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Property News

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... 

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. 

Richmond Park to host Takealot’s new distribution centre in Cape Town

By: Tasneem Bulbulia     7th June 2021 Property investor and developer Atterbury has been chosen to develop a new distribution facility and pickup point for online retailer Takealot, in Richmond Park, Milnerton, Cape Town. The new Takealot facility at Richmond Park will initially be 6 700 m² and include two expansion opportunities... 

Heartwood Properties records solid growth despite challenges

By: Tasneem Bulbulia     4th June 2021 Despite having faced major challenges in 2020, 4 Africa Exchange-listed Heartwood Properties recorded net asset growth per share of 25% for the financial year ended February 28. Since first listing on the stock exchange in March 2018, it has grown its net assets by a total of 93%. 

John Whall
John Whall

Heritage dispute engulfs site chosen for Amazon’s new African HQ

By: Reuters     4th June 2021 For the Khoi and San - South Africa's first inhabitants - a verdant patch of land in Cape Town embodies victory and tragedy. The two communities drove back cattle-raiding Portuguese soldiers there in 1510. But, a century and a half later, it was where Dutch settlers launched a campaign of land... 

R419m student housing development for University of Fort Hare's Alice campus now complete

By: Schalk Burger     31st May 2021 With the completion of the 12-block, 1 440-bed Alice Student Village Phase 2 built over two years, the University of Fort Hare (UFH) has 6 049 available beds in Alice, in the Eastern Cape, which are enough to accommodate 70% of students on its Alice campus. The R419-million greenfield student... 

BLSA says property law changes threaten digital start-up investment

By: Marleny Arnoldi     31st May 2021 In a weekly Business Leadership South Africa newsletter, CEO Busi Mavuso has unpacked her apprehensions around the Expropriation Bill, as debates continue around amendments to the property rights legislation and the Constitution. She says that was is most disconcerting is the fact the Bill... 

L2D reports on new customer count software, footfall recovery

By: Marleny Arnoldi     28th May 2021 JSE-listed Liberty Two Degrees (L2D) has noted signs of retail recovery, after the country moved back to Level 1 lockdown in March this year. In a pre-close investor update issued on May 28, the real estate investment trust advised that higher footfall, maintained tenant occupancies, rental... 

RDC Properties shows interest in acquiring Tower Property

By: Marleny Arnoldi     27th May 2021 JSE-listed Tower Property has advised that it has received a nonbinding expression of interest from Botswana-listed property and investment group RDC Properties to acquire all or most of Tower’s issued share capital. The Tower board of directors has created an independent board to consider the... 

Pick n Pay, Fortress co-invest in super distribution centre development

By: Simone Liedtke     27th May 2021 Real estate investment company Fortress has inked its biggest logistics development agreement to date with retailer Pick n Pay at the premium-grade Eastport Logistics Park, near OR Tambo International Airport, in Gauteng. The new development will cover 36 ha of state-of-the-art infrastructure and... 

Pick n Pay, Fortress co-invest in super distribution centre development

Arrowhead withholds interim dividend, reports stabilised collections 

By: Marleny Arnoldi     26th May 2021 JSE-listed Arrowhead Properties has posted a 24% year-on-year decrease in distributable earnings per B share to 23.19c apiece in the six months ended March 31, and decided against declaring an interim dividend to preserve cash. This compares to distributable earnings per B share of 30.65c... 

Arrowhead CEO Mark Kaplan
Arrowhead's executive team unpacks the company's interim performance

Balwin furthers transformation goals through BEE transaction

By: Simone Liedtke     26th May 2021 Property company Balwin Properties intends to further advance its empowerment objectives by increasing black participation within the Balwin group. To achieve this, Balwin is progressing its black economic empowerment (BEE) transaction and, in particular, “seeks to set itself apart from other... 

Residential building activity expected to grow in 2021 – FNB

By: Tasneem Bulbulia     24th May 2021 Statistics South Africa’s residential building numbers for the first quarter showed some positive growth in units completed, but growth in plans passed was still negative, notes financial services provider FNB. A big growth rate in building activity is still anticipated this year owing to a very... 

Collaborative vision required to overcome current lack of cohesion – WCPDF

By: Donna Slater     20th May 2021 South Africa’s government and private sector need a clear agreement on their collective to bring an end to the trend of working in silos and “talking past each other”, nonprofit property development organisation Western Cape Property Development Forum (WCPDF) chairperson Deon van Zyl has said.... 

Investec Property Fund says repurposing office space now vital

By: Reuters     20th May 2021 Investec Property Fund's (IPF) strategy of repurposing office assets and "amenitising" office space has become even more relevant after the Covid-19 pandemic hit demand, the South African fund's joint-CEO said on Wednesday. Structural shifts were already emerging prior to the pandemic with the... 

Zikalala launches a R170m Defy warehouse in Ladysmith

By: Yvonne Silaule     19th May 2021 KwaZulu-Natal Premier Sihle Zikalala joined household appliance manufacturer Defy in launching its R170-million warehouse, in Ladysmith, on May 19. The facility, based in Danskraal near Ladysmith, has capacity to load and unload more than 200 trucks a day and a storage capacity of 100 000 m3 of... 

NHFC to help subsidise 7 000 homes for first-time buyers in 2021/22

By: Yvonne Silaule     18th May 2021 Development finance institution the National Housing Finance Corporation (NHFC) has allocated R3.2-billion towards the Finance Linked Individual Subsidy Programme (FLISP) for the 2021/22 financial year. The aim is to help subsidise more than 7 000 homes across the country, Human Settlements,... 

Calgro stabilises cash flow, doubles units under development

By: Schalk Burger     17th May 2021 JSE-listed residential property investment company Calgro M3 has restructured the process of handing over units to ensure a consistent number each month, which has stabilised cash flows and reduced the company's capital exposure. The company has also restructured its debt with only R70-million in... 

Redefine posts lower distributable income as Covid-19 impact still felt

By: Marleny Arnoldi     17th May 2021 JSE-listed real estate investment trust (Reit) Redefine Properties has reported lower distributable income per share of 26.18c apiece for the six months ended February 28. This compares with distributable income per share of 33.46c apiece posted for the six months ended February 29, 2020.  

Balwin remains ‘cautiously optimistic’ on the back of positive financial results

By: Simone Liedtke     17th May 2021 In a financial year that was characterised by unprecedented socioeconomic and market conditions with unusual working and living environments, various measures initiated by JSE-listed Balwin Properties saw the company experience continued strong sales demand for the “Balwin product” at the end of... 

An artistic rendering of Balwin's apartments at its Waterfall development.
An artistic rendering of Balwin's apartments at its Waterfall development.

Western Cape asks public for input on Inclusionary Housing Policy Framework

By: Marleny Arnoldi     14th May 2021 The Western Cape government on May 14 published an Inclusionary Housing Policy Framework for public comment. The framework will help municipalities in the Western Cape facilitate the inclusion of more affordable housing units in developments in their municipal areas.  

Construction starts on Boardwalk Mall in Gqeberha

By: Simone Liedtke     14th May 2021 Property investor Flanagan & Gerard (F&G) and Sun International subsidiary Emfuleni Resorts have officially started construction of the Boardwalk Mall, in Gqeberha (previously known as Port Elizabeth). The first phase of construction is set to be completed and launched in December this year,... 

The sod turning at the Boardwalk Mall's official development launch, in Gqeberha.
The sod turning at the Boardwalk Mall's official development launch, in Gqeberha.

Facilities management ‘a matter of business survival’, says consultancy 

By: Simone Liedtke     13th May 2021 Through effective service management and through the appointment of professional companies that understand business, the facilities management (FM) sector unlocks an opportunity for companies, government and South Africa as a whole to create employment, while simultaneously meeting political... 

Facilities management ‘a matter of business survival’, says consultancy
FM Solutions business development director Lydia Hendricks tells Engineering News & Mining Weekly about the benefits of facilities management and how government can benefit by entering into public-private partnerships with private sector firms.

Zikalala launches a R1.5bn logistics facility

By: Yvonne Silaule     11th May 2021 KwaZulu-Natal Premier Sihle Zikalala on May 11 launched the R1.5-billion Pepkor Logistics facility, at Keystone Business Park, in Hammarsdale. Pepkor is a JSE-listed retail chain with more than 5 500 stores. 

IFC, Eris partner to support affordable student housing in South Africa

By: Creamer Media Reporter      11th May 2021 The International Finance Corporation (IFC) has made a $150-million equity investment in property developer and real estate fund manager Eris Property Group's South African Student Accommodation Impact Investments platform. The investment will help Eris develop and operate accommodation for up to... 

L2D continues deriving value from positive retail growth

By: Simone Liedtke     7th May 2021 Precinct-focused and retail-centered real estate investment trust Liberty Two Degrees (L2D) continues to successfully weather the impacts of the Covid-19 pandemic, building on the basis of strong property fundamentals, as it continues to derive value in the current economic conditions from its... 

PIC acquires Deloitte building in Midrand to add to GEPF portfolio

By: Donna Slater     6th May 2021 The Public Investment Corporation (PIC) has concluded a purchase agreement to acquire 100% of the leasehold rights, which include the office building and letting enterprise, housing Deloitte as the anchor tenant, in the prime location of Waterfall City, in Midrand, Gauteng. The asset was... 

Equites records solid full-year performance, despite challenging environment

By: Tasneem Bulbulia     4th May 2021 JSE-listed Equites Property Fund recorded a 2.4% increase in its yearly distribution a share. The increase in distributions was supported by a strong growth of 6.7% in South African like-for-like net rental income owing to a robust in force contractual lease escalation rate, coupled with no... 

Majority of EPP’s GLA reopens for trade as Poland eases restrictions

By: Tasneem Bulbulia     3rd May 2021 The Polish government has lifted trading restrictions in shopping centres effective from May 4 and, therefore, 89% of JSE-listed EPP’s retail gross leasable area (GLA) will be allowed to trade. 

Ekhaya Mall opens in Embalenhle

By: Schalk Burger     30th April 2021 The 10 700 m2 Ekhaya Mall was opened to the public on April 29 after sixteen months of construction and, based on shopper and retailer demand, the mall’s third phase of 1 800 m2 is already on the cards. The Ekhaya Mall comprises 45 shops, including anchor stores Cashbuild, Shoprite and Roots... 

Fairvest seeks to acquire a stake in Arrowhead

By: Tasneem Bulbulia     29th April 2021 Property company Fairvest Property Holdings has announced its interest in acquiring a stake in Arrowhead Properties through privately placed share swap transactions. This decision follows a number of separate approaches from major Arrowhead shareholders requesting Fairvest to consider becoming a... 

Nonresidential buildings will have to display energy performance certificate by next December

By: Schalk Burger     28th April 2021 By December 2022, some nonresidential buildings will be required by law to display an Energy Performance Certificate (EPC), which is done by measuring the building’s energy use intensity and giving it a colour-coded score from A to G, sustainable structures organisation the Green Building Council... 

Penguin Random House relocating to Growthpoint’s Midrand Business Park

By: Tasneem Bulbulia     23rd April 2021 JSE-listed Growthpoint Properties has concluded a deal with book publisher Penguin Random House to consolidate and relocate the publisher’s offices and distribution centre to 3 657 m2 of upgraded business space at Growthpoint Business Park in Midrand, Gauteng. Penguin Random House is a... 

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