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Property News

Rebosis shares fall on lower dividend

By: Tasneem Bulbulia     12th November 2018 JSE-listed real estate investment trust (Reit) Rebosis Property Fund's share price fell by more than 23% on Monday. The Reit declared a dividend of 252.86c per A ordinary share and 92.83c per ordinary share for the financial year ended August 31. This represents a 5% year-on-year increase in the... 

Atterbury concludes new BBBEE deal

By: Tasneem Bulbulia     8th November 2018 Property development and investment company Atterbury has concluded a significant broad-based black economic empowerment (BBBEE) transaction that secures 30% black ownership of Atterbury Property Fund (APF), the company announced on Thursday. APF is now 30% owned by Talis Investment Partners... 

Atterbury concludes new BBBEE deal
Atterbury CEO Louis van der Watt and entrepreneur Tebogo Mogashoa

Rexroth HUBB launches to fully consolidate companies  

8th November 2018 The Rexroth HUBB, in Kempton Park, was officially inaugurated in October, with this 16 000 m2 central hub housing the Bosch Rexroth South Africa group of companies, formerly the Hytec Group. Tasneem Bulbulia tells us more. 

Rexroth HUBB launches to fully consolidate companies
Rexroth HUBB launches to fully consolidate companies

Wits university builds additional student accommodation

By: African News Agency      7th November 2018 26’10 South Architects and Corobrik said on Wednesday that the construction of additional accommodation at the University of Witwatersrand’s Barnato Hall of Residence would provide about 150 students with new rooms by the end of 2019.  The Department of Higher Education said there was a shortfall... 

Redefine distributable income rises above R5bn mark for FY18

By: Marleny Arnoldi     5th November 2018 JSE-listed real estate investment trust (Reit) Redefine Properties reported year-on-year distribution growth of 5.5% for the financial year to August 31, with full-year distribution of 97.1c apiece, compared with 92c apiece in the prior year. The board declared a gross dividend of 49.8c apiece... 

Brick and mortar retail not dying a slow death – US property developer  

By: Marleny Arnoldi     1st November 2018 Private commercial real estate investor and operator Rainier Companies principal Danny Lovell says brick and mortal retail is here to stay, despite rapid growth in sales on e-commerce platforms. “It is easy to get caught up in the ‘retail Armageddon’ story and it clearly has created . . .... 

Brick and mortar retail not dying a slow death – US property developer
Emira Property Fund CEO Geoff Jennett

Three Joburg properties open for public tender as part of inner city rejuvenation

By: Tasneem Bulbulia     26th October 2018 The City of Joburg (CoJ) has released information about three inner city properties that are now open for public tender by potential developers, as part of its inner-city rejuvenation project that comprises over 80 buildings and plots for renovation. This project aims to fulfil the city’s vision... 

City of Cape Town delays decision on social housing project

By: News24Wire      26th October 2018 The Cape Town City council was scheduled on Thursday to announce its decision on the sale of City-owned land to housing non-profit organisation Communicare for redevelopment for social housing, GroundUp has reported. But the decision was pushed back to the next council meeting because "the DA... 

Giuricich Bros secures Vukile investment for new prime offices

By: African News Agency      25th October 2018 Family-owned construction firm Giuricich Bros said on Thursday JSE-listed retail real estate investment trust Vukile Property Fund had acquired a substantial section of its new premium-grade offices in Rosebank. Giuricich began work on the 6 400 m2 office block development in September 2017 and... 

Octodec focuses on tenant retention, property value-add in challenging market

By: Marleny Arnoldi     22nd October 2018 JSE-listed real estate investment trust Octodec has declared a 203.4c distribution a share for the financial year ended August 31, which is nearly unchanged from the 203.1c a share distribution reported for 2017. Net asset value per share also remained virtually unchanged at R29.39, compared... 

Octodec focuses on tenant retention, property value-add in challenging market
Octodec MD Jeffrey Wapnick

Calgro M3 remains committed to delivering shareholder value despite current challenges

By: Simone Liedtke     22nd October 2018 In a period described by CEO Wikus Lategan as one of the most difficult ever experienced by the company, JSE-listed Calgro M3 posted revenue of R628.6-million for the six months ended August 31. Calgro M3 faced several major challenges, including uncertainty over the economy, coupled with... 

Divercity invests R2bn in Absa Towers, Jewel City redevelopments as part of inner city rejuvenation 

18th October 2018 Divercity Urban Property Fund is investing R2-billion in two redevelopment projects – the Absa Towers Main building and Jewel City – in Johannesburg, as part of its strategy to create thriving mixed-use inner city precincts. Tasneem Bulbulia tells us more. 

Divercity invests R2bn in Absa Towers, Jewel City redevelopments as part of inner city rejuvenation
Divercity invests R2bn in Absa Towers, Jewel City redevelopments as part of inner city rejuvenation

Attacq, Tricolt to launch first high-rise luxury apartments in Waterfall City

By: Simone Liedtke     16th October 2018 JSE-listed Attacq has partnered with property development company Tricolt to launch the first high-rise luxury apartments in Waterfall City, with the first phase of development set to be completed by 2021. The development is comprised of four towers – the Newton, Kepler, Da Vinci and Galileo... 

Attacq, Tricolt to launch first high-rise luxury apartments in Waterfall City
Artist's impression of the Ellipse Waterfall exterior

Tower Property generates R396m in proceeds, property net income guidance remains unchanged

By: Simone Liedtke     16th October 2018 Real estate investment trust (Reit) Tower Property Fund (TPF) has generated proceeds of R396-million from asset management initiatives in the current financial year, which it will use as part of its total return strategy. The asset management initiatives included the sale of the Pick n Pay... 

Prudent capital allocation keeps Balwin performing in H1 despite challenging climate

By: Marleny Arnoldi     15th October 2018 JSE-listed housing developer Balwin Properties handed over 1 058 residential units, which contributed to a 33% increase in revenue to R1.19-billion for the six months ended August 31. An average unit selling price of R1.12-million was achieved, compared with R1.2-million in the same period of... 

Prudent capital allocation keeps Balwin performing in H1 despite challenging climate
Balwin Properties CEO Steve Brookes

Sapoa to research root causes of planning delays in various municipalities

By: Marleny Arnoldi     12th October 2018 South African Property Owners Association (Sapoa) CEO Neil Gopal says property sector role-players are experiencing significant challenges in some municipalities with regard to building plan application processes and land use/zoning. These challenges lead to a number of issues impacting on the... 

Equites reports solid growth in H1 distributions a share, strategic acquisitions

By: Marleny Arnoldi     11th October 2018 Despite a challenging economic climate, JSE-listed real estate investment trust Equites Property Fund's portfolio continued to perform well during the six months ended August 31, which translated into an 11.7% year-on-year growth in distributions a share. Distributions a share for the period... 

Divercity invests R2bn in Absa Towers, Jewel City redevelopments as part of inner city rejuvenation  

By: Tasneem Bulbulia     10th October 2018 Divercity Urban Property Fund is investing R2-billion in two redevelopment projects – the Absa Towers Main building and Jewel City – in Johannesburg, as part of its strategy to create thriving mixed-use inner city precincts. This investment is the largest into the Johannesburg central business... 

Divercity invests R2bn in Absa Towers, Jewel City redevelopments as part of inner city rejuvenation
Talis Property Fund chairman Tebogo Mogashoa outlines Divercity Urban Property Fund’s investment of R2-billion in the ABSA Towers Main building and Jewel City redevelopments for inner-city rejuvenation; and executive Mayor of the City of Johannesburg Herman Mashaba emphasises the city’s support for these projects. Video: Nicholas Boyd: Editing: Christo Greyling

Emira concludes portfolio rebalancing with BEE deal, acquisition of Transcend stake

By: Tasneem Bulbulia     9th October 2018 Emira Property Fund is selling a sizeable R1.8-billion portfolio of 25 office assets to a new majority black-owned entity, Shankly Property Investments, which was specifically set up for this purpose. This concludes the diversified real estate investment trust’s (Reit’s) programme of rebalancing... 

Emira concludes major portfolio rebalancing with landmark R1.8bn BEE deal

By: Tasneem Bulbulia     9th October 2018 Emira Property Fund is selling a sizeable R1.8-billion portfolio of 25 office assets to a new majority black-owned entity, Shankly Property Investments, which was specifically set up for this purpose. This concludes the diversified real estate investment trust’s (Reit’s) programme of rebalancing... 

Prinsloo to head Redefine's new Europe division

By: Creamer Media Reporter      3rd October 2018 JSE-listed real estate investment trust Redefine Properties has appointed Hyprop Investments CEO Pieter Prinsloo to head up Redefine Europe, effective February 1, 2019.   “The new role was necessitated as Redefine advances its geographic diversification strategy through direct investment in... 

Group Five announces R1.43bn loss, Teixeira resigns

By: Irma Venter     2nd October 2018 Group Five will focus on its Developments & Investments (D&I) and Operations & Maintenance (O&M) businesses going forward, with a “de-emphasis” on the Construction and Engineer, Procure and Construct (EPC) businesses. This “de-emphasis” did not mean Group Five was walking away from construction,... 

Group Five announces R1.43bn loss, Teixeira resigns
Cristina Teixeira

City of Cape Town to spend over R2bn on new housing – De Lille

By: African News Agency      2nd October 2018 The city of Cape Town’s Transport and Urban Development Authority (TDA) will spend over R2-billion on new housing over the next three financial years, with over R500-million budgeted for 2018/19, mayor Patricia de Lille said on Tuesday. In a statement, de Lille said the 2018/19 budget was... 

City of Cape Town to spend over R2bn on new housing – De Lille
Photo by Reuters
Cape Town Mayor Patricia de Lille

Texton declares dividend despite ‘tough’ market conditions

By: Tasneem Bulbulia     1st October 2018 Despite facing some of the toughest challenges in its history, Texton Property Fund declared a final dividend of 41.36c a share for the financial year ended June 30. The total dividend for the year amounted to 89.31c, below guidance, and lower than the total dividend of 102.8c declared in the... 

Clearer disclosure for reporting metrics on the way for listed property sector

By: Marleny Arnoldi     1st October 2018 The South African Real Estate Investment Trust (Reit) sector is getting an update regarding best practice recommendations, to make financial reporting of Reits clearer and more comparable, while bringing the listed property sector on par with Reit structures around the world. The South African... 

Clearer disclosure for reporting metrics on the way for listed property sector
SA Reit chairperson Izak Petersen

Hyatt Hotels to more than double its Africa hotels by 2020

By: Reuters     26th September 2018 Hyatt Hotels Corp plans to more than double its hotels in Africa by 2020 to capitalise on improved travel links and robust economic growth that is boosting demand for rooms, the company's regional vice president said on Wednesday. Hyatt currently has nine hotels in Africa but lags far behind... 

Three UCT lecturers participate in international Solar Decathlon competition

By: Simone Liedtke     26th September 2018 Thee lecturers from the University of Cape Town (UCT) are part of Team Mahali, the only team representing sub-Saharan Africa in the international Solar Decathlon competition, which will be held in Morocco next year. The Solar Decathlon is an international competition to design and build a fully... 

Greater demand for transparency needed in African real estate industry

By: Simone Liedtke     20th September 2018 There is a growing acknowledgement of the central role that a transparent real estate sector plays in providing healthy, productive and competitive environments for communities and businesses, investment management company JLL global research head Jeremy Kelly said on Thursday. Market... 

Abland to develop combined-use Menlyn Maine Towers

By: Schalk Burger     19th September 2018 Property developer Abland will develop a combined motor dealership and premium office space, called Menlyn Maine Towers, in Pretoria, and aims to achieve a 4-star green rating accreditation with the Green Building Council of South Africa. The development for the Barloworld Toyota Menlyn... 

Tower Property acquires prime industrial property in Croatia

By: Simone Liedtke     17th September 2018 Tower Property Fund’s Croatian subsidiary TPF International has acquired a prime industrial property in Zagreb, Croatia, for nearly €8.6-million. TPF will fund the purchase price, which is payable in cash on the transfer date, using 60% cash and 40% shares. 

Texton appoints interim CEO

By: Simone Liedtke     17th September 2018 Marius Muller has been appointed interim CEO at JSE-listed Texton Property Fund. He takes over from Nosiphiwo Balfour. 

New road paves way into one of the biggest industrial estates in South Africa  

By: Marleny Arnoldi     17th September 2018 JSE-listed real estate investment trust Redefine Properties, together with Abland Property Developers, on Monday unveiled the completed new public road that will improve accessibility to the S&J industrial estate, situated along the N3 highway, south of Germiston, in Gauteng. The construction of... 

New road paves way into one of the biggest industrial estates in South Africa
S&J industrial estate, in Germiston Gauteng

Poland says door open for South African investors 

By: Simone Liedtke     14th September 2018 Poland is open for business and remains committed to open trade between Poland and South Africa, Polish Ambassador to South Africa Andrzej Kanthak said on Friday. Speaking to delegates at the JSE’s first country investment day, in Johannesburg, which focussed on business relations between South... 

Tongaat's Ntshongweni urban development gets go-ahead

By: African News Agency      12th September 2018 Agricultural group Tongaat Hulett says it has all approvals in place for its Ntshongweni urban development after 20 years of planning. Tongaat said on Tuesday breaking ground on the mixed use development was due to commence in the first quarter of 2019. 

Attacq delivers maiden distribution of 74c

By: Tasneem Bulbulia     11th September 2018 Real estate investment Trust (Reit) Attacq delivered a maiden distribution of 74c apiece for the financial year ended June 30, exceeding market guidance. This comes on the back of the company’s conversion to a Reit in May. 

Liberty Two Degrees harnesses experienced staff to drive asset efficiency

By: Marleny Arnoldi     10th September 2018 Precinct-focused real estate investment trust (Reit) Liberty Two Degrees (L2D) has added to its team of experienced asset managers, with Carmen Collison now managing the Eastgate shopping centre, in east Johannesburg. Collison previously managed retail assets across a number of listed... 

Stor-Age to acquire self-storage properties in major cities for R58m

By: Marleny Arnoldi     10th September 2018 JSE-listed real estate investment trust Stor-Age has entered into agreements to acquire Roeland Street Investments 2 (RSI2) and Roeland Street Investments 3 (RSI3), for R58-million. RSI2 is being sold by Acucap Investments – a subsidiary of Growthpoint Properties, Stor-Age Property Holdings... 

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