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Property News

Canada contributes R25m to help end spatial apartheid  

By: Anine Kilian     26th April 2017 Canada’s Deputy Minister of Global Affairs, Ian Shugart, on Wednesday announced a contribution of R25-million to the Equal Spaces: Social Housing to End Spatial Apartheid project, in South Africa. The project will be managed by Canadian nongovernmental organisation Rooftops Canada and will... 

Cairo 'cargotecture' company transforms shipping containers into homes

By: Reuters     25th April 2017 An Egyptian design duo has begun re-purposing old steel shipping containers, transforming them into living spaces, shops and restaurants in an effort to introduce residents of overcrowded Cairo to cheaper and more versatile properties. Qubix, a year-old company founded by Youssef Farag and Karim... 

Tsogo Sun invests R220m in new Maputo hotel

By: Creamer Media Reporter      25th April 2017 Construction has started on Tsogo Sun’s new R220-million, 125-room StayEasy Maputo hotel, in Mozambique. The hotel, which will be completed by April 2018, is being built as part of a mixed-use development and will be located above the new Baia Mall that is under construction. 

Tsogo Sun invests R220m in new Maputo hotel

DA wants National Treasury to blacklist companies involved with Nkandla upgrades

By: African News Agency      25th April 2017 The leader of the Democratic Alliance (DA) Mmusi Maimane on Tuesday said not a single one of the 14 companies involved in the scandalous upgrades at Nkandla has been blacklisted, or “placed on the restricted supplier database”. “The Minister of Public Works Nathi Nhleko has revealed that 8 of the... 

DA wants National Treasury to blacklist companies involved with Nkandla upgrades
Photo by Duane Daws
DA leader Mmusi Maimane

Acquisitions add value to Rebosis’s interim results

By: Megan van Wyngaardt     24th April 2017 Despite the tough domestic economic environment, JSE-listed property company Rebosis declared a dividend of 60.80c apiece for the six months to February 28. This amounted to a 7.1% year-on-year growth, within the company’s 7% to 9% guidance for the full year. 

Plans unveiled for 300-m-tall Nairobi skyscraper

By: John Muchira     21st April 2017 Real estate company Hass Group has unveiled plans to build what will be Africa’s tallest skyscraper in Nairobi, Kenya. The $191-million Hass Tower will be built by China State Construction Engineering Corporation (CSCECC). It will be 300 m tall and will have 67 storeys. 

Sapoa says comments were ignored in new property Bill

By: Megan van Wyngaardt     20th April 2017 The South African Property Owners Association (Sapoa) says that while it supports the aims of the Property Practitioners Draft Bill, published for comment on March 31, the current version of the draft Bill does not take any of Sapoa’s previous recommendations into account. The Bill, which will... 

Asset manager launches latest logistics and warehousing facility 

     20th April 2017 Asset management Fortress Income Fund has launched its Westlake View logistics park, further increasing the companies warehousing and logistics development pipeline, which currently has a gross leasable area of about 1-million m2 that spans Gauteng, the Western Cape and KwaZulu-Natal.  

Asset manager launches latest logistics and warehousing facility
Asset manager launches latest logistics and warehousing facility

Abland starts earthworks at Atlantic Hills business park

By: Megan van Wyngaardt     19th April 2017 Earthworks and services installation have started for the first phase of a new 450 000 m2 industrial precinct in Durbanville, the Atlantic Hills business park, with the first tenant expected to take occupation in January 2018, construction company Abland says. The first phase will involve the... 

Abland starts earthworks at Atlantic Hills business park

Liberty Two Degrees refurbishments contribute to lower vacancies, higher turnover

By: Megan van Wyngaardt     13th April 2017 JSE-listed property fund Liberty Two Degrees (L2D) has signed a binding offer to lease the Nelson Mandela Square offices, comprising 6 350 m2, to an international tenant for five years. The rental obligation date of the lease agreement is from October 1 and will reduce the complex’s office space... 

South Africa’s property investment sector returns dropped to 11.1% in 2016

By: Creamer Media Reporter      13th April 2017 Rteurns in the South African property investment sector hit the lowest level since 2009 after falling from 13% in 2015 to 11.1% in 2016, a 190 basis point decline, the latest IPD South Africa Annual Property Index shows. NYSE-listed MSCI, which compiled the report, noted this week that “it was... 

Atterbury secures new R1bn-plus Deloitte office development tender

By: Natasha Odendaal     11th April 2017 Property investment and development business Atterbury has been awarded the tender to develop a new office for Deloitte in Waterfall City, in Midrand, Gauteng, as the audit firm consolidates its Johannesburg and Pretoria offices. The total estimated R1-billion-plus development cost is expected to... 

Atterbury secures new R1bn-plus Deloitte office development tender

Africa’s first Radisson RED hotel to open in V&A Waterfront Silo District

By: Creamer Media Reporter      10th April 2017 Africa’s first Radisson RED hotel is set to open in the third quarter of 2017 at the V&A Waterfront’s newly revamped Silo District, in Cape Town. The hotel chain, which successfully launched RED hotels in Brussels, Belgium, and Minneapolis, in the US, and with RED hotels in Campinas, Brazil, and... 

Engineers set benchmark in sustainable building

     7th April 2017 Multidisciplinary engineering consultancy WSP | Parsons Brinckerhoff has achieved the first Green Star rating in Namibia for FNB Namibia Holdings’ Parkside building.  

Engineers set benchmark  in sustainable building
Photo by Duane Daws
GREEN STAR BUILDING The building was awarded its 4-Star Green Star Office South Africa-Namibia ‘Design’ rating from the Green Building Council of South Africa

Pretoria property development to incorporate lagoon technology

By: David Oliveira     7th April 2017 Multinational water innovation company Crystal Lagoons has partnered with JSE-listed Balwin Properties to construct and operate South Africa’s first local Crystal Lagoon, a proprietary technology used to construct and maintain lagoons at low costs.   Balwin Properties’ new R4.2-billion The Blyde... 

Echo Polska raises R2.2bn in bookbuild

By: Megan van Wyngaardt     6th April 2017 JSE-listed Polish property group Echo Polska Properties (EPP) on Wednesday raised about R2.2-billion in an accelerated bookbuild through the placing of 118-million new shares at a price of R18.50 apiece. The capital will be used for previously announced acquisitions and for further acquisition... 

Economics now key driver of commercial rooftop solar adoption as supply stabilises - juwi

By: Terence Creamer     3rd April 2017 Renewable energy engineering, procurement and construction services group juwi Renewable Energies expects the commercial solar market in South Africa to undergo a significant shift in the coming months as independent power producers (IPPs) begin playing a more prominent role. CEO Greg Austin says... 

Economics now key driver of commercial rooftop solar adoption as supply stabilises - juwi
The rooftop solar photovoltaic facility at Growthpoint’s Brooklyn Mall

Cape Town's drastic plan for affordable housing

By: News24Wire      29th March 2017 The City of Cape Town wants the whole city to be declared a restructuring zone, which will allow for any suitable land to be used for social housing. It announced on Tuesday that about R101-billion was needed for another 650 000 housing opportunities over the next 20 years. 

Cape Town park earmarked for housing, work development 

By: Megan van Wyngaardt     24th March 2017 Plans are under way to develop 120 ha of the 240 ha Two Rivers Urban Park (TRUP), in Cape Town, into a mixed-use development to provide previously disadvantaged and lower-income families access to the central business district. The TRUP, located near the confluence of the city’s Liesbeek and... 

Atterbury to open new Ghana mall in April

By: Megan van Wyngaardt     24th March 2017 South African property development company Atterbury will open its fourth retail development in Ghana, the $95-million Kumasi City mall on April 20. The 18 500 m2 modern mall, with potential for a future 10 000 m2 expansion, will give the city of Kumasi its first one-stop building with shopping... 

Atterbury to open new Ghana mall in April

Property body investigates municipal rates and taxes

By: David Oliveira     24th March 2017 The South African Property Owners Association (Sapoa) announced last month that it had reappointed specialist consultants Rates Watch to monitor rates policies for the next five years, owing to the negative impacts of rising municipal rates and taxes on operating costs, gross rentals and property... 

Attacq welcomes BMW’s R400m investment in Waterfall distribution facility

By: Anine Kilian     22nd March 2017 JSE-listed Attacq has welcomed BMW Group South Africa’s (BMW SA's) decision to invest in the construction of a 32 000 m2 regional distribution facility at the Waterfall Distribution Campus, in Midrand, Gauteng. The value of this investment and the revamp of its headquarters, also in Midrand,... 

Bulk of the industry’s future turnover to flow to black firms – WBHO

By: Irma Venter     10th March 2017 Amid a series of lossmaking results reported within the South African construction industry in February, building and civil engineering contractor Wilson Bayly Holmes-Ovcon (WBHO) delivered a bit of positive news to battered investors. The group reported steady revenue for the six months ended... 

New interim CEO at Group Five as top executives depart

By: Irma Venter     10th March 2017 Group Five CEO Eric Vemer has unexpectedly announced his resignation – “within the next few weeks” – from the JSE-listed construction group. Vemer took over from Mike Upton on December 1, 2014, and spent less than three years at the helm of Group Five. 

Office tower development seen heralding new Gauteng CBD

By: Anine Kilian     10th March 2017 Accounting firm PwC’s Waterfall City-based 28-storey office building, launching in February 2018, has the potential to spearhead the new central business district (CBD) of Gauteng. Located between Midrand and Woodmead, off the Alandale interchange on the N1 highway, the R1.5-billion skyscraper... 

Office tower development seen heralding new Gauteng CBD

Proposals for development of Cape Town’s Foreshore Freeway precinct put on display

By: Megan van Wyngaardt     6th March 2017 Six private-sector proposals for the development of 6 ha of city-owned land in the Foreshore Freeway precinct – located under and between the existing and unfinished highways between the city’s northern edge and the Cape Town harbour – are on display at the city’s civic centre for public comment.... 

Proposals for development of Cape Town’s Foreshore Freeway precinct put on display

Hyprop sees distribution growth double as European portfolio picks up

By: Megan van Wyngaardt     3rd March 2017 Shopping centre-focused real estate investment trust Hyprop reported strong double-digit growth in distributions for the six months to December, 31, owing to a solid performance from its local shopping centres and supported by the inclusion of distributable income from the newly acquired... 

Fairvest posts higher H1 distribution

By: Megan van Wyngaardt     2nd March 2017 Successful capital raises of R206.7-million, attractive acquisitions and steady growth in property valuations contributed to Fairvest Property Holdings’ net asset value increasing by 20.8% to R1.60-billion for the six months ended December 31. This was paired with distributions increasing by... 

Growthpoint posts distribution growth of 6.1% for H1

By: Megan van Wyngaardt     1st March 2017 JSE-listed real estate investment trust (Reit) Growthpoint Properties on Wednesday reported distribution growth of 6.1% for the six months to December 31, delivering performance comfortably in line with market guidance. Growthpoint achieved an increase in total distributable income of 10% from... 

Growthpoint posts distribution growth of 6.1% for H1

Amid sea of construction-sector red, WBHO in the black

By: Irma Venter     28th February 2017 Amid a series of lossmaking results reported within the South African construction industry over the last two weeks, building and civil engineering contractor Wilson Bayly Holmes-Ovcon (WBHO) on Tuesday delivered a bit of positive news to battered investors. The group reported steady revenue for... 

Amid sea of construction-sector red, WBHO in the black

Attacq holds strong amid external risks

By: Megan van Wyngaardt     28th February 2017 While the six months to December 31 was marred by a tougher global economy, political uncertainty and international market volatility, JSE-listed property group Attacq still managed to grow its local portfolio by 9.6%, with a total asset value of R27.1-billion. At a briefing to discuss the... 

Attacq holds strong amid external risks
Attacq CEO Morne Wilken

Gibela to resume Dunnottar plant construction as Duduza protests die down

By: Megan van Wyngaardt     28th February 2017 Construction work can now resume at Gibela Rail Transport Consortium’s (Gibela’s) R1-billion train manufacturing facility at Dunnottar, after weeks of community protests in Duduza, Ekurhuleni, have come to an end. Gibela earlier this month halted construction work at the plant out of concern for... 

Brimstone pays out 15th consecutive dividend

By: News24Wire      28th February 2017 Brimstone recorded a 22% increase in revenue and a 147% increase in operating profit for the financial year ended 31 December 2016, the company announced on Monday. A dividend of 42c a share was declared. 

Ekurhuleni launches new R8.9bn housing settlement in Boksburg  

By: Megan van Wyngaardt     27th February 2017 A new R8.9-billion housing development project on the East Rand of Gauteng is set to provide 22 000 houses over the next seven years. The Leeuwpoort project, just off Rondebult road, comprises three integrated residential development areas, with two parts in the north, Parkdene Ext 7 and Reiger... 

Ekurhuleni launches new R8.9bn housing settlement in Boksburg
Ekurhuleni government has launched a R8.9-billion housing project. Video and editing: Nicholas Boyd. 27/02/2017

Group Five reports R383m loss, CEO Eric Vemer resigns

By: Irma Venter     22nd February 2017 Group Five CEO Eric Vemer has unexpectedly announced his resignation – “within the next few weeks” – from the JSE-listed construction group. Vemer took over from Mike Upton on December 1, 2014, and spent less than three years at the helm of Group Five. 

Group Five reports R383m loss, CEO Eric Vemer resigns
Photo by Duane Daws
Eric Vemer

Budget makes room for more housing opportunities

By: News24Wire      22nd February 2017 Government is to spend R29.8-billion on housing, according to the National Budget. Finance Minister Pravin Gordhan delivered Budget 2017 in parliament on Wednesday. He said it was important to have intergovernmental cooperation between the different spheres to improve delivery of services such as... 

Budget makes room for more housing opportunities

Construction sector ‘pushing boundaries’ of transformation 

     17th February 2017 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about the agreement between government and South Africa’s construction industry to accelerate transformation in the sector. 

Construction sector ‘pushing boundaries’ of transformation
Camera & editing: Nicholas Boyd
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