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Property News

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

Commitment to quality boosts confidence in specialised product

By: Robyn Wilkinson     17th February 2017 Construction solutions provider a.b.e. Construction Chemicals is seeing growing confidence in the use of specialised coatings in the South African construction industry, proving that the company’s commitment to high quality and durability in its product range continues to be a successful strategy... 

Commitment to quality boosts confidence in  specialised product
BRETT LARSEN a.b.e. Construction Chemicals focuses on prioritising good quality standards and keeping up to date with product advancements

Partnership crucial in addressing housing shortfall

By: Robyn Wilkinson     17th February 2017 Demonstrating the potential for the success of private-public partnerships, residential property developer Calgro M3 and construction products supplier PPC have partnered to upgrade an informal settlement along the Fleurhof dam, in Johannesburg, into a fully integrated city. 

Partnership crucial in addressing housing shortfall
DEVELOPMENT AT FLEURHOF 9 600 housing units together with infrastructure for community services will be completed along the Fleurhof dam by 2018

Liberty Two Degrees sees ongoing growth in year ahead

By: Megan van Wyngaardt     16th February 2017 In its first set of financial statements since listing on the JSE, real estate investment trust Liberty Two Degrees (L2D) has reported a distribution of 4.85c per unit for the year ended December 31. The company on Thursday said it had R2.8-billion in cash available for acquisitions, positioning... 

JHB Property Company unveils rejuvenation initiatives 

     1st February 2017 The Johannesburg Property Company invited media in December last year to view the construction sites of the new R340-million Johannesburg Council Chamber building and Alexandra townships latest mall, Alex Mall. David Oliveira reports.  

JHB Property Company unveils rejuvenation initiatives
Media tour highlights Johannesburg rejuvenation initiatives

New community schemes ombud service open for business

By: Megan van Wyngaardt     27th January 2017 Since the promulgation of the Community Schemes Ombud Service (CSOS) Act 2011, in October 2016, the ombudsman’s office has received 21 000 registration applications for community schemes. During a briefing in Johannesburg, on Friday, CSOS ombudsman Themba Mthethwa said that prior to the... 

New community schemes ombud service open for business

Atterbury Property Fund appoints new chairperson

By: Natasha Odendaal     23rd January 2017 Property developers Atterbury group’s newly launched real estate holding fund Atterbury Property Fund has appointed Allen Swiegers as its new chairperson. Swiegers concluded 33 years with Deloitte where he held several senior positions, including that of Deloitte board member, COO of Deloitte... 

New Joburg council chamber design draws on lekgotla theme

By: David Oliveira     20th January 2017 The new R340-million Johannesburg Council Chamber building, with several unique features, was showcased to the media last month by the Joburg Property Company (JPC). JPC property development senior manager Alan Dinnie explained during the tour that the new building, expected to reach completion... 

Atterbury progressing with Pretoria legal hub development

By: Megan van Wyngaardt     19th January 2017 Property developers Atterbury are progressing with the development of a 6 000 m2 urban office precinct, aimed at legal practitioners. The Club Advocates’ Chambers, near Menlo Park, in Pretoria, will offer office space for around 120 advocates, with the option of sectional title ownership. 

Atterbury progressing with Pretoria legal hub development

Draft new built environment regulations to be completed by financial year-end – Nxesi 

By: Anine Kilian     13th January 2017 The Department of Public Works (DPW) is reviewing “outdated” legislation that regulates the built environment. Addressing media on the sidelines of a DPW bursary awards ceremony in Centurion, on Friday, Public Works Minister Thulas Nxesi noted that the department intends to have new built... 

Draft new built environment regulations to be completed by financial year-end – Nxesi
Public Works Minister Thulas Nxesi says the department is making progress with its seven-year turnaround plan. Video and editing: Nicholas Boyd.

Nelson Mandela Children’s Hospital seeks to bring hope 

     12th January 2017 From Creamer Media in Johannesburg, this is the Real Economy Report. Sashnee Moodley: The brainchild and dream of former statesman Nelson Mandela, who encouraged society’s involvement in the nurturing and safeguarding of children, The Nelson Mandela Children’s Hospital, will soon launch. Megan... 

Nelson Mandela Children’s Hospital seeks to bring hope
Nelson Mandela Children’s Hospital seeks to bring hope

KwaZulu-Natal to get another retail, logistics park

By: Megan van Wyngaardt     10th January 2017 A multimillion-rand logistics and retail park being developed by M&F Giuricich Developments and Fortress Property Fund, in KwaZulu-Natal, will be built this year. The logistics park, located between the King Shaka International Airport and Durban, will form part of the N2 Business Estate, located... 

KwaZulu-Natal to get another retail, logistics park

Property Point opens applications for enterprise development programme

By: Megan van Wyngaardt     20th December 2016 Enterprise development vehicle Property Point, a Growthpoint Properties initiative, has invited entrepreneurs that have businesses operating in the property industry to apply for its next two-year enterprise development programme intake before January 31, 2017. As part of its latest intake,... 

Timber houses become tourist attraction

By: Megan van Wyngaardt     20th December 2016 Thirty-two forestry workers’ timber houses at the Grootvadersbosch Nature Reserve, near Heidelberg, in the Western Cape, have been transformed into “eco-unit” accommodation for tourists. Work on this R14.5-million project, commissioned for conservation group CapeNature, started in April 2015 and... 

Property stalwart's light is dimmed

By: Megan van Wyngaardt     19th December 2016 Property industry stalwart Gerald Leissner passed away on December 16. Leissner was founder and CEO of JSE-listed property investment companies Arrowhead and Stenprop, as well as chairperson of Indluplace. 

Football Safe-Hub kicks off in Alexandra 

     14th December 2016 From Creamer Media in Johannesburg, this is the Real Economy Report. Sashnee Moodley: The Totalsports Safe-Hub, a football-based after-school programme for youth development, was launched last month in Alexandra, Johannesburg, as part of the South African Football Association’s (Safa’s) Vision... 

Football Safe-Hub kicks off in Alexandra
Football Safe-Hub kicks off in Alexandra

New Johannesburg Council Chamber to allow for greater public participation in governance

By: David Oliveira     13th December 2016 The new R340-million Johannesburg Council Chamber building, which is expected to be complete in March next year, will boast dedicated seats for the public and media. Joburg Property Company (JPC) property development senior manager Alan Dinnie on Tuesday told journalists attending a media tour... 

Local property market expected to pick up in 2017

By: Megan van Wyngaardt     12th December 2016 While political and economic uncertainty is likely to continue across the globe next year, it is hoped that local economic growth will be modestly stronger, which will be more supportive for the South African housing market, Pam Golding CEO Dr Andrew Golding said on Monday. “Economists and... 

Local property market expected to pick up in 2017

First phase of new medical precinct in Cape Town completed

By: Megan van Wyngaardt     9th December 2016 The new flagship Netcare Christiaan Barnard Memorial Hospital has been opened in Cape Town’s central business district (CBD). The 16-storey building, with about 30 000 m2 of floor space, will comprise 248 beds, of which of 61 will be used for intensive care and high care. 

First phase of new medical precinct in Cape Town completed
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