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Property News

Construction starts on new R500m office tower development

By: Mia Breytenbach     13th October 2017 Local property developer Abland and joint venture partners Ellerine Brothers have started development of the 35 Lower Long office tower in Cape Town, in the Western Cape. The four-star green building will be situated on Lower Long Street, in the City Bowl. The 24-storey office tower will replace... 

Equites’ logistics focus proves resilient in H1

By: Mia Breytenbach     12th October 2017 JSE-listed specialist logistics property developer and landlord Equites Property Fund’s distributions a share for the six months to August 31, increased by 12.02% year-on-year to 60.98c, which is at the upper end of the company’s guidance of 10% to 12% distribution growth for the 2018 financial... 

Equites’ logistics focus proves resilient in H1

Echo Polska acquires Polish retail property portfolio

By: Schalk Burger     11th October 2017 JSE-listed Echo Polska Properties has acquired a portfolio of 12 retail properties – of which eight are shopping centres and four are retail parks, with more than 620 stores – across Poland. The portfolio has an aggregate gross lettable area (GLA) of about 450 000 m2 – doubling the GLA of Echo... 

Durban Point developer sues water sports clubs for millions in damages

By: News24Wire      9th October 2017 The Durban Point Development Company (DPDC), which has gone to court to evict two water sports clubs accusing them of standing in the way of a R35-billion upgrade of the harbour-mouth area near Vetch's beach, has turned up the legal heat and issued a summons for "special" damages of more than... 

Geospatial products distributor launches world’s smallest image laser scanner locally

By: Mia Breytenbach     6th October 2017 Geospatial products distributor Aciel Geomatics has officially locally launched the Leica BLK360 imaging laser scanner – the world’s smallest and lightest image laser scanner. Aciel Geomatics, the appointed distributor for Switzerland-based Leica Geosystems AG, launched the scanner at the... 

Geospatial products distributor launches  world’s smallest image laser scanner locally
EASE OF USE The integration of the Leica BLK360 laser image scanner and Autodesk software streamlines the reality capture process

Transforming V&A’s grain silos into Africa’s largest contemporary art museum

By: Kim Cloete     6th October 2017 After four years of cutting, carving and engineering what at times seemed near impossible, the V&A Waterfront’s giant, historic grain silo has been transformed into the world’s largest museum dedicated to contemporary art from Africa. In an architectural and engineering feat, the nearly... 

Transforming V&A’s grain silos into Africa’s largest contemporary art museum

Residents furious as City of Cape Town awards controversial R1bn prime land tender 

By: News24Wire      5th October 2017 The City of Cape Town has awarded a controversial R1-billion tender to sell and transform stretches of its prime land between Clifton and Camps Bay - a move which residents feel will push up costs and start squeezing out those who can no longer afford to live there. The Clifton tender, which... 

Hyatt to double its Africa presence, open six hotels by 2020

By: Reuters     3rd October 2017 Hyatt Hotels & Resorts will open six new hotels in Africa by 2020, the company said in a news release on Tuesday, underscoring the growth of business and international travel on the continent. The company will open its first hotels in Algeria, Cameroon, Ethiopia, and Senegal and open new hotels... 

Sun International reviews Panama and Colombia operations

By: Reuters     2nd October 2017 South Africa's Sun International is looking to sell certain assets it has in the Ocean Sun Casino in Panama and is planning to exit the Sun Nao Casino in Colombia, the casino and hotel operator's chief executive said on Monday. Stiff competition, fewer available casino licences and consumers... 

City of Johannesburg paves way for inner city housing revitalisation 

By: African News Agency      2nd October 2017 The Johannesburg city council has approved a plan to tackle the housing problem within the inner city and creating safe, clean, and connected communities with access to economic opportunities, mayor Herman Mashaba said on Sunday. The council had made 12 city-owned properties available for... 

Growthpoint launches South Africa’s first dual-certified property portfolio

By: Mia Breytenbach     28th September 2017 JSE-listed real estate investment trust (Reit) Growthpoint Properties has launched the first and only property portfolio in South Africa to be highly rated by the South African Property Owners Association (Sapoa) and the Green Building Council South Africa (GBCSA). This premier portfolio, named... 

Growthpoint launches South Africa’s first dual-certified property portfolio
Growthpoint Properties office division director Rudolf Pienaar

New chillers, heat pumps launch next month

By: Nadine James     22nd September 2017 Multinational heating, ventilation and air-conditioning (HVAC) equipment producer Johnson Controls is launching its Amichi series of chillers and heat pumps for the South African market on October 1. Johnson Controls building efficiency Africa GM Neil Cameron explains that the series has... 

New chillers, heat pumps launch next month
NEIL CAMERON The main driver of the mid-capacity sector is the type of construction currently favoured by South African developers

Product presentation showcases VRF technology

By: Nadine James     22nd September 2017 Last month, heating, ventilation and air conditioning (HVAC) product distributor AHI Carrier South Africa – the official distributor for Japanese air-conditioning manufacturer Toshiba – hosted a product presentation and training event for the Toshiba SHRM-e variable refrigerant flow (VRF) system.... 

Product presentation  showcases VRF technology
NEW & IMPROVED The SHRM-e series variable refrigerant flow system has various new features and improves on the shortcomings of previous systems

Human Settlements department dealing with title deed backlog, rapid urbanising trend

By: Anine Kilian     21st September 2017 Clearing the backlog of about 800 000 title deeds is a major focus point for the Department of Human Settlements (DHS), Minister Lindiwe Sisulu said on Thursday. Addressing delegates at the 2017 National Human Settlements Development Summit, in Ekurhuleni, she stressed the importance of dealing... 

Human Settlements department dealing with title deed backlog, rapid urbanising trend
Photo by Duane Daws
Human Settlements Minister Lindiwe Sisulu

Grit delivers 2.7% increase in FY17 distribution

By: Natasha Odendaal     21st September 2017 Mauritius- and Johannesburg-listed Grit Real Estate Income Group on Thursday declared a distribution a share of $0.12 for the year ended June 30, a 2.7% increase on the prior year on the back of strong financial results. The seventh consecutive dividend comprised an interim dividend of $0.06... 

Gauteng govt to launch six megahousing projects in Ekurhuleni in the next 5 years

By: Anine Kilian     21st September 2017 In a move to address the housing backlog across Gauteng, the provincial government will launch two new megahousing projects a month from now until February 2018, revealed Gauteng Human Settlements MEC Paul Mashatile. Speaking at the 2017 National Human Settlements Development Summit, in... 

Gauteng govt to launch six megahousing projects in Ekurhuleni in the next 5 years
Gauteng Human Settlements MEC Paul Mashatile

Imbalance in South African society driven by spatial inequality  

By: Anine Kilian     19th September 2017 South Africa is fast approaching a perfect inequality rating on the Gini coefficient, University of the Witwatersrand School of Governance head Professor David Everatt said at the ninth Chartered Secretaries Southern Africa Corporate Governance conference, in Johannesburg, on Tuesday. The Gini... 

Building prospects in doldrums despite slight confidence uptick

By: News24Wire      19th September 2017 Sixty percent of respondents in a recent survey indicated that they are not happy with current business conditions. After declining by 11 points in the second quarter of 2017, the FNB/BER Building Confidence Index improved by 3 index points to 35 in the third quarter of the year. The uptick was... 

PSG Group invests $50m in local property business Amdec

By: Reuters     19th September 2017 South Africa's PSG Group spent R675-million ($50.77-million) for a 50% stake in Evergreen Lifestyle, part of local property business Amdec, as it eyes expansion into the lucrative retirement property sector, the companies said on Tuesday. "Our investment mandate is to invest in and work with... 

Encha appoints new chief technology officer

By: Samantha Herbst     18th September 2017 Information and communication technology professional Andy Brauer is the new chief technology officer of investment company Encha – an appointment in line with the company’s strategy to attract partners who are subject-matter domain experts with relevant industry-specific experience and... 

World’s largest museum dedicated to African art opens in Cape Town this week

By: Kim Cloete     18th September 2017 The world’s largest museum dedicated to contemporary art from Africa and its diaspora has been unveiled at the V&A Waterfront in Cape Town, and will officially open its doors to the public on Friday. The Zeitz Museum of Contemporary Art Africa (Zeitz MOCAA) is the V&A Waterfront’s R500-million... 

World’s largest museum dedicated to African art opens in Cape Town this week

NHBRC appoints new CEO

     15th September 2017 The National Home Builders Registration Council (NHBRC) has appointed Mziwonke Dlabantu CEO, effective October 1. He brings more than 20 years of public service experience to the NHBRC with a wealth of expertise in human settlements sector experience, as well as strategic and financial management. 

CoJ to implement new town planning and land use scheme

By: Schalk Burger     15th September 2017 The City of Johannesburg (CoJ) on Friday said it was developing a new Land Use Scheme to replace the current version, which had been in use since 1970. Members of the public have until October 13 to submit their comments on the draft scheme when the 60-day public consultation period comes to an end. 

Legal fight over R4.5bn logistics park in Durban

By: News24Wire      15th September 2017 Residents of Clairwood are expected to turn out in their numbers at the KwaZulu-Natal High Court in Durban on Friday when their lawyers challenge the provincial government’s approval of a massive R4.5-billion logistics park at the old Clairwood Racecourse - once the only green lung in the area.... 

WBHO upbeat about UK market potential following Byrne acquisition

By: Irma Venter     15th September 2017 A problematic Australian contract and a payment in accordance with a settlement agreement between government and the local construction sector following an investigation into collusion have seen profits slip at JSE-listed construction group Wilson Bayly Holmes-Ovcon (WBHO). The group earlier this... 

New retail development to open in Walvis Bay

By: Mia Breytenbach     15th September 2017 The new R500-million Dunes Mall in Walvis Bay, Namibia, is in the final stages of completion, with its doors set to open next month. The mall is developed by South African property developer and investor Atterbury, in partnership with local developers Tradehold. 

New retail development  to open in Walvis Bay
SIZING UP The new 27 500 m2 Dunes Mall in Walvis Bay, will be the largest in the area and the second largest in Namibia

Cloud-based security solutions to be part of building management systems

By: Schalk Burger     15th September 2017 Building security solutions will converge with information technology (IT) infrastructure, enterprise applications and external systems, becoming an Internet of Things to deliver more than perimeter surveillance, authentication and protection of assets and people, says converged IT systems firm... 

Barloworld celebrates 90-year Caterpillar milestone

By: Dylan Slater     15th September 2017 Barloworld Equipment, which is the distributor and service supplier of US earthmoving equipment manufacturer Caterpillar, celebrated a 90-year partnership with Caterpillar in South Africa at the end of last month.  

Cape Town identifies inner city housing sites for lower income families

By: News24Wire      14th September 2017 The City of Cape Town identified 11 central sites it owns that would be set aside for affordable, social and transitional housing initiatives. Mayor Patricia de Lille on Wednesday said the goal was to reverse the effects of apartheid spatial planning, forced removals and gentrification. 

Attacq FY17 HEPS increase 92% y/y

By: Anine Kilian     12th September 2017 JSE-listed Attacq’s diluted headline earnings per share increased by 92% to 22.8c for the year ended June 30, while vacancies across its retail and office portfolios rose. Basic earnings per share increased to 23c from 12c, while profit for the year fell by 56.7% to R600-million. 

Low-skilled labour plan could provide solution to unemployment challenge

By: David Oliveira     8th September 2017 Industrial research and development engineering company Greville Wood Developments (GWD) is awaiting funding to recreate a 1986 manufacturing proof study and farming plan, called the Warrenton Plan, which could collectively create about 2 300 jobs in Warrenton, in the Northern Cape, then rolled... 

Partnerships remain key to social housing development

By: Natasha Odendaal     7th September 2017 With access to affordable housing a growing problem in South Africa, the Department of Human Settlements (DHS) on Thursday called on the private sector to partner with government to come up with solutions and to “play their part” in eliminating social housing challenges. Speaking at the ninth... 

Stor-Age enters UK market with R1.3bn acquisition

By: Creamer Media Reporter      5th September 2017 JSE-listed real estate investment trust Stor-Age will acquire a 97.3% interest in UK self storage operator Storage King for R1.3-billion. The acquisition is in line with Stor-Age’s stated strategy of targeting international self storage markets with attractive growth potential to complement its... 

Fairvest FY17 distributions up 10% y/y

By: Anine Kilian     5th September 2017 JSE-listed real estate investment trust Fairvest Property has grown its distributions by 10.04% year-on-year to 18.33c a share for the financial year ended June 30, exceeding market guidance. Distribution growth has been higher than 10% for the fourth consecutive year.  

WBHO sees challenging Australian project, settlement agreement sip from the profit cup

By: Irma Venter     5th September 2017 A problematic Australian contract and a payment in accordance with a settlement agreement between government and the local construction sector following an investigation into collusion have seen profits slip at JSE-listed construction group Wilson Bayly Holmes-Ovcon (WBHO). The group on Tuesday... 

WBHO sees challenging Australian project, settlement agreement sip from the profit cup
Photo by Duane Daws
WBHO CEO Louwtjie Nel

Texton geared for tough year ahead

By: Natasha Odendaal     4th September 2017 JSE-listed Texton Property Fund is battening down the hatches and tightening its defensive strategy in a tough market that is only set to get tougher. Despite increasing uncertainty facing both the South African and UK markets, the real estate investment trust (Reit) is optimistic that it can... 

Texton geared for tough year ahead
Photo by Duane daws
Texton CEO Nosiphiwo Balfour

Texton reports marginal drop in dividends in FY17

By: Natasha Odendaal     4th September 2017 JSE-listed Texton Property Fund on Monday declared a dividend of 102.8c a share for the year ended June 30, representing a 0.8% drop on the 103.68c declared the year before. In terms of the rebased dividend a share, this represented a 6% increase on the recorded 96.99c rebased dividend a share in... 

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