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Property News

GBCSA congratulates Redefine on 40 Green Star certifications

By: Tasneem Bulbulia 17th September 2021 JSE-listed South African real estate investment trust (Reit) Redefine Properties recently certified and recertified 40 buildings in its property portfolio, under member-based organisation the Green Building Council South Africa’s (GBCSA’s) Green Star Existing Building Performance (EBP) rating... →

Competition Tribunal approves Growthpoint, Feenstra Group merger

By: Simone Liedtke 17th September 2021 The Competition Tribunal has unconditionally approved the large merger whereby Growthpoint Properties will acquire Joburg Stay from Feenstra Group. This transaction involves an internal reorganisation of the Feenstra Group. As such, the target firms are Joburg Stay, seven Gauteng student... →

Growthpoint achieves revenue growth but lower distributable income

By: Simone Liedtke 15th September 2021 JSE-listed Growthpoint Properties’ distributable income, on a per share basis, declined by 19.1% to 148.1c for the financial year ended June 30, mainly as a result of 408-million new shares having been issued in an oversubscribed equity raise of R4.3-billion in November last year. During the same... →

EPP swings to profit in H1

By: Marleny Arnoldi 15th September 2021 JSE-listed real estate investment trust (Reit) EPP has managed to grow its distributable earnings a share for the six months ended June 30 by 54% year-on-year to €0.0366. During the six months, it also added four retail parks to its portfolio. →

EPP CEO Tomasz Trzósło

Hyprop advances its strategy

By: Tasneem Bulbulia 15th September 2021 JSE-listed real estate investment trust Hyprop Investments says it has made good progress in executing its strategy for the year ended June 30. It has moved ahead on all its priorities, including strengthening the balance sheet, advancing the implementation of its non-tangible strategy with the... →

Attacq withholds dividend for the sake of Waterfall City development

By: Marleny Arnoldi 14th September 2021 JSE-listed real estate investment trust (Reit) Attacq has reported strong distributable income growth from its South African operations for the financial year ended June 30 However, group distributable income decreased by 35.9% year-on-year to 46.8c a share. →

Fairvest records strong full-year performance

By: Tasneem Bulbulia 13th September 2021 JSE-listed Fairvest Property Holdings delivered a guidance-beating 5% increase in distributions a share to shareholders of 22.06c for the financial year ended June 30. The company on September 13 noted that it had been a challenging period for retail-focused real estate investment trusts (Reits)... →

Rosebank developments require greater city involvement

8th September 2021 The Rosebank node has enjoyed much success and years of developments; however, there are a number of challenges that require further support from the City of Johannesburg to mitigate, and to bolster further developments in the area. Tasneem Bulbulia tells us more. →

Rosebank developments require greater city involvement. Photographs by John Hogg

Fortress acquires first logistics park in Romania

By: Simone Liedtke 7th September 2021 Real estate investment trust (Reit) company Fortress Reit has concluded its first logistics acquisition in Romania, after reaching an agreement with Element Industrial and Paval Holding for Eli Park 1, an A-grade industrial development, located in Buftea-Chitila. Fortress’ long-term strategy to... →

Fortress Logistics Eli Park 1

Swindon’s African Cities Insights report shows positive signs for the property sector

By: Tasneem Bulbulia 6th September 2021 Almost no commercial property sector in the world has not been impacted on by the pandemic, with many African cities struggling with high vacancy rates. There are, however, positive signs of a rebound, says commercial and industrial real estate company Swindon Property in its first 'African... →

Balwin initiates BEE deal

By: Marleny Arnoldi 6th September 2021 JSE-listed Balwin Properties has received shareholder approval for the implementation of a black economic empowerment (BEE) transaction. CEO Steve Brookes says he haS been working on a suitable empowerment transaction since the company’s listing on the JSE early in 2016, and is delighted about... →

Balwin CEO Steve Brookes

Investec inks agreement to finance two major hospitals in Ghana

By: Simone Liedtke 2nd September 2021 Investec Bank has announced the signing of a €215-million agreement to finance two major hospital projects in Ghana. The financing comprises two loans in favour of Ghana’s Ministry of Finance, with Investec having acted as sole mandated lead arranger (MLA) for both loans. →

Artist impression of the new hospital in Ghana

Hyprop expects to report full-year loss

By: Simone Liedtke 30th August 2021 Specialised shopping centre real estate investment trust (Reit) Hyprop has advised that it expects its distributable income per share to be between 326c and 346c for the financial year ended June 30. This, the company said on August 30, is between 147c and 167c or between 30% and 34% lower than... →

Rubicon to make the move to Richmond Park development

By: Simone Liedtke 27th August 2021 Sustainable technology company Rubicon will combine its operations, currently spread across six different locations in Cape Town, into one tailor-made multimillion-rand facility that includes a 7 900 m2 warehouse and 1 400 m2 of offices incorporating a 250 m2 showroom. Construction of the... →

Render of the Rubicon facility

Resilient proposes R1bn investment in Dipula Income Fund

By: Simone Liedtke 27th August 2021 Real estate investment trust (Reit) Resilient has proposed investing in JSE-listed Dipula Income Fund, but only if Dipula first simplifies its dual share capital structure. Resilient envisages that it will co-own suitable retail assets with Dipula and will continue to support Dipula to play a... →

Opportunities for women in the property valuation sector

By: Anna Moross 27th August 2021 The South African Institute of Valuers (SAIV) emphasises the importance of women being recognised as equal players among their male counterparts in the field of valuation and property. →

An image of Natalie Ginsberg, VP of SAIV

NATALIE GINSBERG Working in a male-dominated industry means that, more often than not, women have to work harder to prove their worth

Redefine to lose $8m from rental relief, deferrals in 2021

By: Reuters 25th August 2021 South Africa's Redefine Properties said on Wednesday it will lose an estimated 125 million rand ($8.4 million) from rental relief and deferrals for the 2021 financial year due to the impact of the coronavirus but may pay an annual dividend. South African commercial real estate has been among the... →

Rosebank developments thriving, but greater city involvement required

By: Tasneem Bulbulia 25th August 2021 The Rosebank node has enjoyed much success and years of developments; however, there are a number of challenges that require further support from the City of Johannesburg to mitigate, and to bolster further developments in the area. This was the key message emerging from a Rosebank media walk,... →

An image of a street view of the Radisson RED Johannesburg Rosebank

Photo by Creamer Media's Tasneem Bulbulia
Radisson RED Johannesburg Rosebank

Inclusive property development necessary to address South Africa's socioeconomic issues - ASAQS

By: Schalk Burger 23rd August 2021 In the wake of the July incidences of looting and destruction, South Africa needs to rethink the role property development can play in addressing a variety of socioeconomic issues, says Association of South African Quantity Surveyors (ASAQS) VP Mosha Senyolo. “We should have conversations about... →

Steyn City residential estate adds helistop to luxury offering

By: Simone Liedtke 23rd August 2021 Residential estate Steyn City, located between Sandton and Midrand, has launched its Ultimate Helistop – notching a first for residential developments in South Africa. Steyn City was introduced to the market in 2015, setting new standards by offering a living space with unparalleled facilities... →

Emira records strong year despite headwinds

By: Tasneem Bulbulia 18th August 2021 JSE-listed Emira Property Fund has declared a final dividend of 66.65c apiece, taking the dividend for its financial year to June 30 to 118.65c apiece – up 13.7% on the previous year. The company’s full-year distributable earnings of R649.1-million was 3.2% lower year-on-year, but Emira declared... →

Property company the first in South Africa to accept crypto for rental deposits

By: Tasneem Bulbulia 17th August 2021 Affordable residential and student housing specialist Quorum Holdings is the first in South Africa to accept rental deposits in cryptocurrency, and to allow tenants to potentially benefit from an increase in value, the company says in a statement. While rental deposits are standard practice in... →

Growthpoint decides against Globalworth buyout offer

By: Schalk Burger 13th August 2021 JSE-listed real estate investment trust Growthpoint's board has not accepted the offer by Aroundtown SA and CPI Property Group for Central and Eastern Europe real estate company Globalworth, in which Growthpoint holds a 29.4% stake. The Growthpoint board agreed with the independent committee of... →

Cement producers apply for tariff protection against imports

By: Irma Venter 13th August 2021 The domestic cement industry is waiting for a response from the International Trade Administration Commission of South Africa (Itac) on its application for tariffs to be levied on imported cement from certain Asian countries, says PPC Southern Africa MD Njombo Lekula. “The application is with... →

Polish shopping centres join vaccination drive

By: Tasneem Bulbulia 11th August 2021 JSE-listed EPP has joined Poland’s nationwide campaign to promote Covid-19 vaccination by introducing vaccination points and actively promoting vaccination in shopping centres across the country. Nearly 12 000 people have been vaccinated in five EPP shopping centres so far. →

IFC, Letshego Africa partner to increase affordable housing access in Namibia

By: Tasneem Bulbulia 11th August 2021 World Bank Group member the International Finance Corporation has partnered with pan-African finance organisation Letshego Africa to increase access to affordable housing finance for thousands of individuals in Namibia, with the potential to expand its partnership to other countries. The IFC’s... →

Smart buildings and infrastructure data must be designed to protect personal data

By: Schalk Burger 11th August 2021 Smart buildings can yield considerable value when it comes to monitoring occupancy rates and supporting a safe and healthy environment, but it must be remembered that digitally engineered buildings generate a substantially large quantity of data, says construction sector information company... →

Radisson Hotel Middelburg to be the group's sixteenth in South Africa

By: Schalk Burger 10th August 2021 Hospitality multinational Radisson Hotel Group will build its sixteenth hotel in South Africa – the Radisson Hotel Middelburg, which will open at the end of 2023. The hotel is part of the group’s expansion plan in South Africa. It also places the group firmly on track to reach its ambition of... →

Fortress REIT launches R900m sustainability-linked bonds

By: Tasneem Bulbulia 10th August 2021 JSE-listed real estate investment trust (Reit) Fortress Reit has launched R900-million in sustainability-linked bonds, aligned to its ongoing strategic environmental, social and governance plan to scale up its renewable energy generation for its own use and potentially also for sale to the grid... →

Mpumalanga hands over 200 houses to Bushbuckridge residents

By: Yvonne Silaule 6th August 2021 Mpumalanga Premier Refilwe Mtshweni-Tshipane has handed 200 government-subsidised houses to the destitute families at Casteel village, in the Bushbuckridge local municipality, through the Enhanced People’s Housing Process (ePHP). The houses were received mostly by women, as well as child-headed... →

EPP welcomes pets at its shopping centres

By: Simone Liedtke 5th August 2021 JSE-listed retail landlord EPP is responding to the global rise in pet ownership and the needs of its pet-owning community by welcoming pets at the company’s shopping centres. Since the start of the Covid-19 pandemic, the world has seen a significant increase in the adoption of dogs and cats as... →

Pic of a Dog in one of EPP's shopping centres.

Industrial properties remain resilient

By: Nadine Ramdass 30th July 2021 The industrial real estate sector has shown resilience during a period that has proven to be most volatile for the office property and retail sectors, says JSE-listed real estate investment trust Redefine Properties national asset manager for industrial Johann Nell. The resilience is a result of... →

MASSMART Redefine’s new development houses Massmart

Covid exacerbates retail sector challenges

By: Nadine Ramdass 30th July 2021 Amid the negative impact of Covid-19 on the retail property sector, real estate investment trust company Liberty Two Degrees (L2D) FD José Snyders says rental relief enables retail businesses to navigate the effects of the pandemic while ensuring that retail spaces remain appealing to the public.... →

A photo of Liberty Two Degrees FD José Synders

JOSÉ SNYDERS Covid-19 has accelerated changes in the retail sector

Pandemic can spur innovation in property sector

By: Nadine Ramdass 30th July 2021 Although the pandemic has made it difficult for commercial and industrial property stakeholders to plan effectively for the future, this has led to great innovations, new approaches and renewed opportunities, says engineering services consulting firm WSP Africa regional director Johan Piekaar.... →

Retail opportunities abound in peri-urban areas

By: Nadine Ramdass 30th July 2021 Peri-urban areas have immense opportunities for investment in commercial properties, such as shopping complexes and warehouses for retailers, says 100% black-owned property development, management and investments company Akani Properties MD Zamani Letjane. “We saw opportunities in the property... →

An image of an aerial view of the Autumn Leaf Mall

AERIAL VIEW OF AUTUMN LEAF MALL Akani Properties complements peri-urban areas’ retail property sector

Central, Eastern Europe provides options for South African property diversification

By: Tasneem Bulbulia 29th July 2021 South Africa is in super cycle stagnation phase and moving into a volatile period and, therefore, diversification of portfolios is certainly justified, FNB Commercial Property Finance economist John Loos said, speaking during hybrid fund Fortress REIT’s webinar on June 29. Loos explained that the... →

Office building in Botswana receives 5-Star Green rating

By: Marleny Arnoldi 27th July 2021 Botswana-based PrimeTime Property Holdings’ Motswere building has been awarded a 5-Star Green Star Africa – Office Design v1.1 rating by the Green Building Council South Africa. The building marks the council’s first green star-rated building in Botswana. →

Botswana-based PrimeTime Property Holdings’ Motswere building

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