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Property News

Quality assets underpin Liberty Two Degrees' solid 2019 performance

By: Simone Liedtke     24th February 2020 Sustainable trading density growth of 3.6% for the year ended December 31 was reported for South Africa-focused retail-centered real estate investment trust (Reit) Liberty Two Degrees’ (L2D’s) retail portfolio, with Sandton leading at 9%, up from 4% in 2018. This, the company said on Monday, was... 

Fundi launches student accommodation digital platform

By: Tasneem Bulbulia     20th February 2020 Education funding and solutions provider Fundi on Thursday launched its new digital student accommodation platform, a single-access source for all things student accommodation. Launching the platform at the Rand Club, in Johannesburg, Fundi CEO Tshepo Ditshego said the organisation chose to... 

Balwin to buy Umhlanga property from Tongaat for R167m

By: Tasneem Bulbulia     19th February 2020 JSE-listed Balwin Properties has concluded an agreement to buy, from Tongaat Hulett Development, Portion 3 & 4 of Erf 3465 Umhlanga Rocks; Portion 6 of ERF 3465 Umhlanga Rocks; the remainder of Erf 3434 Umhlanga Rocks; and the remainder of Erf 3465 and 3457 Umhlanga Rocks, measuring 64 ha in... 

Emira focused on steady, incremental growth amid tough market conditions

By: Marleny Arnoldi     19th February 2020 JSE-listed real estate investment trust (Reit) Emira Property Fund says the performance of its US-based assets has contributed to the company’s distribution growth of 1.7% year-on-year for the six months ended December 31. The Reit declared an interim dividend of 74.10c for the six months under... 

Emira focused on steady, incremental growth amid tough market conditions
Emira Property Fund CEO Geoff Jennett

Growthpoint welcomes first tenants to its KZN industrial park

By: Marleny Arnoldi     19th February 2020 Real estate investment trust Growthpoint Properties has completed the first phase of its new Growthpoint Industrial Park, in KwaZulu-Natal. The company says the park has received keen market interest and its first tenants are already operating from the 20 300 m2 initial phase of the... 

Growthpoint welcomes first tenants to its KZN industrial park
Growthpoint Properties' industrial park, in KwaZulu-Natal

Vukile places oversubscribed R500m unsecured bond

11th February 2020 Retail-focused real estate investment trust Vukile Property Fund has issued R500-million senior unsecured corporate bonds with three and five-year maturities. The issue was significantly oversubscribed, with demand exceeding the maximum offer by 4.2 times. It drew orders from 15 different... 

Balwin announces R9bn development in Midrand  

By: Tasneem Bulbulia     6th February 2020 JSE-listed Balwin Properties on Thursday announced Munyaka, a R9-billion development in Waterfall, Midrand, which will include the largest freshwater lagoon in the southern hemisphere. Construction has started on the lagoon, which will cover an area the size of about seven rugby fields, along... 

Balwin announces R9bn development in Midrand
Artist impression of the development

Sanral’s new standard contract exposes contractors to higher risks, says MDA  

By: Irma Venter     4th February 2020 Amendments to the South African National Roads Agency Limited’s (Sanral’s) standard contract have made it significantly more difficult for contractors to deal with disruptions related to the construction mafia, warns construction and technology law specialist MDA Attorneys. The term ‘construction... 

Sanral’s new standard contract exposes contractors to higher risks, says MDA

Atterbury hands R150m showroom over to WeBuyCars

By: Marleny Arnoldi     30th January 2020 Property developer Atterbury on Wednesday handed over a new R150-million purpose-built showroom to car resale specialist WeBuyCars, in the Western Cape. The dealership development comprises 13 500 m2 of car floor space, which is able to accommodate about 700 cars, and 800 m2 of office space. 

Atterbury hands R150m showroom over to WeBuyCars

Demolition works underway at Melrose Arch 

29th January 2020 ICON Earthworks, part of the ICON Group, has been awarded a R2.5-million contract for the demolition of four buildings by property development company Amdec. Mc’Kyla Nortje has the story.  

Demolition works underway at Melrose Arch
Demolition works underway at Melrose Arch

Equites to develop a R1.3bn warehouse for Pepkor

By: Tasneem Bulbulia     22nd January 2020 JSE-listed real estate investment trust Equites Property Fund will develop a 122 734 m2 logistics warehouse facility in Hammarsdale, KwaZulu‑Natal, for JSE-listed retailer Pepkor. The indicative total cost of the development is R1.3-billion, which includes the cost of the land of R281-million. 

Amid Kenya power struggle, IMF says investment programme in crisis

By: Reuters     17th January 2020 Hundreds of mismanaged infrastructure projects have stalled in Kenya and it will cost around $10-billion to revive them, the IMF said in a report whose findings point to a growing power struggle at the heart of government. Amid mounting public anger over ballooning state debt and a series of... 

How high can you go? Race to the top for three African cities

By: Bloomberg     15th January 2020 What do South Africa, Côte d'Ivoire and Morocco have in common? The three countries spread across south, west and northern Africa are all vying to build the continent’s tallest building. The Leonardo, in Johannesburg’s upmarket Sandton neighborhood, is 234 m high and is the current holder of the... 

How high can you go? Race to the top for three African cities
The Leonardo, in Sandton

UK property company continues strategic disposal programme

By: Simone Liedtke     13th January 2020 UK real estate investment trust RDI is continuing to progress its strategic disposal programme amid positive letting activity. RDI CEO Mike Watters says the company’s asset management team has delivered a number of letting successes, reflecting the company’s ongoing focus on “maximising the... 

Aveng to consider legal options after Leonardo contract is terminated  

By: Tasneem Bulbulia     9th January 2020 Infrastructure and resources company Aveng plans to seek damages from Legacy Group after it moved to terminate Aveng’s contract for the construction of the building, which is Africa’s tallest. The company on Thursday revealed that it had received a notice purporting to terminate the contract for... 

Aveng to consider legal options after Leonardo contract is terminated
During construction

EPP board nominates Tomasz Trzósło to succeed Hadley Dean as CEO

By: Simone Liedtke     17th December 2019 The board of directors of property company EPP has nominated Tomasz Trzósło for appointment as CEO to succeed Hadley Dean, whose term of office is due to expire. Trzósło is expected to assume his role in May 2020, but it is subject to approval by the general meeting of shareholders. 

Growthpoint, Investec venture buys RMB Westport portfolio

By: Marleny Arnoldi     12th December 2019 Real estate investment trust (Reit) Growthpoint Investec African Properties (Giap) has successfully acquired the RMB Westport Real Estate Development Fund. The entity houses the assets developed and owned by Reit RMB Westport’s inaugural property development fund.  

Salvokop mixed-use development example of new, integrated urban development, says De Lille 

By: Simone Liedtke     11th December 2019 The establishment of Salvokop, in Tshwane, as a mixed-use development by the Department of Public Works and Infrastructure (DPWI) would drive integration and act as a catalyst for private sector investment, Public Works and Infrastructure Minister Patricia de Lille announced on Wednesday. She... 

Salvokop mixed-use development example of new, integrated urban development, says De Lille
Photo by Reuters
Patricia de Lille

Western Cape’s first property report provides ‘one stop shop’ guide for investors

By: Marleny Arnoldi     10th December 2019 The Western Cape's trade promotion agency Wesgro has launched an inaugural report on the province’s property market, which it says provides a comparative analysis on commercial office, retail, industrial and residential property for sale or to rent. Wesgro CEO Tim Harris said in a statement on... 

Atterbury completes R340m mall development in Mauritius

By: Simone Liedtke     9th December 2019 Property developer and investor Atterbury has completed the development of the R340-million Bo’Valon Mall, in Mahebourg, Mauritius. The mall is a joint venture (JV) between Atterbury and EnAtt and takes its name from the village it is located in in, Beau Valon, which means “beautiful valley”. 

Atterbury completes R340m mall development in Mauritius
External view of Atterbury’s Bo’Valon Mall in Mauritius

Emira successfully converts Bolton property from offices to residential

By: Marleny Arnoldi     5th December 2019 JSE-listed real estate investment trust Emira Property Fund and its partner Feenstra Group have completed the residential conversion of The Bolton, in Rosebank. Following the two-year development, Emira confirmed that more than 95% of the apartments have already been let. 

Emira successfully converts Bolton property from offices to residential

Urgent calls for reform as South Africa’s GDP contracts 0.6% in third quarter  

By: Simone Liedtke     3rd December 2019 South Africa’s gross domestic product contracted by 0.6% in the third quarter. However, on a year-on-year basis, the economy grew by 0.1%, Statistics South Africa statistician-general Risenga Maluleke told media on Tuesday. Previously, Stats SA had revealed that the GDP, in the first quarter of... 

Urgent calls for reform as South Africa’s GDP contracts 0.6% in third quarter
Statistician-general Risenga Maluleke

Vukile’s Spanish portfolio helps drive interim dividends

By: Marleny Arnoldi     2nd December 2019 With its assets in Spain contributing 47% of JSE-listed Vukile Property Fund’s earnings, CEO Laurence Rapp on Monday said the Spanish portfolio provided a rand hedge element and helped to protect the business from a stalled South African economy. The company’s Spanish portfolio is now valued at... 

Vukile’s Spanish portfolio helps drive interim dividends
Vukile CEO Laurence Rapp

Conlog invests R110m in factory at Dube TradePort SEZ

By: Tasneem Bulbulia     28th November 2019 Durban-based electronics manufacturing company Conlog has invested R110-million in a smart electricity meter manufacturing plant in the Dube TradePort Special Economic Zone (SEZ). The 12 000 m2 development, located at the now fully-subscribed Dube TradeZone 1, is a significant expansion of... 

Vukile to sell non-retail assets in deal aimed at advancing transformation

By: Simone Liedtke     28th November 2019 JSE-listed Vukile Property Fund will sell its remaining non-retail property assets to Mbako Property Fund in a deal that it says will contribute to economic and gender transformation in the South African property sector.   

Vukile to sell non-retail assets in deal aimed at advancing transformation
(Left to Right) RMB's Sashen Naidoo, AIH executive chairperson Sindi Mabaso-Koyana and Vukile CEO Laurence Rapp

Steyn City continues to invest as luxury development nears completion 

28th November 2019 In unveiling Steyn City’s Vision 2020 guideline last month, Steyn City Properties revealed that it continues to invest in its luxury lifestyle estate development as it nears completion. With the most recent investment totaling R5.5-billion, Simone Liedtke gives us some insights into what... 

Steyn City continues to invest as luxury development nears completion
Steyn City continues to invest as luxury development nears completion

Arrowhead records solid results in difficult climate

By: Tasneem Bulbulia     27th November 2019 JSE-listed real estate investment trust (Reit) Arrowhead Properties reduced it vacancy rate for the year ended September 30, despite a persistently challenging economic environment. Speaking to Engineering News Online on Wednesday, Arrowhead CEO Mark Kaplan said the industry had been... 

Cloud-based software anchors steel construction design

By: Halima Frost     22nd November 2019 Construction industry services and technology provider Hilti South Africa’s new, fully cloud-based steel anchor design software Profis has been well received in the South African construction sector. Launched in July, Profis Engineering is customised software used in the design of steel anchor... 

Cloud-based software anchors steel construction design
HARD JOB The new cloud-based software makes the design of steel erections, stiffeners and welding associated with the connection easier

Retail expansion an attainable goal

By: Theresa Bhowan     22nd November 2019 Listed as an overarching strategic focus, Sasol’s Retail division forms an integral part of the Sasol Groups’ investment strategy. Sasol Energy Retail and Corporate Affairs VP Mohamed Carrim, says that the organisation aims to substantially grow its market share in the foreseeable future as it... 

Retail expansion an attainable goal
Photo by Sasol
FILL ‘ER UP Sasol has 409 Sasol Convenience Centres nationally each consisting of a forecourt, a convenience store, and a bakery

Industry boasts third positive year despite global downturn

By: Halima Frost     22nd November 2019 Steel and Engineering Industries Federation of Southern Africa (Seifsa) chief economist and commercial executive Dr Michael Ade says the local metals and engineering (M&E) industry has thus far had a third ‘good year’ in a row. This is in spite of the current challenge of increasing intermediate... 

Industry boasts third positive year despite global downturn
BRIGHT FUTURE Improved trade to to the Southern African Development Community brings with it a positive outlook for the steel construction industry

EPP advocates for real estate investment policy in Poland

By: Marleny Arnoldi     18th November 2019 JSE-listed EPP has urged the Polish government to introduce real estate investment trust legislation for the country to make it more open for investment. COO Rafał Kwiatkowski believes the Polish property sector could be an excellent avenue for creating wealth and would be a good vehicle for... 

EPP advocates for real estate investment policy in Poland
EPP's flagship-centre Galeria Mlociny

L2D commits to cutting its carbon emissions

By: Simone Liedtke     15th November 2019 With a vision to be the leading South African precinct focused retail-centred real estate investment trust, Liberty Two Degrees (L2D) has made commitments to changing some of its business operations that will support accelerated and positive changes by reducing carbon emissions, water use and... 

Modular installation systems fitted in abattoir

By: Darren Parker     15th November 2019 Multinational construction services company Hilti designed and supplied the modular installation systems to support wet services for chicken producer Early Bird Farms, in Olifantsfontein. Early Bird Farms has been refurbishing and refitting its operations as part of Project Phoenix, which... 

Modular installation systems fitted in abattoir
CRIZETTE VAN DEN BERGH The modular installation system is beneficial in terms of maintenance because of reduced downtime

Quality gratings can reduce maintenance and costs

By: Darren Parker     15th November 2019 Grating, stair treads, expanded metal and handrail manufacturer Vital Engineering has supplied its Vitex expanded metal range of raised expanded metal walkway gratings and the Vitex flattened range, for safety guarding applications, to various mining and process plants in the last six months. The... 

Quality gratings can reduce maintenance and costs
GRATE JOB All products supplied by Vital Engineering are produced in compliance with local and international safety standards

Rising high with rope access to replace windows

By: Darren Parker     15th November 2019 Work at height company Skyriders completed the replacement of 15 large window panes in September at the Hilton Garden Inn, in Zambia. The Hilton Garden Inn is part of luxury hotel group Hilton’s recently refurbished 20-storey mixed-use development Society Business Park, in Lusaka. 

Rising high with rope  access to replace windows
SEAL THE DEAL Finalising waterproofing on the hotel was challenging because there were no straight vertical or horizontal surfaces.

Technology huge driver for earthworks company

By: Mamaili Mamaila     15th November 2019 Amid continuous technological development, equipment must keep up with global trends, says earthworks company ICON Group MD Wayne Neary. 

Technology huge driver  for earthworks company
ENVIRONMENTALLY CONSCIOUS With tightening global emission standards, ICON Group's equipment range complies with European emission standards

Global company eyes growth in S Africa, rest of Africa

By: Mamaili Mamaila     15th November 2019 Construction connection technology supplier Peikko recently entered the South African market, offering “ground-breaking technology” to improve efficiency and boost cost savings in the construction sector. 

Global company eyes growth in S Africa, rest of Africa
LARGEST AFRICAN MALL Peikko South Africa played an integral role in the construction of Fourways Mall, which is now the largest mall in South Africa and probably Africa
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