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Property News

R2.8bn staff housing project continues apace

By: Halima Frost 27th March 2020 Platinum group metals mining company Royal Bafokeng Platinum (RBPlat) has to date invested almost R1-billion, of a projected R2.8-billion, in the housing project devised for its staff, in line with its aspirational creed to engage in “More than Mining”. The intention with the housing project is... →

Iron-ore miner awards contract to group

27th March 2020 Australian integrated property and construction group Pindan announced in October that it had been awarded a contract, valued at about A$90-million, to progress construction of an operations village for Rio Tinto’s Koodaideri iron-ore project. The operations village contract comprises the design... →

THE BUILD UP Pindan has progressively been selected for more and more projects in the Pilbara region

Coega signs lease agreement with Eris for Vulindlela Retail Centre

By: Tasneem Bulbulia 23rd March 2020 The Coega Development Corporation (CDC) has signed a lease agreement with Eris Property Group for the development of the Vulindlela Retail Centre in Port Elizabeth. “The agreement marks a significant milestone in the development of the project, which has been in the works for the past year,” said... →

Contractors obliged to provide protection against Covid-19, armed gangs

By: Irma Venter 23rd March 2020 Contractors who fail to implement effective health and safety regulations on their construction sites are placing their workers at serious risk, especially in light of the global Covid-19 pandemic and ongoing invasions by armed gangs who threaten violence unless their employment demands are met,... →

JSE-listed Reits delay dividend payments

By: Marleny Arnoldi 23rd March 2020 JSE-listed real estate investment trusts (Reits) Redefine Properties, Hyprop Investments and EPP have announced postponements to the payment of dividends in response to the Covid-19 outbreak. The uncertain and prolonged nature of lockdown-type measures is having negative repercussions all over... →

Collaboration needed in electrical sector

By: Tracy Hancock 20th March 2020 South Africa’s entire electrical sector needs a “shake up” and a lot more collaboration, Electrical Conformance Board of South Africa (ECBSA) MD Peter Pedrick has learnt since taking up his position in May last year. Historically, South Africa was internationally recognised for its effective... →

FIRE STARTER There has been a significant rise in fire damage in South Africa over the past ten years amid a lack of regulation policing and governance

Balwin expects to report lower full-year earnings, but says sales remain healthy

By: Marleny Arnoldi 18th March 2020 JSE-listed residential real estate investment trust Balwin Properties expects its headline earnings a share for the year ended February 29 to be about 11% lower year-on-year at about 90.5c. The company, which will release its results on or about May 15, on Wednesday informed shareholders that... →

Arrowhead on track with its disposal programme for the year

By: Marleny Arnoldi 16th March 2020 JSE-listed real estate investment trust Arrowhead Properties has advised that it remains on track with its disposal programme for the financial year ending September 30. The company’s current disposal pipeline includes 42 noncore assets with a sales value of R913-million at an average 1%... →

Arrowhead Properties CEO Mark Kaplan.

Reits with European properties start implementing contingency measures

By: Marleny Arnoldi 16th March 2020 JSE-listed real estate investment trusts (Reits) EPP and MAS Real Estate have started executing contingency measures following mandatory closures of large shopping centres in various parts of Europe, as governments try to curb the spread of Covid-19. For example, the Polish government signed a... →

Atterbury to develop Aramex South Africa’s new Cape Town facility

By: Tasneem Bulbulia 13th March 2020 Property investor and developer Atterbury has been awarded the contract to develop a new distribution facility for logistics and transportation solutions provider Aramex South Africa in Richmond Park, Milnerton, Cape Town. The development and long-term lease agreement were awarded to Richmond... →

Artist impression of the Aramex facility

Indluplace picks up occupancy in Mpumalanga, continues to sell small properties

By: Marleny Arnoldi 13th March 2020 JSE-listed residential real estate investment trust Indluplace has managed to get its occupancy level at the Highveld View complex, in eMalahleni, Mpumalanga, up to 95%, compared with 33% in February 2019. This is testament to the company’s successful marketing initiatives during a time of... →

Indluplace CEO Carel de Wit

EPP meets guidance for fourth consecutive year

By: Simone Liedtke 12th March 2020 JSE-listed retail landlord EPP on Thursday reported that it had met its earnings guidance for a fourth consecutive year, with distributable income earnings for the year ended December 31 having increased by 9.6%. Distributions were €11.62 a share. →

Photo by Creamer Media's Simone Liedtke
Outgoing EPP CEO Dean Hadley

Balwin, Absa partner to launch South Africa’s first green home loan

By: Marleny Arnoldi 12th March 2020 JSE-listed real estate investment trust Balwin Properties, together with Absa, has launched South Africa’s first green home loan – the Absa Eco Home Loan. The home loan will come with features and benefits that will appeal to customers looking to live green. →

Balwin CEO Steve Brookes

Standard Bank funding model helps Growthpoint Investec African Properties expansion

By: African News Agency 12th March 2020 A funding solution from Standard Bank’s Real Estate Financing division has helped Growthpoint Investec African Properties Limited (GIAP) expand its sub-Saharan footprint, following the acquisition of properties from the RMB Westport Fund I (RMBW). Historically, property acquisition in sub-Saharan... →

Growthpoint warns of further growth constraints as distributions a share slow

By: Marleny Arnoldi 11th March 2020 JSE-listed real estate investment trust (Reit) Growthpoint Properties delivered a 0.2% year-on-year growth in distributions a share for the six months ended December 31. The company declared an interim dividend of 106c apiece. →

Growthpoint Properties group CEO Norbert Sasse

Construction sector sheds jobs as it faces late payments, community mafias

By: Irma Venter 11th March 2020 Around 90 000 formal jobs have been lost in the South African construction industry from June 2018 to September 2019, says construction market intelligence firm Industry Insight. Employment in the sector now stands at around 600 000 people, says CEO Elsie Snyman. →

Marriott International grows footprint in South Africa with two new openings

By: Tasneem Bulbulia 11th March 2020 Marriott International has opened the Johannesburg Marriott Hotel Melrose Arch and the Marriott Executive Apartments Johannesburg Melrose Arch, marking the debut of Marriott Executive Apartments in South Africa and the first purpose-built Marriott Hotel in the country. Owned and developed by... →

Human Settlements dept reviewing its funding model – Sisulu

By: Marleny Arnoldi 6th March 2020 Although the Department of Human Settlements has invested R124-billion in delivering 4.7-million housing units since 1994, the housing backlog in South Africa remains at about 2.3-million homes. Human Settlement, Water and Sanitation Minister Lindiwe Sisulu on Friday pointed out that South Africa... →

Photo by Creamer Media
Human Settlements, Water and Sanitation Minister Lindiwe Sisulu

Attacq lifts interim dividend despite ‘extremely negative’ environment

By: Simone Liedtke 3rd March 2020 Real estate investment trust (Reit) Attacq on Tuesday announced an 11.1% increase to its interim dividend to 45c a share, which positions the group to deliver at the upper end of its full-year guidance of between 8% and 10% growth in dividends. Building on this positive performance within an... →

WBHO (almost) shakes off nightmare Aussie roads project

By: Irma Venter 3rd March 2020 Wilson Bayley Holmes-Ovcon (WBHO) saw a strong recovery in the six months ended December 31, as it turned a R2-million profit for the comparative period in 2018 into a R264-million profit. It seems the construction group is shaking off the effect of a botched roads project in Melbourne,... →

Fairvest weathers headwinds to record solid results

By: Tasneem Bulbulia 2nd March 2020 Fairvest Property Holdings recorded solid results for the six months to December 31, with above-market distribution growth of 5.1%, net property income growth of 2.2%, five-year lows in vacancy rates and consistently low arrears. “Fairvest’s focus on a differentiated sector of the market and its... →

Darren Wilder

Hyprop forges ahead with its strategy despite tough trading conditions

By: Tasneem Bulbulia 28th February 2020 JSE-listed real estate investment trust (Reit) Hyprop’s interim results demonstrate progress in implementing its new strategy, with the trading density of its South African portfolio having increased by 0.6% for the six months ended December 31 and by 1.4% over the past 12 months. The trading... →

Shoprite forms JV with Equites

By: Reuters 25th February 2020 South Africa's Shoprite Holdings will transfer its distribution centres and undeveloped land valued at R2-billion to a new joint venture (JV) it is creating with Equites Property Fund, the supermarket chain said on Tuesday. Shoprite has more than 2 800 stores across Africa and has said it wants... →

Quality assets underpin Liberty Two Degrees' solid 2019 performance

By: Simone Liedtke 24th February 2020 Sustainable trading density growth of 3.6% for the year ended December 31 was reported for South Africa-focused retail-centered real estate investment trust (Reit) Liberty Two Degrees’ (L2D’s) retail portfolio, with Sandton leading at 9%, up from 4% in 2018. This, the company said on Monday, was... →

Fundi launches student accommodation digital platform

By: Tasneem Bulbulia 20th February 2020 Education funding and solutions provider Fundi on Thursday launched its new digital student accommodation platform, a single-access source for all things student accommodation. Launching the platform at the Rand Club, in Johannesburg, Fundi CEO Tshepo Ditshego said the organisation chose to... →

Balwin to buy Umhlanga property from Tongaat for R167m

By: Tasneem Bulbulia 19th February 2020 JSE-listed Balwin Properties has concluded an agreement to buy, from Tongaat Hulett Development, Portion 3 & 4 of Erf 3465 Umhlanga Rocks; Portion 6 of ERF 3465 Umhlanga Rocks; the remainder of Erf 3434 Umhlanga Rocks; and the remainder of Erf 3465 and 3457 Umhlanga Rocks, measuring 64 ha in... →

Emira focused on steady, incremental growth amid tough market conditions

By: Marleny Arnoldi 19th February 2020 JSE-listed real estate investment trust (Reit) Emira Property Fund says the performance of its US-based assets has contributed to the company’s distribution growth of 1.7% year-on-year for the six months ended December 31. The Reit declared an interim dividend of 74.10c for the six months under... →

Emira Property Fund CEO Geoff Jennett

Growthpoint welcomes first tenants to its KZN industrial park

By: Marleny Arnoldi 19th February 2020 Real estate investment trust Growthpoint Properties has completed the first phase of its new Growthpoint Industrial Park, in KwaZulu-Natal. The company says the park has received keen market interest and its first tenants are already operating from the 20 300 m2 initial phase of the... →

Growthpoint Properties' industrial park, in KwaZulu-Natal

Vukile places oversubscribed R500m unsecured bond

11th February 2020 Retail-focused real estate investment trust Vukile Property Fund has issued R500-million senior unsecured corporate bonds with three and five-year maturities. The issue was significantly oversubscribed, with demand exceeding the maximum offer by 4.2 times. It drew orders from 15 different... →

Balwin announces R9bn development in Midrand

By: Tasneem Bulbulia 6th February 2020 JSE-listed Balwin Properties on Thursday announced Munyaka, a R9-billion development in Waterfall, Midrand, which will include the largest freshwater lagoon in the southern hemisphere. Construction has started on the lagoon, which will cover an area the size of about seven rugby fields, along... →

Artist impression of the development

Sanral’s new standard contract exposes contractors to higher risks, says MDA

By: Irma Venter 4th February 2020 Amendments to the South African National Roads Agency Limited’s (Sanral’s) standard contract have made it significantly more difficult for contractors to deal with disruptions related to the construction mafia, warns construction and technology law specialist MDA Attorneys. The term ‘construction... →

Atterbury hands R150m showroom over to WeBuyCars

By: Marleny Arnoldi 30th January 2020 Property developer Atterbury on Wednesday handed over a new R150-million purpose-built showroom to car resale specialist WeBuyCars, in the Western Cape. The dealership development comprises 13 500 m2 of car floor space, which is able to accommodate about 700 cars, and 800 m2 of office space. →

Demolition works underway at Melrose Arch

29th January 2020 ICON Earthworks, part of the ICON Group, has been awarded a R2.5-million contract for the demolition of four buildings by property development company Amdec. Mc’Kyla Nortje has the story. →

Demolition works underway at Melrose Arch

Equites to develop a R1.3bn warehouse for Pepkor

By: Tasneem Bulbulia 22nd January 2020 JSE-listed real estate investment trust Equites Property Fund will develop a 122 734 m2 logistics warehouse facility in Hammarsdale, KwaZulu‑Natal, for JSE-listed retailer Pepkor. The indicative total cost of the development is R1.3-billion, which includes the cost of the land of R281-million. →

Amid Kenya power struggle, IMF says investment programme in crisis

By: Reuters 17th January 2020 Hundreds of mismanaged infrastructure projects have stalled in Kenya and it will cost around $10-billion to revive them, the IMF said in a report whose findings point to a growing power struggle at the heart of government. Amid mounting public anger over ballooning state debt and a series of... →

How high can you go? Race to the top for three African cities

By: Bloomberg 15th January 2020 What do South Africa, Côte d'Ivoire and Morocco have in common? The three countries spread across south, west and northern Africa are all vying to build the continent’s tallest building. The Leonardo, in Johannesburg’s upmarket Sandton neighborhood, is 234 m high and is the current holder of the... →

The Leonardo, in Sandton

UK property company continues strategic disposal programme

By: Simone Liedtke 13th January 2020 UK real estate investment trust RDI is continuing to progress its strategic disposal programme amid positive letting activity. RDI CEO Mike Watters says the company’s asset management team has delivered a number of letting successes, reflecting the company’s ongoing focus on “maximising the... →

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