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Property News

Covid exacerbates retail sector challenges

By: Nadine Ramdass     30th July 2021 Amid the negative impact of Covid-19 on the retail property sector, real estate investment trust company Liberty Two Degrees (L2D) FD José Snyders says rental relief enables retail businesses to navigate the effects of the pandemic while ensuring that retail spaces remain appealing to the public.... 

Pandemic can spur innovation in property sector

By: Nadine Ramdass     30th July 2021 Although the pandemic has made it difficult for commercial and industrial property stakeholders to plan effectively for the future, this has led to great innovations, new approaches and renewed opportunities, says engineering services consulting firm WSP Africa regional director Johan Piekaar.... 

Retail opportunities abound in peri-urban areas

By: Nadine Ramdass     30th July 2021 Peri-urban areas have immense opportunities for investment in commercial properties, such as shopping complexes and warehouses for retailers, says 100% black-owned property development, management and investments company Akani Properties MD Zamani Letjane. “We saw opportunities in the property... 

An image of an aerial view of the Autumn Leaf Mall
AERIAL VIEW OF AUTUMN LEAF MALL Akani Properties complements peri-urban areas’ retail property sector

Central, Eastern Europe provides options for South African property diversification

By: Tasneem Bulbulia     29th July 2021 South Africa is in super cycle stagnation phase and moving into a volatile period and, therefore, diversification of portfolios is certainly justified, FNB Commercial Property Finance economist John Loos said, speaking during hybrid fund Fortress REIT’s webinar on June 29. Loos explained that the... 

Office building in Botswana receives 5-Star Green rating

By: Marleny Arnoldi     27th July 2021 Botswana-based PrimeTime Property Holdings’ Motswere building has been awarded a 5-Star Green Star Africa – Office Design v1.1 rating by the Green Building Council South Africa. The building marks the council’s first green star-rated building in Botswana.  

Botswana-based PrimeTime Property Holdings’ Motswere building
Botswana-based PrimeTime Property Holdings’ Motswere building

Redefine unpacks its R1bn sustainability bond  

By: Marleny Arnoldi     26th July 2021 JSE-listed Redefine Properties has launched a R1-billion sustainability-linked bond on the JSE, which marks the largest amount raised so far by a South African real estate investment trust in what is a growing sustainability bond space. The company explains in a release that the funds will be... 

Botswana-based PrimeTime's Motswere building
Botswana-based PrimeTime's Motswere building

L2D declares interim dividend, despite challenges  

By: Marleny Arnoldi     26th July 2021 JSE-listed real estate investment trust Liberty Two Degrees (L2D) has, notwithstanding a challenging operating environment, declared an interim dividend of 15.79c a share for the six months ended June 30. On releasing its results on July 26, L2D’s share price rose by 3.96% to 499c apiece.  

L2D's Nelson Mandela Square
L2D CEO Amelia Beattie talks about the company's interim performance.

$31m mixed-use office precinct to be built in Mauritius

By: Schalk Burger     23rd July 2021 Mauritius-based Gateway Real Estate Africa (GREA) is developing a $31-million mixed-use office development – The Precinct – in Grand Baie. The development is designed to accommodate corporate tenants’ fluctuating space needs in addition to catering for the gig economy with rentable desks, access... 

World-class Africa factory nearing completion

By: Halima Frost     23rd July 2021 The construction of drive components manufacturer SEW-EURODRIVE’s R200-million South Africa head office and factory in Aeroton, Johannesburg, is proceeding to plan and on schedule, says SEW-EURODRIVE MD Raymond Obermeyer. “Despite the slowdown in the local economy, we believe that it is critical... 

 	Large building, construction site with steel fabrication SEW Eurodrive HO
MAKING GROUND The construction of SEW EURODRIVE's new South African head office is progressing well

SARB cautions against stained banknotes after unrest

By: Sane Dhlamini     21st July 2021 Following recent looting and acts of lawlessness that caused unrest in the country, the South African Reserve Bank has cautioned the public not to accept stained banknotes, stating that these notes are considered as proceeds of crime. Last week, protests against former President Jacob Zuma’s... 

South African currency

Kumba breaks ground on lifestyle complex in Postmasburg  

By: Tasneem Bulbulia     20th July 2021 Anglo American group subsidiary Kumba Iron Ore’s Kolomela mine has broken ground on a multipurpose lifestyle complex in the small Northern Cape town of Postmasburg, which the company says will transform the lives of the Tsantsabane community. The 16 ha complex will provide a range of sporting,... 

An artist's drawing of the multipurpose lifestyle complex in the small Northern Cape town of Postmasburg
Artist drawing of the complex

Seven Growthpoint properties damaged during protests, looting

By: Simone Liedtke     20th July 2021 Seven of JSE-listed Growthpoint Properties’ retail properties in KwaZulu-Natal were damaged during last week’s unrest. The damaged property represents 2.3% of the group’s South African gross lettable area (GLA).. 

Heartwood Properties spearheads new hybrid office development

By: Tasneem Bulbulia     16th July 2021 Commercial office and industrial warehousing developer Heartwood Properties is launching a new hybrid office development, called Sunvlei. The new office block will be situated in the Paardevlei precinct of Somerset West, just outside Cape Town, close to the Strand Beach and the Paardevlei Nature... 

An image showing a rendering of the Sunvlei development
Sunvlei exterior

Attacq’s Courtyard Hotel receives 4-star green rating

By: Marleny Arnoldi     15th July 2021 JSE-listed real estate investment trust Attacq has received a Green Building Council South Africa 4-star green rating for its recently launched Courtyard Hotel, in Waterfall City. The certification makes Courtyard Hotel the first hotel, and the twenty-first building, within the Midrand-based... 

Attacq's Courtyard Hotel, in Waterfall City
Attacq's Courtyard Hotel, in Waterfall City

V&A Waterfront appoints new chairperson

By: Tasneem Bulbulia     9th July 2021 Public-private partnership the V&A Waterfront has appointed Dr Shirley Zinn as independent chairperson of its board of directors.  The V&A Waterfront is jointly owned by the Government Employees Pension Fund, which is represented by the Public Investment Corporation, and Growthpoint Properties. 

Castle Gate to get new gym and offices

By: Schalk Burger     8th July 2021 The 6 000 m2 mixed-use precinct Castle Gate Lifestyle Centre, in Pretoria, will get a Planet Fitness gym and 3 500 m2 of premium office space added to it at a cost of R150-million, property developer and investor Atterbury says. Construction of the gym and office building is under way and... 

Kyalami receives energy performance certificate

By: Schalk Burger     8th July 2021 The Kyalami Grand Prix Circuit and International Convention Centre has received its energy performance certificate with a rating of B, says South African National Energy Development Institute (SANEDI) energy efficiency and corporate communications GM Barry Bredenkamp. “The facility is... 

Akani Properties investing more than R600m into new shopping mall developments

By: Simone Liedtke     7th July 2021 Wholly black-owned property developer, manager and investor Akani Properties is investing more than R600-million in new shopping mall developments and refurbishments in anticipation of a post-Covid economic recovery within the next 12 to 18 months. Unfazed by the third wave of Covid-19... 

Equites to buy in on Attacq’s Waterfall Logistics Hub

By: Marleny Arnoldi     7th July 2021 Property developers Attacq and Equites have reached a conditional agreement whereby Attacq will dispose of an undivided 50% share of the leasehold rights and rental enterprises within the Waterfall Logistics Hub. The hub comprises two logistics properties – Amrod and Massbuild distribution... 

Attacq appoints Michael Clampett as asset management executive

By: Schalk Burger     5th July 2021 JSE-listed real estate investment trust Attacq has appointed Michael Clampett asset and property management executive. The appointment forms part of Attacq’s strong belief in grooming talent from within the business by providing employees with growth opportunities. 

CDC Group backs residential housing development in Johannesburg

By: Marleny Arnoldi     5th July 2021 UK-based development finance institution CDC Group has announced a R500-million commitment to affordable housing platform Divercity Urban Property Fund for housing development. This investment will fund the construction and management of more than 2 500 new affordable and environmentally... 

Despite Q1 dip, Afrimat Construction Index four-quarter average shows consolidation of recovery

By: Irma Venter     2nd July 2021 JSE-listed industrial minerals, commodities and construction material openpit mining company Afrimat has released the findings of the Afrimat Construction Index (ACI) for the first quarter of the year.  The ACI is a composite index of the level of activity in the building and construction... 

Hardware, building material markets more buoyant but difficult conditions linger in building sector

By: Irma Venter     2nd July 2021 After slipping to 27 in the first quarter of the year, the FNB/BER Building Confidence Index increased to 39 in the second quarter. Even though this is the highest level the index has reached since the first quarter of 2018, at the current level, more than 60% of respondents say they are still... 

Accelerate expects another difficult year amid ongoing Covid-19 impact

By: Simone Liedtke     30th June 2021 Although JSE-listed Accelerate Property Fund’s performance for the financial year ended March 31, reflected early signs of recovery from the impact of Covid-19, management contextualised the pandemic’s severe impact and the group’s strategy to focus on nodal strength as a beachhead for growth in... 

Emira attracts R805m in sustainability-linked debt financing

By: Simone Liedtke     30th June 2021 JSE-listed Emira Property Fund has raised R805-million in sustainability-linked debt, with reduced margins for achieving pre-set environmental sustainability targets. In only the third issue of its kind in South Africa, Emira listed a new unsecured three-year R380-million sustainability-linked... 

PV Solar farm at Wonderpark Shopping Centre
PV Solar farm at Wonderpark Shopping Centre

Pipes, tubes demand strong in housing sector

By: Darren Parker     25th June 2021 Demand for piping and tubing from the housing sector has remained buoyant throughout the Covid-19 pandemic, says pipe and tube manufacturer Stewarts & Lloyds sales manager Clayton Greer. He explains that plumbing service providers “had plenty of ongoing work” repairing and maintaining existing... 

LOOKING UP
Stewarts & Lloyds Projects supplied all the piping and fittings for the fire protection system, hanging material and fire water system for Steyn City
LOOKING UP Stewarts & Lloyds Projects supplied all the piping and fittings for the fire protection system, hanging material and fire water system for Steyn City

Defects liability period under way for KZN crèche

By: Theresa Bhowan-Rajah     25th June 2021 Multidisciplinary engineering, project and construction firm, Zimile Consulting Engineers, is supervising and monitoring the Ezinembeni Crèche, in Maqongqo, Pietermaritzburg, in KwaZulu-Natal, as part of the defects liability period of the contract This follows the completion of the initial... 

Emira acquires eleventh US property

By: Simone Liedtke     22nd June 2021 JSE-listed Emira Property Fund has acquired its eleventh grocery-anchored dominant open-air shopping centre in the US, growing its equity investments in the country to more than R1.5-billion, or $105-million. The highly attractive Newport Pavilion power centre acquisition strengthens the quality... 

The Newport Pavilion, in Cincinnati.
The Newport Pavilion, in Cincinnati.

EPP experiencing robust retail rebound on the back of Polish vaccination programme

By: Simone Liedtke     22nd June 2021 Poland is outpacing its original vaccination roll-out targets, resulting in a robust rebound in retail activity and promising economic prospects, said JSE-listed EPP on June 22. With one of the lowest and consistently declining Covid-19 infection rates in the European Union (EU), a growing number... 

EPP experiencing robust retail rebound on the back of Polish vaccination programme

Afrimat Construction Index sees consolidation of recovery trend

By: Irma Venter     22nd June 2021 Afrimat, the JSE-listed industrial minerals, commodities and construction material openpit mining company, has released the findings of the Afrimat Construction Index (ACI) for the first quarter of the year.  The ACI is a composite index of the level of activity within the building and... 

Afrimat Construction Index sees consolidation of recovery trend

Steel shortage delays building projects

By: Khutso Maphatsoe     18th June 2021 The shortage of steel and an increase in the steel price have led to delays in projects for the light-steel-frame building and roofing sector, says construction materials supplier Izinga Roofing director and owner Jerred Micholson.   

EVERY LAST DETAIL 
A truss has certain details, such as the edge distance, design and specifications, which engineers use to guide them when assembling trusses
EVERY LAST DETAIL A truss has certain details, such as the edge distance, design and specifications, which engineers use to guide them when assembling trusses

Arrowhead starts merger negotiation process with Fairvest

By: Marleny Arnoldi     15th June 2021 JSE-listed Arrowhead Properties has advised that it has started engaging in merger discussions with fellow-listed Fairvest Property. This follows after an independent board assessing the potential merits of such a transaction with Fairvest, having determined that it is in the best interest of... 

Buoyant hardware, building material markets push up confidence index

By: Irma Venter     14th June 2021 After slipping to 27 in the first quarter of the year, the FNB/BER Building Confidence Index has increased to 39 in the second quarter of the year. Even though this is the highest level of the index since the first quarter of 2018, at the current level, more than 60% of respondents says they are... 

Siphamandla Mkhwanazi
Siphamandla Mkhwanazi

Contracts awarded on strong foundation work

By: Halima Frost     11th June 2021 Concrete foundation specialist Gauteng Piling’s most recent projects have showcased the company’s diverse capabilities in the concrete piling industry. Gauteng Piling contracts manager Keoatlaretse Tema tells Engineering News that two of the projects include the installation of concrete piling... 

CONCRETE SUPPORT
A total of 32 concrete piles were needed on the Mbombela Fresh Produce Market project
CONCRETE SUPPORT A total of 32 concrete piles were needed on the Mbombela Fresh Produce Market project

Vukile sees a future of mixed online, offlline sales; to develop ESG metrics this year

By: Schalk Burger     10th June 2021 Real estate investment trust (Reit) Vukile Property Fund CEO Laurence Rapp on June 9 said the company had sold its remaining industrial assets, had secured an agreement to sell its remaining offices and was now a highly focused retail landlord. For the financial year ended March 31, the company... 

Hyprop notes early signs of stronger consumer spending in many of its malls

By: Simone Liedtke     9th June 2021 Retail-focused real estate investment trust Hyprop has made positive progress on its key strategic priorities in the first four months of this year, including having taken steps to strengthen its balance sheet. Hyprop, which has properties in South Africa, sub-Saharan Africa and Southern-Eastern... 

Hyprop notes early signs of stronger consumer spending in many of its malls

Eastern Cape govt fails to spend its R338m budget on housing

By: News24Wire      8th June 2021 The Eastern Cape human settlements department failed to spend R338-million allocated for housing developments in the past financial year. The money was then taken and re-allocated to other provinces. 

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