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Construction News

Emira delivers positive FY18 performance with 2.53% distribution increase

By: Simone Liedtke     15th August 2018 Real estate investment trust (Reit) Emira Property Fund’s distributions for the financial year ended June 30, increased by 2.53% year-on-year, despite persistently tough trading conditions. This increase, CFO Greg Booyens said on Wednesday, reaffirms the company’s turnaround and return to... 

Freedom Property subsidiary sells noncore residential units

By: Anine Kilian     15th August 2018 Zambesa Investments, a wholly owned subsidiary of JSE-listed Freedom Property Fund, has agreed to sell eight residential units and 33 service stands, collectively called Tubatse Homes, in Burgersfort. The purchase consideration is R12.6-million and comprises a deposit of R2.52-million, which is... 

M&R expects to report higher FY18 earnings

By: Anine Kilian     15th August 2018 JSE-listed Murray & Roberts (M&R) expects its results for the financial year ended June 30, to show an improvement of at least 20% year-on-year in diluted and basic earnings a share and headline earnings a share. The group said on Wednesday that it also expects to report cash, net of debt, of at... 

South African black property owners want certainty over land reform policy

By: African News Agency      15th August 2018 South Africa's black practitioners in the property development sector do not have any qualms about an amendment of the Constitution to expropriate land without compensation, but they want certainty over the policy and decisive action if it is to be implemented.  Nkuli Bogopa, president of the... 

City of Joburg makes 71 inner city properties available for private sector development

By: Marleny Arnoldi     14th August 2018 Johannesburg executive mayor Herman Mashaba has declared Johannesburg’s inner city open for business by putting 71 properties out to tender for private sector development into mixed-income housing, student accommodation and small business rental space. This forms part of City of Joburg’s inner... 

Nigeria's State-owned oil company considers refinery partnerships

By: Reuters     14th August 2018 Nigerian National Petroleum Corporation (NNPC) could allow private investors to install two refineries on two of its sites, the State-owned oil company said on Tuesday. NNPC said in a statement that it was considering plans to establish a 100 000 bbl/d brownfield refinery at its Port-Harcourt and... 

Ethiopia plans to build new airport in Oromia region – Fana

By: Reuters     14th August 2018 Ethiopian Airlines plans to build a new airport with annual capacity of 80 million passengers in Bishoftu, about 48km southeast of the capital Addis Ababa, State-affiliated media said on Tuesday. Fana Broadcasting Corporation quoted Ethiopian Airlines CEO Tewolde Gebremariam saying that... 

WG Wearne CFO resigns

By: Simone Liedtke     14th August 2018 Building materials company WG Wearne’s CFO Marius Bierman has resigned as a director with effect from August 11. His resignation follows a mutual agreement between Bierman and the board of WG Wearne. 

Fund manager Vantage provides R2bn for six South African renewable energy projects

By: African News Agency      14th August 2018 Fund manager Vantage said late on Monday it had, through its renewable energy fund Vantage GreenX Note II, provided R2.05-billion of funding to six solar and wind energy projects in South Africa with a combined capacity of 433 MW. The projects, which are part of South Africa's Renewable Energy... 

Kudu gas project might not be viable for Namibia – Energy Minister

By: Reuters     14th August 2018 Namibia's long-delayed Kudu gas-to-power project, seen as key to boosting electricity security in the southwest African country, might not be viable, Mines and Energy Minister Tom Alweendo said on Monday. Namibia's offshore Kudu Gas Fields have proven and probable recoverable reserves estimated... 

Esor’s share price plummets as major subsidiary files for business rescue

By: Simone Liedtke     13th August 2018 JSE-listed Esor’s share price plummeted on Monday by 62.5% as the company announced the start of business rescue proceedings for its Esor Construction subsidiary, which holds the group’s infrastructure, building and housing, pipelines, sanitation and pipe services businesses. The decision follows... 

Kenya charges top officials with fraud over new $3bn railway

By: Reuters     13th August 2018 A Kenyan court on Monday charged the heads of the agency that manages public land and of the state railway with fraud over land allocation for a new $3-billion train line linking the capital with East Africa's biggest port. The line between Nairobi and Mombasa, funded by China, is one of the... 

Tribunal to pursue alleged price-fixing, collusion in R240m Eskom tender

By: Marleny Arnoldi     13th August 2018 The Competition Tribunal has refused an application to dismiss a complaint against companies accused of alleged price-fixing and tender collusion in a R240-million tender issued by State-owned power utility Eskom in March 2015. The tender was for the supply, installation and dismantling of... 

Futuregrowth, Citiq Treasury, Citiq Property Services merger gets green light

By: Marleny Arnoldi     13th August 2018 The Competition Tribunal has approved a merger between Futuregrowth Asset Management, Citiq Treasury and Citiq Property Services. Futuregrowth is the acting agent for Old Mutual Assurance company, wholly-owned by Old Mutual Investment Group Holdings.  

Government changes shake up the sub-Saharan African construction sector

By: Anine Kilian     10th August 2018 International consultancy and construction company Mace has released its latest tender cost update for sub-Saharan Africa, showing mixed performances for the region’s two most prominent economies.    

Western Cape transport department says begins R29m roadworks

By: African News Agency      10th August 2018 The Western Cape province's department of transport and public works (DTPW) said on Friday it had started periodic maintenance on the R341 road between De Rust and Uniondale, and that the R29 million project was expected to be complete by March. The road, last refurbished in 1995, provides access... 

Cape Town changing HID street lights with smart LED technology

By: African News Agency      10th August 2018 The programme to replace high intensity discharge (HID) lamps with light-emitting diode (LED) technology is progressing well, the City of Cape Town said on Thursday. In a statement, the City said it has budgeted approximately R20-million in this new financial year to replace more HID lamps with... 

Ongoing waterproofing for Innovation Hub campus

By: Jessica Oosthuizen     10th August 2018 Speciality chemicals manufacturer a.b.e. Construction Chemicals continues to provide large volumes of polyurea coating for the waterproofing of an expansive roof of one of the Innovation Hub campus’ new buildings in Gaborone, Botswana. The project is expected to be completed by the end of the... 

Ongoing waterproofing for Innovation Hub campus
COMPLETE COATING The waterproofing of an expansive roof of one of the Botswana Innovation Hub campus’ new buildings is about 90% complete

Karoo’s MeerKAT radio telescope sets scene for pioneering scientific discovery

By: Dylan Slater     10th August 2018 The Karoo-based MeerKAT radio telescope, located about 90 km from Carnarvon, in the Northern Cape, was inaugurated on July 13, giving the public a glimpse into what was unveiled as the best of its kind and a true benchmark in terms of pioneering scientific cosmic discovery, says South African... 

Karoo’s MeerKAT radio telescope sets scene  for pioneering scientific discovery

Property developer celebrates completion of R250m Sandton apartment skyscraper

By: Nadine James     10th August 2018 Property development company Masingita Group subsidiary Masingita Properties hosted a roof-wetting last month to celebrate the completion of its R250-million luxury apartment skyscraper, Masingita Towers, which is situated in West Road South near the Sandton central business district. The project... 

Property developer celebrates completion of R250m Sandton apartment skyscraper
Photo by Nadine James
MASINGITA TOWERS The development was completed on time and on budget last month

Pillay to remain Saice CEO

By: Creamer Media Reporter      8th August 2018 The South African Institution of Civil Engineering (Saice) on Wednesday apologised "unreservedly" for a recent opinion piece, titled 'Out on a Rib' written by Saice CEO Manglin Pillay. Pillay came under fire earlier this week for the article, in which he said women choose to have the flexibility... 

JRA reopens expanded asphalt plant to better meet city’s infrastructure needs

By: Simone Liedtke     8th August 2018 As part of its commitment to bringing real change to communities, the Johannesburg Road Agency (JRA) on Wednesday relaunched its asphalt plant, in Ophirton, Johannesburg. The plant, which was first built in 1965, had to be refurbished to ensure it meets air quality requirements. 

JRA reopens expanded asphalt plant to better meet city’s infrastructure needs

South Africa falls to 37th on International Property Rights Index

By: Marleny Arnoldi     8th August 2018 South Africa is now ranked thirty-seventh in the global property rights rankings of the International Property Rights Index, with its score having declined from seven in 2017, when the country ranked twenty-seventh, to 6.35 this year. This is the largest decline by any country measured, mostly... 

M&R withdraws Aveng merger proposal

By: Anine Kilian     8th August 2018 JSE-listed Murray & Roberts (M&R) on Wednesday announced that it had withdrawn its proposal for a potential merger with Aveng. The company announced last week that it was reviewing a decision by the Takeover Special Committee (TSC) to overturn a June decision by the Takeover Regulation Panel that... 

M&R withdraws Aveng merger proposal

Development continues at Waterfall City 

8th August 2018 From Creamer Media in Johannesburg, this is the Real Economy Report. Sashnee Moodley: Construction and development of JSE-listed Attacq’s Waterfall City is ongoing, with new infrastructure including roads, residential properties and warehouses continuously in the pipeline. Anine Kilian tells us... 

Development continues at Waterfall City
Development continues at Waterfall City

AB InBev to build new brewery in fast-growing Mozambique

By: Reuters     8th August 2018 Anheuser-Busch InBev, the world's biggest brewer, will start building a more than two-million hectolitre a year brewery in Mozambique in the second half of next year, the company's Africa head said on Tuesday. The Mozambique investment will look to fend off competition from rival Heineken, which... 

Study says gender a challenge for female entrepreneurs in construction 

By: Irma Venter     7th August 2018 Women in the construction and related industries not only face discrimination while working for existing firms, but also when starting their own businesses, says Mercantile Bank. A recent study conducted on behalf of the institution found that 67% of female business owners surveyed in the... 

Study says gender a challenge for female entrepreneurs in construction

Pillay has engineering industry members hot under the collar over opinion piece

By: Marleny Arnoldi     7th August 2018 Professional organisation Women in Engineering, engineering company Aurecon, and the University of Cape Town (UCT), as well as the South African Institution of Civil Engineering (Saice), have expressed their dismay at Saice CEO Manglin Pillay following an opinion piece he wrote on women in the... 

81 professionals appointed to help shape struggling municipalities’ infrastructure delivery 

By: Marleny Arnoldi     6th August 2018 Cooperative Governance and Traditional Affairs (Cogta) Minister Zweli Mkhize on Monday announced the appointment, by his department, of 81 engineers and town planners to assist with infrastructure delivery in 55 struggling municipalities across South Africa. Through Cogta’s implementing agent,... 

81 professionals appointed to help shape struggling municipalities’ infrastructure delivery
Photo by Creamer Media
Cooperative Governance and Traditional Affairs Minister Zweli Mkhize

Equites acquires Simba logistics facility in Gauteng

By: Simone Liedtke     6th August 2018 Real estate investment trust Equites Property Fund has concluded an agreement to acquire a 40 428 m² distribution centre, let to Simba, from Investec Property Fund for about R461.9-million. The transaction is estimated to be effective from November 1, 2018. 

Stenprop buys another industrial estate

By: Creamer Media Reporter      6th August 2018 JSE-listed and UK-based multi-let industrial property investor Stenprop has acquired the Lombard Centre industrial estate, in Aberdeen, from Mayfair Capital for £3.25-million. The Lombard Centre is a modern estate with ten units, one of which is vacant. 

Tanzania wants to build pipeline to pump gas to Uganda

By: Reuters     6th August 2018 Tanzania wants to build a pipeline to pump natural gas to neighbouring Uganda, another step in the two countries' bid to expand energy cooperation. State-run Tanzania Petroleum Development Corporation (TPDC) said on Monday that the pipeline would start from its capital Dar es Salaam, then pass... 

Group Five granted immunity from competition authorities for 15 construction projects 

By: Simone Liedtke     6th August 2018 The Competition Tribunal has approved a settlement agreement in terms of which construction company Group Five will receive immunity for cooperating with the Competition Commission’s investigation into the construction industry and disclosing its participation in 15 construction projects as a... 

Parkwood housing project in Cape Town gets under way

By: News24Wire      6th August 2018 A team of engineers, planners and designers is to visit seven sites next week where social and affordable housing will be built for backyarders in Parkwood and surrounding areas, GroundUp reports. This was announced by Western Cape MEC for Human Settlements Bonginkosi Madikizela at a joint... 

Octodec uplifts Tshwane CBD

By: Marleny Arnoldi     3rd August 2018 JSE listed real estate investment trust (Reit) Octodec has uplifted the Tshwane central business district (CBD) with various residential, commercial, office and retail developments, with the aim of providing safe, clean and productive environments for the citizens of the city. The latest... 

Octodec uplifts Tshwane CBD
Photo by Dylan Slater
Sharon's Place in Pretoria CBD

JDA starts demolition works for new interchange in Wynberg

By: Marleny Arnoldi     3rd August 2018 As part of the City of Joburg’s Rea Vaya bus rapid transit (BRT) project along the Louis Botha development corridor, the Johannesburg Development Agency (JDA) is constructing the Watt interchange, in Wynberg. The works for the interchange include the demolition of the existing bridge and the... 

JDA starts demolition works for new interchange in Wynberg

Value for money in sectional title properties

3rd August 2018 Despite challenging economic conditions, there are still opportunities for buyers and investors to purchase property in a desirable address at affordable prices, says leading estate agency Pam Golding. The company says savvy buyers with access to finance are buying up sectional title properties... 

Value for money in sectional title properties
ON THE MARKET This renovated two bedroom, two bathroom ground unit apartment in Morningside is on the market for R1.575 million through Pam Golding Properties
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