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Property News

Emira to start leasing The Bolton apartments in Rosebank from August

By: Marleny Arnoldi     20th July 2018 JSE-listed real estate investment trust Emira Property Fund’s R200-million The Bolton apartment block, in Rosebank, will start welcoming its first residents in August. Emira converted an office property block formerly occupied by petrochemicals giant Sasol into a contemporary residential... 

SA’s ambitious Youth Employment Service starts taking shape 

By: Marleny Arnoldi     20th July 2018 The Youth Employment Service (YES) aims to create one-million jobs within three years to help alleviate the situation of six-million unemployed youths in South Africa, 60% of whom reside in townships and rural areas. YES was established by the CEO Initiative, which is a partnership created... 

SA’s ambitious Youth Employment Service starts taking shape
YES CEO Tasmia Ismail-Saville discusses the first hub opening and company involvement towards the initiative. Camerawork and Editing: Nicholas Boyd.

Stenprop sells Swiss properties

By: Creamer Media Reporter      19th July 2018 JSE- and LSE-listed Stenprop has completed the sale of two of its properties, Altendorf and Arlesheim, in Switzerland, as part of its strategy of positioning itself as a specialised UK multi-let industrial real estate investment trust. The two properties were sold to Helvetica Swiss Commercial. 

WBHO grows its UK presence

By: Creamer Media Reporter      19th July 2018 Wilson Bayly Holmes-Ovcon (WBHO) subsidiary WBHO UK has acquired a 60% stake in UK construction business Russells for £32.8-million, as well as a 31.7% stake in Russell Homes for £3.25-million. Russells provides design, installation and project management capabilities in the UK construction... 

WBHO grows its UK presence

First African company announces science-based greenhouse gas target

By: African News Agency      19th July 2018 Emira Property Fund has become the first African and South African company to have a greenhouse gas emissions target approved by the Science Based Targets initiative (SBTi). The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute and the World... 

Vukile raises R1.63bn, acquires new properties in Spain

By: Anine Kilian     18th July 2018 JSE-listed Vukile Property Fund, which is expanding its presence in Spain, has raised about R1.63-billion through the issue of new shares. Of the total, R1.38-billion was raised through an accelerated bookbuild process that was open to selected investors. 

Calgro M3 expands Memorial Parks business

By: Anine Kilian     18th July 2018 JSE-listed property and property related investment holding company Calgro M3 has expanded its Memorial Parks business to two more provinces – the Western Cape and the Free State. This increases the number of memorial parks owned and managed by the group to five, with further plans to acquire... 

Growthpoint shares start trading on A2X

By: Creamer Media Reporter      18th July 2018 Real estate investment trust Growthpoint Properties’ shares began trading on the A2X on Wednesday. Growthpoint retains its primary listing on the JSE. 

Grit to seek LSE listing, raise $120m for acquisitions

By: Creamer Media Reporter      17th July 2018 Pan-African real estate company Grit Real Estate Income Group plans to list on the LSE. The company, which is focused on real estate investment assets in selected African countries, is already listed on the JSE, as well as the Stock Exchange of Mauritius. 

Stenprop acquires industrial estate for £3.1m

By: Creamer Media Reporter      13th July 2018 JSE- and LSE-listed industrial property investor Stenprop has acquired an industrial estate in Newport, South Wales, from Storage Giant for £3.1-million. Estuary Court is a modern estate, located in the established industrial location of Queensway Meadows. It comprises 20 units offering 34 980... 

Property sector must do more on transformation – PSCC

By: Schalk Burger     12th July 2018 The South African property sector is making reasonable efforts towards transformation, but it needs to pick up the pace, says the Property Sector Charter Council (PSCC). The PSCC this week released the results of its ‘2016-2017 State of Transformation Report’, which sampled institutional... 

Growthpoint to become the first property company to list on A2X

By: Creamer Media Reporter      11th July 2018 Real estate investment trust Growthpoint Properties will be the first property company to take up a secondary listing on A2X – a licensed stock exchange that provides a secondary listing venue for companies. The company, which manages a portfolio of commercial, retail and industrial property... 

Egypt wants $500m from World Bank

By: African News Agency      11th July 2018 Egypt’s Ministry of Investment and International Cooperation has held discussions with the World Bank for an additional $500-million loan for the country’s social housing projects targeting low-income households, according to an official ministry statement. The discussions were held on Tuesday... 

Growthpoint Properties Australia outperforms major share market indexes

By: Marleny Arnoldi     10th July 2018 Growthpoint Properties subsidiary Growthpoint Properties Australia’s (GOZ’s) total returns have outpaced the major Australian real estate investment trust and share market indexes.  

Growthpoint Properties Australia outperforms major share market indexes
Growthpoint CEO Norbert Sasse

Vantage Capital invests $10m on property in Mauritius

By: African News Agency      9th July 2018 Fund managers Vantage Capital has provided $10-million of mezzanine funding to Cap Tamarin, a mixed-used, residentally-focused smart village located on the sought-after west coast of Mauritius. Cap Tamarin will feature innovation centres to support start-ups, small and medium enterprises and... 

Growthpoint launches new trading, development business unit

By: Simone Liedtke     3rd July 2018 International property company Growthpoint Properties has formed a dedicated trading and development business unit. This new specialised division, the company explained on Tuesday, will play a key role in creating “excellent business opportunities for the company and world-class premises for its... 

Growthpoint launches new trading, development business unit
Growthpoint’s new chief investment and development officer Rudolf Pienaar

More than R650m budgeted to prepare Gauteng land for expropriation   

By: Anine Kilian     2nd July 2018 The Department of Human Settlements has budgeted more than R650-million to prepare identified portions of land in Gauteng for expropriation without compensation. Human Settlements MEC Dikgang Uhuru Moiloa said on Monday that the province’s rapid land release programme, launched in May, would... 

More than R650m budgeted to prepare Gauteng land for expropriation
Human Settlements MEC Dikgang Uhuru Moiloa talks about land expropriation without compensation

Group Five relocates in effort to cut costs, secures early work on PPP

By: Irma Venter     2nd July 2018 Cash-strapped construction firm Group Five has relocated its offices as part of an effort to cut costs. The JSE-listed group said on Monday that its South African construction operations had been relocated to Spartan, on the East Rand, to owner-occupied premises. 

Group Five relocates in effort to cut costs, secures early work on PPP

Offshore property investment a big opportunity for South African Reits

By: Nadine James     29th June 2018 The global sell-off in emerging markets, an intractably weak domestic economy, an oversupply of business space and a focus on the quality of earnings are all set to be major drivers of South Africa’s real estate investment trust (Reit) sector in the second half of this year, the SA Reit... 

EPP on solid growth path with strong Q1 operational performance

By: Anine Kilian     25th June 2018 JSE-listed Polish property company EPP successfully bought the first tranche of the M1 portfolio, comprising four properties in sought after regions, adding 194 000 m² in gross lettable area (GLA) and taking total income producing assets to over €2-billion in the quarter ended March 31. The M1... 

100 Resilient Cities appoints Dana Omran as MD for Africa

By: Marleny Arnoldi     25th June 2018 Dana Omran has been appointed Africa MD for the Rockefeller Foundation’s 100 Resilient Cities (100RC) programme.  

Western Cape govt identifies 7 possible affordable housing sites

By: News24Wire      21st June 2018 At least seven vacant plots have been identified as "possible sites for social and affordable housing" in Cape Town's southern suburbs, including Parkwood, Lotus River and Retreat. The announcement was made by Thando Mguli, head of the Western Cape Department of Human Settlements, GroundUp... 

‘Prudent’ consolidation positions Accelerate for future growth – COO

By: Nadine James     20th June 2018 JSE-listed Accelerate Property Fund on Wednesday posted stable financial results for the year ended March 31, reporting a 57.56c a share distribution, in line with guidance. Since listing on the JSE in December 2013, the company’s portfolio has grown from about R5-billion to R12.3-billion,... 

Attacq appoints new CEO, CFO

By: Simone Liedtke     19th June 2018 JSE-listed Attacq has appointed Melt Hamman CEO and Raj Nana CFO and executive director, with immediate effect. “After a rigorous process we are delighted to permanently appoint Melt as the CEO. Melt has provided the team with clear direction and guidance as interim CEO and has a strong history... 

Atterbury signs first tenant for Randport industrial development

By: Anine Kilian     19th June 2018 Contact lens manufacturer CooperVision will become the first tenant at JSE-listed Atterbury’s R850-million Randport industrial development, in Gosforth Park, Germiston, Ekurhuleni.   

Basil Read enters business rescue

By: Irma Venter     15th June 2018 Basil Read on Friday announced that it has entered voluntary business rescue, as provided for by Section 129 of the Companies Act. Shares in the construction group plummeted 94% in afternoon trade, from a high of 22c to a low of 1c. 

Basil Read enters business rescue

Attacq continues to develop Waterfall City

By: Anine Kilian     13th June 2018 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. During a tour of the Waterfall City precinct on Wednesday, head of development Giles Pendleton said the last... 

Attacq continues to develop Waterfall City

Growthpoint Healthcare launches with R2.4bn portfolio

By: Nadine James     13th June 2018 Growthpoint Properties has launched South Africa’s first unlisted healthcare real estate investment trust (Reit), Growthpoint Healthcare Property Holdings, which already holds five assets valued at R2.4-billion. The introduction of Growthpoint Healthcare has received strong market interest with... 

Growthpoint Healthcare launches with R2.4bn portfolio

Exemplar lists on JSE main board

By: Simone Liedtke     12th June 2018 Despite volatility in the current market, real estate investment trust (Reit) Exemplar REITail on Tuesday listed in the retail Reit sector of the main board of the JSE. Exemplar MD Jason McCormick on Tuesday said the listing will allow the company to stand alongside the “giants of commerce and... 

Exemplar lists on JSE main board
Photo by Dylan Slater
(Left-to-Right) JSE Capital Markets Director Donna Nemer, Exemplar MD Jason McCormick and Exemplar Executive Director John McCormick

Stor-Age reports continued strong trading results for FY18

By: Marleny Arnoldi     12th June 2018 Real estate investment trust Stor-Age has reported an 11.1% year-on-year total dividend increase to 97.8c a share for the year ended March 31.  

Stor-Age reports continued strong trading results for FY18
Stor-Age CEO Gavin Lucas

Demand rising for funding for grid-tied renewables

By: Schalk Burger     8th June 2018 Financing to build renewable-energy systems for use by businesses in South Africa is growing, with many projects showing good financial viability and return on investment, says financial institution Absa renewable-energy head Justin Schmidt. The return on investment for well-designed energy... 

Demand rising for funding for grid-tied renewables
JUSTIN SCHMIDT Most companies will rely on more than one source of energy, and the most compelling business cases currently are grid-tied solutions

Basil Read enters new avenue with Savanna City residential development

By: Simone Liedtke     7th June 2018 As part of its turnaround strategy, construction group Basil Read on Thursday launched Basil Read Homes with the first of its 44 residential units on a land parcel at Savanna City, south of Johannesburg, which will, upon completion, boast about 18 399 integrated housing units. “This launch is a... 

Basil Read enters new avenue with Savanna City residential development

City of Cape Town to spend R2.1bn on housing 

By: African News Agency      7th June 2018 The City of Cape Town on Thursday said its Transport and Urban Development Authority (TDA) will spend R2.1-billion on the development of new housing opportunities. This comes after the TDA budget for the next financial year, starting on 1 July 2018, was set at R5.34-billion. 

Property sector increasingly embracing solar PV plants

By: Marleny Arnoldi     1st June 2018 JSE-listed real estate investment trust South African Corporate Real Estate (Sacre) will invest more than R30-million to install rooftop solar photovoltaic (PV) plants to help curb ever-rising electricity tariffs at its malls and reduce their carbon footprint.  

Property sector increasingly embracing solar PV plants
Montana Crossing solar panel rooftop

Gauteng govt to release unused land and properties in July

By: Donald Makhafola     1st June 2018 The Gauteng provincial government completed an assets register last year and is expecting to release its property portfolio to the value of R31-billion in July. The portfolio consists of unused land and buildings, Gauteng Infrastructure Development MEC Jacob Mamabolo told construction... 

Gauteng govt to release unused land and properties in July
JACOB MAMABOLO The Gauteng government will release its assets portfolio consisting of land and buildings in July

Nxesi launches expedited lease renewal process

By: Simone Liedtke     31st May 2018 Public Works Minister Thulas Nxesi on Thursday held a meeting with client departments, private landlords and other stakeholders to expedite finding a resolution to expired leases and the signing of long-term leases, including the so-called “9.11 leases” that are valid for nine years and eleven... 

Nxesi launches expedited lease renewal process
Photo by Creamer Media
Public Works Minister Thulas Nxesi

Attacq disputes claims of illegal water connections at Waterfall

By: Anine Kilian     31st May 2018 JSE-listed Attacq has refuted allegations by the City of Johannesburg (CoJ) regarding illegal water connections at some of the properties under its management in Waterfall City. The property development company said in statement on Thursday that it was in possession of all paperwork and invoicing... 

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