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Property News

Arrowhead vacancies improve despite challenging economic environment

By: Anine Kilian     23rd May 2018 South African focused real estate investment trust Arrowhead achieved a strong operating performance in the six months ended March 31, despite macroeconomic challenges. Speaking to Engineering News Online COO Riaz Kader on Wednesday said that although the company was operating in a very... 

Dipula reports solid H1 financial results, expects FY dividend growth

By: Marleny Arnoldi     21st May 2018 Real estate investment trust (Reit) Dipula Income Fund achieved an 11.5% year-on-year increase in distributable earnings to R216.4-million for the six months to February 28.  

Texton says concludes deal on acquisition of a portfolio of logistics properties

By: African News Agency      21st May 2018 Property investment fund Texton said on Monday it had concluded agreements with Equites Property Fund and various wholly-owned subsidiaries for the acquisition of a portfolio of logistics properties for an aggregate purchase consideration of R205.3-million. Texton said the acquisition was... 

Liberty Two Degrees to convert to Reit, acquires further assets

By: Marleny Arnoldi     18th May 2018 Liberty Two Degrees, a property portfolio established by financial services and holdings company Liberty Group, on Friday announced its intention to convert to a corporate real estate investment trust (Reit) and list on the JSE as a new company (NewCo).  

Construction starts on mixed-use precinct, Barloworld Logistics HQ in Irene

By: Marleny Arnoldi     17th May 2018 Property developers Abland, Giflo Develoments and SOM have started work on a new mixed-use precinct called Irene Boulevard, in the south of Pretoria. This site will become the new four-star rated green headquarters of industrial company Barloworld Logistics, which will be vacating its offices in... 

Construction starts on mixed-use precinct, Barloworld Logistics HQ in Irene

Technical construction used to change historical building to modern art museum 

17th May 2018 The Zeitz Museum of Contemporary Art Africa, built inside of the old grain silo at the V&A Waterfront, in Cape Town, required specialist concretes and technical formwork to realise the vision of the architect Thomas Heatherwick. Schalk Burger has the details. Also making headlines, South African... 

Technical construction used to change historical building to modern art museum
Technical construction used to change historical building to modern art museum

R3bn Rosslyn Hub to create 160 000 jobs

By: Nadine James     16th May 2018 The R3-billion mixed-use Rosslyn Hub development was launched at the African Smart Cities Summit, co-located with the African Construction and Totally Concrete Expo, at the Gallagher Convention Centre, in Johannesburg, on Wednesday. The Rosslyn Hub is a crucial step towards the creation of the... 

Gemgrow positive it will deliver on B share guidance for FY18

By: Marleny Arnoldi     16th May 2018 JSE-listed real estate investment trust Gemgrow Properties on Wednesday reported a dividend of 26.09c per A share and 19.34c per B share for the three months ended March 31 - 52.18c per A share and 38.52c per B share for the six months ended March 31.  

Rebosis concludes agreement to sell six office buildings for R888m

By: Simone Liedtke     15th May 2018 Rebosis Property Fund has, through its Ascension Properties subsidiary, concluded an agreement with Boxwood Property Investment Fund for the sale of six office buildings for R888-million. The properties include 14 Long Street, 45 on Castle, Bergstan Building, Matrix Building, Nedbank Building and... 

Calgro M3 confident of securing longer-term working capital

By: Marleny Arnoldi     14th May 2018 Property developer Calgro M3 reported a worse-than-expected financial performance for the year ended February 28, owing to challenging political and associated economic conditions, as well as delays in raising working capital.  

Calgro M3 confident of securing longer-term working capital
Photo by Creamer Media
Calgro CEO Wikus Lategan

Balwin expects sales to grow in FY19, after zoning delays hampered its FY18 performance

By: Marleny Arnoldi     14th May 2018 Housing development company Balwin Properties’ performance for the financial year ending February 28 was largely impacted on by delays in construction at its five latest developments.  

Balwin expects sales to grow in FY19, after zoning delays hampered its FY18 performance
Balwin Properties CEO Steve Brookes

Atlantis SEZ designation to be completed in two months

By: Marleny Arnoldi     14th May 2018 The process of designating the Atlantis Special Economic Zone (SEZ) is to be completed within two months, says Trade and Industry Deputy Minister Bulelani Magwanishe.  

Atlantis SEZ designation to be completed in two months
Trade and Industry Deputy Minister Bulelani Magwanishe at a business engagement session

R10bn budget slash for human settlements dept 

By: News24Wire      11th May 2018 The Department of Human Settlements is on the receiving end of a R10-billion budget cut over the medium term period. This, while the housing backlog stands at an estimated 2.1-million. Addressing a media briefing ahead of her budget vote speech, Human Settlements Minister Nomaindia Mfeketo said:... 

Equites reports strong FY18 distribution growth

By: Marleny Arnoldi     10th May 2018 Real estate investment trust (Reit) Equites Property achieved 12.2% year-on-year growth in distributions a share to R1.23 for the financial year ended February 28 – cementing the company’s record of strong distribution that exceeds full year guidance.  

Equites reports strong FY18 distribution growth
Equites Property CEO Andrea Taverna-Turisan

Vukile grows Spanish retail investment to near €400m

By: Simone Liedtke     10th May 2018 Vukile Property Fund has, through its 98.7%-owned Spanish real estate investment trust (Reit) subsidiary Castellana Properties, acquired Habaneras Shopping Centre, its first shopping centre in Spain, for €80.6-million. The easily accessible open-air shopping centre is in Torrevieja, in the... 

Vukile grows Spanish retail investment to near €400m
Habaneras Shopping Centre, in Spain (Exterior)

Long4Life declares maiden dividend

By: Simone Liedtke     9th May 2018 Long4Life, which has raised R2-billion in capital since its listing on the JSE in April last year, has declared a maiden dividend of 5.4c a share for the 11 months to February 28. The company on Wednesday reported that it had, in the period under review, acquired Sportsmans Warehouse, Outdoor... 

Indluplace portfolio grows 82% y/y, despite challenging environment

By: Simone Liedtke     9th May 2018 Despite having faced a challenging operating environment in 2017, residential-focused real estate investment trust (Reit) Indluplace has grown the value of its portfolio by 82% year-on-year to R4-billion at the end of the six months ended March 31. This follows the Buffet portfolio acquisition,... 

Growthpoint Investec African Properties commences operations

By: Anine Kilian     9th May 2018 Pan-African real estate investment business Growthpoint Investec African Properties (GIAP), a partnership between Growthpoint Properties, Investec Asset Management and the International Finance Corporation, has started operations. GIAP has secured capital commitments in excess of $212-million... 

Hyprop raises R782m in oversubscribed bookbuild

By: Simone Liedtke     8th May 2018 JSE-listed Hyprop on Tuesday raised R782.6-million in an accelerated bookbuild. The company had initially sought to raise about R600-million to reduce its debt. 

Rebosis posts solid interim results

By: Simone Liedtke     8th May 2018 JSE-listed Rebosis on Tuesday said its retail and office portfolio delivered 6.8% net property income growth in the six months ended February 26, 2018, with positive rent uplift on renewals that indicate good property fundamentals. The company’s value in the underlying portfolio grew by 17.9% to... 

Emira grows its US footprint

By: Simone Liedtke     8th May 2018 Real estate investment trust (Reit) Emira Property Fund has invested in its fourth shopping centre in the US. The company has undertaken its fourth equity deal in the US with its in-country partner, the Rainier Group of Companies, by acquiring 49% of the equity of Indiana-based Stony Creek... 

Redefine maintains full-year distribution growth guidance at 5%

By: Marleny Arnoldi     7th May 2018 JSE-listed real estate investment trust Redefine Properties has declared a distribution of 47.3c a share for the six months ended February 28, a 5.5% improvement on the 44.8c a share for the comparable period in 2017, maintaining the company’s full-year growth guidance.  

Redefine maintains full-year distribution growth guidance at 5%
Redefine Properties CEO Andrew Konig

Redefine, Abland launch mixed-use Loftus Park precinct

By: Marleny Arnoldi     4th May 2018 City of Tshwane executive mayor Solly Msimanga this week officially launched Loftus Park – a new mixed-use green precinct, in Pretoria.  

Redefine, Abland launch mixed-use Loftus Park precinct
Loftus Park ribbon-cutting ceremony

DTI completes R50m Phase 1 upgrade of Phuthaditjhaba Industrial Park

By: Simone Liedtke     3rd May 2018 The Department of Trade and Industry (DTI) has completed the R50-million Phase 1 revitalisation of the Phuthaditjhaba Industrial Park in the Free State. The revitalisation comprised the upgrading of the security infrastructure including fencing, street lighting, installation of boom gates,... 

DTI completes R50m Phase 1 upgrade of Phuthaditjhaba Industrial Park
Official representatives of various stakeholders were at the industrial park on Thursday for the official handover of the site to the Free State Development Corporation

WSU awards Sisa Ngebulana honorary doctoral degree in commerce

By: Simone Liedtke     2nd May 2018 South African property developer and entrepreneur Sisa Ngebulana has been recognised for his contribution to society and the national business landscape with an honorary doctoral degree in commerce, which was bestowed on him by Walter Sisulu University (WSU) at a graduation ceremony in his... 

WSU awards Sisa Ngebulana honorary doctoral degree in commerce
South African property developer and entrepreneur Sisa Ngebulana has been awarded with an honorary doctoral degree in commerce

MAS acquires Romanian shopping centre

By: Simone Liedtke     30th April 2018 In line with the group’s strategy of investing across the broader European market, MAS Real Estate will acquire the Bucharest-based Militari shopping centre for €95-million. The property will be acquired from MD CE Holdings and Atrium Turkey Samsun, two wholly-owned subsidiaries of Atrium... 

MAS acquires Romanian shopping centre

Concor targets larger share of infrastructure market as part of big growth push

By: Terence Creamer     30th April 2018 Wholly black-owned construction group Concor, which marked its first year of operations in April, is aiming to materially increase its share of the public infrastructure market as part of an ambitious plan to increase its order book to R10-billion by 2020. The company, which has a Level 1... 

Concor targets larger share of infrastructure market as part of big growth push
Concor CEO Riaz Saloojee

Growthpoint Properties issues maiden $425m eurobond, lists on JSE green bond segment

By: Marleny Arnoldi     25th April 2018 JSE-listed real estate investment trust Growthpoint Properties has successfully priced its inaugural US dollar-dominated eurobond, the proceeds of which will be used to fund its expansion in Central and Eastern Europe (CEE).  

Growthpoint Properties issues maiden $425m eurobond, lists on JSE green bond segment
Growthpoint Properties CEO Norbert Sasse

City of Joburg’s draft Inclusionary Housing Policy unworkable – Sapoa 

By: Nadine James     24th April 2018 The City of Johannesburg’s draft Inclusionary Housing Policy, which is currently out for public comment, is not a workable solution and may, in its current form, deter the private sector from developing residential units, says the South African Property Owners’ Association (Sapoa). Sapoa CEO Neil... 

Hyprop FD resigns

By: Anine Kilian     23rd April 2018 Laurence Cohen has resigned as JSE-listed Hyprop’s FD, effective August 1, to pursue personal interests. The appointment of a new FD will be announced in due course. 

Rental income growth pressure, higher finance charges dent Octodec’s H1 results

By: Anine Kilian     23rd April 2018 Pressure on rental income growth, the lag effect of the let-up period at recent developments and higher finance charges, negatively impacted on JSE-listed real estate investment trust Octodec’s results for the six months ended February 28. “The political and economic uncertainty experienced... 

Tower Property’s refurbished, renamed Cape Quarter Plaza set to launch end-April

By: Simone Liedtke     23rd April 2018 The refurbishment of the Cape Quarter Plaza, which will be renamed the Old Cape Quarter upon completion, will be launched by Tower Property Fund’s subsidiary Cape Quarter company at the end of April. The Cape Quarter precinct is situated in De Waterkant, in Cape Town, and is a highly desirable... 

Atterbury completes Trumali House refurbishment, signs Hungry Lion

By: Marleny Arnoldi     19th April 2018 Property developer Atterbury has completed the refurbishment of Trumali House, in Stellenbosch, into modern multitenant A-grade offices with 3 500 m2 of space.  

Atterbury completes Trumali House refurbishment, signs Hungry Lion
Atterbury Western Cape development manager Gerrit van den Berg

Rebosis postpones H1 results, CEO resigns

By: Reuters     18th April 2018 South Africa's Rebosis Property Fund said on Wednesday its CEO Andile Mazwai had resigned and the firm would postpone the release of its interim financial results, sending shares down more than 10%. The company said in a statement its current executive deputy dhairperson Sisi Ngebulana would be... 

R300m social housing project launched in Tshwane

By: Simone Liedtke     17th April 2018 As part of plans to meet the growing demand for housing in Gauteng, Human Settlements Minister Nomaindiya Mfeketo on Tuesday launched the R300-million Thembelihle Village in Tshwane. Completed in November 2017, with first occupation in February 2018, the project provides safe housing for families... 

R300m social housing project launched in Tshwane
Photo by Simone Liedtke
Human Settlements Minister Nomaindiya Mfeketo on Tuesday launched the R300-million Thembelihle Village in Tshwane

StayEasy Maputo opens in Mozambique

By: Simone Liedtke     16th April 2018 Hotel, gaming and entertainment group Tsogo Sun on Monday opened its newest offshore hotel property, StayEasy Maputo, in Mozambique. This addition to the Tsogo Sun Hotels portfolio will bring the group’s number of properties outside of South Africa to 11. This is the group’s third hotel in... 

StayEasy Maputo opens in Mozambique
Tsogo Sun on Monday opened its newest offshore hotel property, StayEasy Maputo, in Mozambique

Fairvest raises R250m in new equity

By: Anine Kilian     13th April 2018 JSE-listed real estate investment trust Fairvest has raised R250-million in new equity at R2.20 a share to finance the company’s Barra Precinct acquisition, which was announced in December. The transaction was heavily oversubscribed and the company increased the amount raised owing to strong... 

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