvest records strong full-year performance

By: Tasneem Bulbulia     13th September 2021 JSE-listed Fairvest Property Holdings delivered a guidance-beating 5% increase in distributions a share to shareholders of 22.06c for the financial year ended June 30. The company on September 13 noted that it had been a challenging period for retail-focused real estate investment trusts (Reits)... 

Rosebank developments require greater city involvement  

8th September 2021 The Rosebank node has enjoyed much success and years of developments; however, there are a number of challenges that require further support from the City of Johannesburg to mitigate, and to bolster further developments in the area. Tasneem Bulbulia tells us more. 

Rosebank Development image
Rosebank developments require greater city involvement. Photographs by John Hogg

Fortress acquires first logistics park in Romania

By: Simone Liedtke     7th September 2021 Real estate investment trust (Reit) company Fortress Reit has concluded its first logistics acquisition in Romania, after reaching an agreement with Element Industrial and Paval Holding for Eli Park 1, an A-grade industrial development, located in Buftea-Chitila. Fortress’ long-term strategy to... 

Pic of Fortress Logistics Eli Park 1
Fortress Logistics Eli Park 1

Swindon’s African Cities Insights report shows positive signs for the property sector

By: Tasneem Bulbulia     6th September 2021 Almost no commercial property sector in the world has not been impacted on by the pandemic, with many African cities struggling with high vacancy rates. There are, however, positive signs of a rebound, says commercial and industrial real estate company Swindon Property in its first 'African... 

Balwin initiates BEE deal

By: Marleny Arnoldi     6th September 2021 JSE-listed Balwin Properties has received shareholder approval for the implementation of a black economic empowerment (BEE) transaction. CEO Steve Brookes says he haS been working on a suitable empowerment transaction since the company’s listing on the JSE early in 2016, and is delighted about... 

Balwin CEO Steve Brookes
Balwin CEO Steve Brookes

Investec inks agreement to finance two major hospitals in Ghana

By: Simone Liedtke     2nd September 2021 Investec Bank has announced the signing of a €215-million agreement to finance two major hospital projects in Ghana. The financing comprises two loans in favour of Ghana’s Ministry of Finance, with Investec having acted as sole mandated lead arranger (MLA) for both loans. 

Pic of Artist impression of the new hospital in Ghana
Artist impression of the new hospital in Ghana

Hyprop expects to report full-year loss

By: Simone Liedtke     30th August 2021 Specialised shopping centre real estate investment trust (Reit) Hyprop has advised that it expects its distributable income per share to be between 326c and 346c for the financial year ended June 30. This, the company said on August 30, is between 147c and 167c or between 30% and 34% lower than... 

Rubicon to make the move to Richmond Park development

By: Simone Liedtke     27th August 2021 Sustainable technology company Rubicon will combine its operations, currently spread across six different locations in Cape Town, into one tailor-made multimillion-rand facility that includes a 7 900 m2 warehouse and 1 400 m2 of offices incorporating a 250 m2 showroom. Construction of the... 

Pic/Image of Render of the Rubicon facility
Render of the Rubicon facility

Resilient proposes R1bn investment in Dipula Income Fund

By: Simone Liedtke     27th August 2021 Real estate investment trust (Reit) Resilient has proposed investing in JSE-listed Dipula Income Fund, but only if Dipula first simplifies its dual share capital structure. Resilient envisages that it will co-own suitable retail assets with Dipula and will continue to support Dipula to play a... 

Opportunities for women in the property valuation sector

By: Anna Moross     27th August 2021 The South African Institute of Valuers (SAIV) emphasises the importance of women being recognised as equal players among their male counterparts in the field of valuation and property.  

An image of Natalie Ginsberg, VP of SAIV
NATALIE GINSBERG Working in a male-dominated industry means that, more often than not, women have to work harder to prove their worth

Redefine to lose $8m from rental relief, deferrals in 2021

By: Reuters     25th August 2021 South Africa's Redefine Properties said on Wednesday it will lose an estimated 125 million rand ($8.4 million) from rental relief and deferrals for the 2021 financial year due to the impact of the coronavirus but may pay an annual dividend. South African commercial real estate has been among the... 

Rosebank developments thriving, but greater city involvement required

By: Tasneem Bulbulia     25th August 2021 The Rosebank node has enjoyed much success and years of developments; however, there are a number of challenges that require further support from the City of Johannesburg to mitigate, and to bolster further developments in the area. This was the key message emerging from a Rosebank media walk,... 

An image of a street view of the Radisson RED Johannesburg Rosebank
Photo by Creamer Media's Tasneem Bulbulia
Radisson RED Johannesburg Rosebank

Inclusive property development necessary to address South Africa's socioeconomic issues - ASAQS

By: Schalk Burger     23rd August 2021 In the wake of the July incidences of looting and destruction, South Africa needs to rethink the role property development can play in addressing a variety of socioeconomic issues, says Association of South African Quantity Surveyors (ASAQS) VP Mosha Senyolo. “We should have conversations about... 

Steyn City residential estate adds helistop to luxury offering

By: Simone Liedtke     23rd August 2021 Residential estate Steyn City, located between Sandton and Midrand, has launched its Ultimate Helistop – notching a first for residential developments in South Africa. Steyn City was introduced to the market in 2015, setting new standards by offering a living space with unparalleled facilities... 

Emira records strong year despite headwinds

By: Tasneem Bulbulia     18th August 2021 JSE-listed Emira Property Fund has declared a final dividend of 66.65c apiece, taking the dividend for its financial year to June 30 to 118.65c apiece – up 13.7% on the previous year. The company’s full-year distributable earnings of R649.1-million was 3.2% lower year-on-year, but Emira declared... 

Property company the first in South Africa to accept crypto for rental deposits

By: Tasneem Bulbulia     17th August 2021 Affordable residential and student housing specialist Quorum Holdings is the first in South Africa to accept rental deposits in cryptocurrency, and to allow tenants to potentially benefit from an increase in value, the company says in a statement. While rental deposits are standard practice in... 

Growthpoint decides against Globalworth buyout offer

By: Schalk Burger     13th August 2021 JSE-listed real estate investment trust Growthpoint's board has not accepted the offer by Aroundtown SA and CPI Property Group for Central and Eastern Europe real estate company Globalworth, in which Growthpoint holds a 29.4% stake. The Growthpoint board agreed with the independent committee of... 

Cement producers apply for tariff protection against imports

By: Irma Venter     13th August 2021 The domestic cement industry is waiting for a response from the International Trade Administration Commission of South Africa (Itac) on its application for tariffs to be levied on imported cement from certain Asian countries, says PPC Southern Africa MD Njombo Lekula. “The application is with... 

Polish shopping centres join vaccination drive

By: Tasneem Bulbulia     11th August 2021 JSE-listed EPP has joined Poland’s nationwide campaign to promote Covid-19 vaccination by introducing vaccination points and actively promoting vaccination in shopping centres across the country. Nearly 12 000 people have been vaccinated in five EPP shopping centres so far. 

IFC, Letshego Africa partner to increase affordable housing access in Namibia

By: Tasneem Bulbulia     11th August 2021 World Bank Group member the International Finance Corporation has partnered with pan-African finance organisation Letshego Africa to increase access to affordable housing finance for thousands of individuals in Namibia, with the potential to expand its partnership to other countries. The IFC’s... 

Smart buildings and infrastructure data must be designed to protect personal data

By: Schalk Burger     11th August 2021 Smart buildings can yield considerable value when it comes to monitoring occupancy rates and supporting a safe and healthy environment, but it must be remembered that digitally engineered buildings generate a substantially large quantity of data, says construction sector information company... 

Radisson Hotel Middelburg to be the group's sixteenth in South Africa

By: Schalk Burger     10th August 2021 Hospitality multinational Radisson Hotel Group will build its sixteenth hotel in South Africa – the Radisson Hotel Middelburg, which will open at the end of 2023. The hotel is part of the group’s expansion plan in South Africa. It also places the group firmly on track to reach its ambition of... 

Fortress REIT launches R900m sustainability-linked bonds

By: Tasneem Bulbulia     10th August 2021 JSE-listed real estate investment trust (Reit) Fortress Reit has launched R900-million in sustainability-linked bonds, aligned to its ongoing strategic environmental, social and governance plan to scale up its renewable energy generation for its own use and potentially also for sale to the grid... 

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