From Creamer Media in Johannesburg, this is the Real Economy Report.
Residential property developer Tricolt and JSE-listed real estate investment trust Attacq have started building the Ellipse luxury residential high-rise, which will comprise four buildings in the Waterfall City precinct, in Midrand. Schalk Burger has the story.
The first of three phases of the mixed-use luxury development involves building two of the four high-rise buildings, and has seen 80% of the units already sold, says Tricolt CEO Tim Kloeck.
The first two towers, called Newton and Kepler, will be 10 and 11 storeys high and will be completed during the first half of 2021. The Cassini and Galileo towers will comprise the second and third development phases.
The secure precinct will have active and relaxation parks, exercise and relaxation swimming pools, a gym and an outdoor running track. It is within walking distance of the Netcare Waterfall City hospital, the Mall of Africa and Waterfall City amenities, including schools, crèches and public transport.
Kloeck details the Ellipse project and its development phases.
Tricolt CEO Tim Kloeck:
Other news making headlines –
Treasury's economic turnaround plan lacks 'inclusivity'
And, Discovery Health CEO Jonathan Broomberg unpacks the NHI
In reviewing Finance Minister Tito Mboweni’s economic growth policy paper, industry organisation, the Black Business Council says the policy is lacking in inclusivity, specific detail and ambition.
BBC president Sandile Zungu:
The recent iteration of the National Health Insurance has caused significant panic in the healthcare sector with Discovery's share price severely impacted following the tabling of the proposed NHI plans in parliament.
Discovery Health CEO Jonathan Broomberg:
That’s Creamer Media’s Real Economy Report. Join us again next week for more news and insight into South Africa’s real economy. Don’t forget to listen to the audio version of our Engineering News daily email newsletter.