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Property News

Arrowhead performs above expectations in tough interim period

By: Tasneem Bulbulia     27th May 2020 Diversified real estate investment trust Arrowhead recorded a solid performance ahead of expectations for the six months ended March 31, despite having to contend with a tough economic environment. Speaking to Engineering News on May 27, Arrowhead CEO Mark Kaplan highlighted some of the... 

Giflo celebrates ten years in the property industry

By: Simone Liedtke     26th May 2020 Property management company Giflo this week celebrates ten years in the business, during which it has grown to a full-spectrum developer of residential, hotel, retail and medical developments nationwide. During this anniversary year, which is characterised by the Covid-19 pandemic, a lot of... 

Giflo celebrates ten years in the property industry
Artist's render of Building B adjacent to Barloworld Logistics building at Giflo's Irene Link Precinct development.

Alert Level 3 might save teetering construction companies

By: Donna Slater     25th May 2020 Construction companies that are on the verge of collapse after having shuttered operations during Alert Level 4 and 5 of the national Covid-19 lockdown might now be saved with a move to Alert Level 3 when construction is permitted to resume, says Construction Covid-19 Rapid Response Task Team... 

EPP revokes paying interim dividend

By: Marleny Arnoldi     25th May 2020 In light of uncertain trading conditions and the difficulty in determining the impact of Covid-19, JSE-listed real estate investment trust EPP has decided to revoke its dividend declaration for the six months ended December 31, 2019. The Poland-focused developer initially delayed the payment of... 

Lesedi appoints new nonexecutive director

By: Donna Slater     25th May 2020 Engineering procurement and construction company Lesedi has appointed Makole Mupita as a new nonexecutive director to its board. Mupita is a chartered accountant with more than 20 years of professional experience within the financial services sector.  

M&R says order book remains healthy, despite delayed projects

By: Marleny Arnoldi     25th May 2020 JSE-listed engineering and construction group Murray & Roberts (M&R) says few of its projects have continued with little or no disruption as a result of Covid-19-related suspensions and restrictions. As a result, the company is reasonably certain that its earnings per share (EPS) for the... 

Alert Level 3 to bring relief for construction industry

By: Donna Slater     25th May 2020 KwaZulu-Natal-based construction industry representative organisation Master Builders Association KwaZulu-Natal (MBA-KZN) reports that the move to Alert Level 3 of the national Covid-19 lockdown on June 1, will bring much-needed relief for the construction industry. The move will result in the... 

NHBRC submits Covid-19 guidelines for public comment

By: Donna Slater     25th May 2020 Housing regulator, the National Home Builders Registration Council (NHBRC), has issued guidelines to deal with the management of Covid-19 in residential construction sites, for public comment. This is part of the regulator’s efforts to ensure the spread of the virus is contained and to protect... 

Atlantic Leaf directors, main shareholder in favour of Apollo buyout

By: Marleny Arnoldi     25th May 2020 JSE-listed and UK-focused real estate investment trust Atlantic Leaf Properties has entered into an implementation agreement with South Downs Investment (SDI), which intends to acquire the issued share capital of Atlantic for £152-million. This values Atlantic at a price at 80.5p, or R17.30, a... 

MBA North calls for engagement around lockdown regulations 

By: Irma Venter     22nd May 2020 The Master Builders Association (MBA) North is calling on government to “proactively engage” with the construction industry to firm up the lockdown regulations relating to the industry as quickly as possible.  MBA North executive director Mohau Mphomela says that certainty will help the industry... 

MBA North calls for engagement around lockdown regulations

UIF/TERS claims leading to 'enormous anger', says Master Builders’ WCape 

By: Irma Venter     22nd May 2020 The Master Builders’ Association Western Cape (MBAWC) says it is “cautiously confident” that the construction industry is ready to return to work safely, and maintains that the longer the industry remains dormant, the greater the financial losses its members will need to bear.  These losses... 

UIF/TERS claims leading to 'enormous anger', says Master Builders’ WCape

Construction sector survival requires fresh approach

By: Mamaili Mamaila     22nd May 2020 The survival of the construction industry will depend on the willingness and ability of individuals and organisations to adapt to a new way of working, as well government’s commitment to address the threats highlighted by the sector, University of Pretoria (UP) Graduate School of Technology... 

Construction sector survival requires fresh approach
DECISIVE ACTION For the construction industry to thrive, opportunism will need to be dealt with immediately and decisively

Council accelerates online services amid lockdown

By: Mamaili Mamaila     22nd May 2020 The Covid-19 pandemic has forced home building industry regulator the National Home Builders Registration Council (NHBRC) to review its business operations by fast-tracking its online service offering following the national lockdown. 

Council accelerates online services  amid lockdown
OTSILE MASENG Covid-19 and subsequent economic downgrades by rating agencies will result in a sharp decline in domestic demand for residential properties

Built-environment growth a focus for regulator

By: Mamaili Mamaila     22nd May 2020 The National Regulator for Compulsory Specifications (NRCS) has its sights set on accelerating growth in and strengthening its partnerships with the construction sector. 

Built-environment growth a focus for regulator
TOWING THE LINE The National Regulator for Compulsory Specifications’ National Building Regulations division assists with the upkeep of the National Building Regulations and Building Standards Act

Expert enhances skills

By: Mamaili Mamaila     22nd May 2020 Demolition expert Jet Demolition has made a significant investment in developing and retaining an exclusive skills base through the retention of full-time, long-term employees. 

Expert enhances skills
KIND OF A BIG DEAL The Bank of Lisbon building implosion on November 24 2019 is the tallest reinforced concrete-frame building ever imploded by Jet Demolition

More to concrete parking lots than meets the eye

By: Mamaili Mamaila     22nd May 2020 Concrete offers several major advantages when building parking areas, says industry body The Concrete Institute (TCI) MD Bryan Perrie. 

More to concrete parking lots than meets the eye
DIG A LITTLE DEEPER The environmental aspects of concrete parking lots, should not be overlooked

System gaining traction in building conversion projects

By: Mamaili Mamaila     22nd May 2020 Alternative building technology solutions provider SanteQ Liteweight Building Technology’s bespoke Plaswall building technology provides for simple and rapid installation using unsophisticated skills. 

System gaining traction in building conversion projects
BACK TO THE WALL SanteQ's walling systems use between 80% and 90% recycled and waste materials

Stagnating economy sees poor ‘running out of options’ in residential rental market

By: Simone Liedtke     20th May 2020 Economic growth never recovered to the rates prior to the global financial crisis (GFC) in 2008/9, the stagnation of which appears to have been exacting a bigger toll on the poor over the last five years, says financial services provider First National Bank (FNB). In its property insights brief... 

L2D says pandemic impacting on occupancy rates

By: Simone Liedtke     20th May 2020 Rental income for real estate investment trust (Reit) Liberty 2 Degrees (L2D) for the quarter ended March 31 has been largely in line with expectations, but Covid-19-related restrictions started to impact on the hotel operations’ occupancy rates in March. In addition, there were also some delays... 

Indluplace reports better-than-expected revenue collection

By: Marleny Arnoldi     20th May 2020 JSE-listed real estate investment trust Indluplace says its occupancy rate going into the lockdown was at its best levels for years, with vacancies having improved to 5.5% in the six months ended March 31, compared with a vacancy rate of 8.5% in the six months ended March 31, 2019. However,... 

Indluplace reports better-than-expected revenue collection
Indluplace CEO Carel de Wit

Construction industry operating at 10%, 15% of capacity, says Metelerkamp 

By: Irma Venter     19th May 2020 Despite certain sections of the construction industry returning to work under Alert Level 4 of the national lockdown, the industry is currently only working at between 10% and 15% of its capacity, says Industry Insight senior economist David Metelerkamp. Construction on public projects, such as... 

Construction industry operating at 10%, 15% of capacity, says Metelerkamp

Growthpoint advises of significant impact to South African retail portfolio

By: Marleny Arnoldi     19th May 2020 JSE-listed real estate investment trust Growthpoint Properties says its retail portfolio has been hit hardest during the Covid-19 pandemic. Since South Africa declared a Level 5 lockdown, the company has been grading the retailers at its properties according to the severity of the impact of the... 

Growthpoint advises of significant impact to South African retail portfolio
Growthpoint group CEO Norbert Sasse

WSP says light industrial property has room for innovation

By: Marleny Arnoldi     18th May 2020 Professional services firm WSP says it is not all doom and gloom in the property sector, especially not in the light industrial property space. The firm adds that it is often darkest before the light and some of the most difficult periods have led to great innovations, new approaches and... 

Calgro says generates sufficient cash to weather Covid-19, settle some debt

By: Marleny Arnoldi     18th May 2020 Property investment company Calgro M3 CEO Wikus Lategan says the company has made good progress on turning the business around, with cash generated from operations having increasing by 55.6% year-on-year to R464-million in the year ended February 29. This helped the company settle R52-million... 

Recession expected to have severe impact on tenant payment performance

By: Simone Liedtke     11th May 2020 Financial services provider First National Bank (FNB) expects “a very significant” deterioration in residential rental tenant payment performance for this year, with a recession more severe than that of 2008/9 expected for this year. While the tenant performance deterioration in response to an... 

Equites grew distributable earnings by 9.4% before Covid-19 hit locally

By: Marleny Arnoldi     5th May 2020 JSE-listed real estate investment trust (Reit) Equites Property Fund in the year ended February 29 increased its distributions a share by 9.4% year-on-year to 151.39c apiece. The company attributes the growth mainly to a healthy 6.9% growth in like-for-like net rental income in the year under... 

Equites grew distributable earnings by 9.4% before Covid-19 hit locally
Photo by Creamer Media's Donna Slater
Equites Property Fund CEO Andrea Taverna-Turisan

Redefine expects full-year results to show a ‘tale of two halves’ 

By: Simone Liedtke     4th May 2020 With the Covid-19 virus and related uncertainty continuing to weigh on businesses, real estate investment trust (Reit) Redefine Properties has announced a 32% fall in its distributable income per share for the six months ended February 29, to 33.46c from 49.19c in the prior comparable period.... 

Redefine expects full-year results to show a ‘tale of two halves’
Redefine Properties' management discusses their results and what can be expected in the year ahead during a webinar on May 4. Video: Creamer Media's Kutlwano Matlala. Editing: Creamer Media's Nicholas Boyd.

SA Reit appoints Solomon as inaugural CEO

By: Marleny Arnoldi     4th May 2020 South African Real Estate Investment Trust Association (SA Reit) has appointed Joanne Solomon as its first CEO, effective May 1. The association represents publicly traded Reits in South Africa, which have a total market capitalisation of R300-billion.  

Epping Property bemoans industrial business’ hardships

By: Marleny Arnoldi     30th April 2020 Industrial property specialist Epping Property says the Covid-19 "hurricane" has brought about a whirlwind of uncertainty for businesses, but while a lot of discussion has taken place on the lockdown’s impact on shopping malls, listed property funds and major retailers, not much has been said for... 

Property Group extends relief assistance for retail tenants

By: Simone Liedtke     28th April 2020 The Property Industry Group (PI Group) has increased and extended its assistance and relief guideline for retail tenants. The PI Group launched an initial guideline for assistance and relief for retail tenants on April 7 and, in response to the extended lockdown, has now announced new guidelines... 

Property Group extends relief assistance for retail tenants
PI Group spokesperson Estienne de Klerk

Eskom says all repurposing options on table for Komati, Hendrina and Grootvlei 

By: Terence Creamer     28th April 2020 State-owned power utility Eskom insists that all options are on the table as it considers proposals for the repurposing of three coal-fired power stations – Komati, Hendrina and Grootvlei – that are scheduled to cease producing electricity between 2022 and 2026. The utility issued an expression... 

Eskom says all repurposing options on table for Komati, Hendrina and Grootvlei
Komati

Indluplace withdraws guidance for 2020 financial year

By: Simone Liedtke     23rd April 2020 JSE-listed residential real estate investment trust Indluplace says its tenants have “reacted positively” to the reality that the extended lockdown in South Africa has brought. Considering that families are now required to stay in their units for extended periods of time, the company on April 23... 

Octodec withdraws dividend for now

By: Marleny Arnoldi     22nd April 2020 JSE-listed real estate investment trust Octodec Investments announced a satisfactory set of results for the six months ended February 29, against a rapidly degrading environment. The company reported lower distributable earnings of 97c apiece, compared with 101.7c apiece in the six months ended... 

JPOMA calls on City of Johannesburg for relief plan, reduction in utility charges

By: Tasneem Bulbulia     21st April 2020 With an understanding of the economic, social and financial struggles of everyone amid the Covid-19 pandemic, the Johannesburg Property Owners & Managers Association (JPOMA) on April 6 submitted a relief proposal to City of Johannesburg mayor Geoffrey Makhubo. It suggested the need for a balanced... 

Redefine founder Marc Wainer dies at 71

By: Simone Liedtke     21st April 2020 Real estate investment trust (Reit) Redefine Properties founder, former chairperson and CEO Marc Wainer passed away on April 20, at the age of 71. Wainer retired from the company at the end of August last year. 

Redefine founder Marc Wainer dies at 71
Marc Wainer

SAHIF pledges 50 temporary housing structures in aid of Covid-19

By: Tasneem Bulbulia     20th April 2020 The South African Housing and Infrastructure Fund (SAHIF) has pledged to provide 50 temporary housing structures that will provide shelter for 200 South Africans in need, following government’s appeal business leaders to assist in creating solutions in aid of the Covid-19 pandemic. This... 

SAHIF pledges 50 temporary housing structures in aid of Covid-19
SAHIF donates houses

Cape Town extends deadline for carbon-neutral development proposals 

By: Irma Venter     16th April 2020 Given the current lockdown to curb the spread of Covid-19, the City of Cape Town has extended the date for submissions for four underutilised city-owned sites that have been made available for carbon-neutral, mixed-use development. The four sites are available to interested and affected parties,... 

Cape Town extends deadline for carbon-neutral development proposals
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