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Property News

Index shows ‘green’ buildings perform better than non-certified ones on every metric

By: Marleny Arnoldi     19th May 2022 Certified green buildings continue to outperform non-certified assets in the commercial property sector, the MSCI South Africa Green Annual Property Index shows. Particularly, certified green, prime and A-grade offices outperformed non-certified assets of a similar quality by 170 basis points... 

Emira sells Enyuka shareholding to One Property for R637m

By: Schalk Burger     18th May 2022 JSE-listed real estate investment trust Emira Property Fund will sell its entire 49.9% stake in rural and lower-living standards measure retail property Enyuka Property, which is a joint venture  (JV)with One Property, to its JV partner for R637-million, representing a small premium to book... 

Indluplace posts lower interim revenue, profit, despite improved letting activity

By: Darren Parker     18th May 2022 JSE-listed real estate investment trust (Reit) Indluplace has reported a 4% year-on-year decrease in revenue and a 7% year-on-year decrease in operating profit for the six months ended March 31. The Reit owns a portfolio of 9 220 residential units and 15 549 m2 of associated retail space. The... 

Investec Property Fund declares 11% higher dividend for FY22

By: Marleny Arnoldi     18th May 2022 Property firm Investec Property Fund (IPF) has posted a 10.8% increase in distributable income per share (DIPS) of 107.6c for the financial year ended March 31, compared with DIPS of 97.08c in the prior financial year. The company declared a final dividend of 52.46c apiece, adding up to the... 

Emira grows US investment

By: Tasneem Bulbulia     16th May 2022 JSE-listed Emira Property Fund has acquired its twelfth grocery-anchored open-air shopping centre in the US. Always investing together with its in-country US investment partners, the Rainier Group of Companies, Emira has now invested a further $18.45-million into the equity of a 542 000 ft2... 

Redefine reinstates interim dividend at 23.69c

By: Marleny Arnoldi     16th May 2022 JSE-listed real estate investment trust (Reit) Redefine Properties has posted 5.9% higher distributable income at R1.5-billion for the six months ended February 28. Distributable income a share amounted to 26.33c apiece, compared with distributable income a share of 26.18c apiece in the prior... 

Balwin declares dividend on the back of record revenue, lifts profit by 15%

By: Donna Slater     16th May 2022 JSE-listed property developer Balwin Properties increased its profit for the financial year ended February 28 by 15% year-on-year, resulting in a profit margin of 27%, while revenue increased by 16% to R3.1-billion. As a result, Balwin’s net asset value increased by 10% to R7.49 a share. 

Sustainability, affordable housing demand underpin Calgro M3’s strong full-year performance

By: Schalk Burger     16th May 2022 JSE-listed property development company Calgro M3 CEO Wikus Lategan attributes a 50.3% increase in group revenue to R1.32-billion for the financial year ended February 28, to demand for and sales of affordable housing units, as well as the company's focus on sustainable developments and its own... 

Octodec records solid performance in tough climate on the back of digitalisation initiatives

By: Tasneem Bulbulia     10th May 2022 JSE-listed real estate investment trust Octodec Investments recorded a solid performance for the six months ended February 28, against a backdrop of subdued market recovery. Speaking to Engineering News on May 9, MD Jeffrey Wapnick said the period was tough, with Covid-19 and some restrictions,... 

Dipula posts good interim results under ‘extremely challenging conditions’

By: Schalk Burger     5th May 2022 JSE-listed diversified real estate investment trust Dipula Income Fund increased its distributable earnings by 0.1% to R275.7-million for the six months ended February 28. It maintained a 100% pay-out ratio, resulting in 5% growth in A-share distributions to 61.97c a share and B-share... 

Warehouse demand growth boosts Equites’ full-year results

By: Darren Parker     4th May 2022 Intensifying demand for modern and future-proof warehousing solutions contributed to a strong financial year for real estate investment trust (Reit) Equites Property Fund. “Logistics properties globally continue to outperform, supported by sustained demand in the tenant and investor markets. 

Equites CEO Andrea Taverna-Turisan
Equites CEO Andrea Taverna-Turisan

Fairvest to list on A2X

By: Tasneem Bulbulia     4th May 2022 Property company Fairvest has been approved for a secondary listing on A2X Markets and will be available to trade on the exchange from May 11. This follows the merger of Arrowhead Properties and Fairvest Property, creating the largest South African-focused real estate investment trust. 

SA Corporate Real Estate to list on A2X

By: Schalk Burger     25th April 2022 JSE-listed real estate investment trust SA Corporate Real Estate has been approved for a secondary listing on A2X Markets and its shares will be available for trade on A2X from May 3. The company will retain its primary listing on the JSE and its issued share capital will be unaffected by its... 

Industrials acquires four multi-let UK estates for £21-million

By: Schalk Burger     21st April 2022 JSE-listed real estate investment trust (Reit) Industrials REIT has acquired four multi-let industrial estates in Boston, Barnsley, Leeds and Stockton on Tees, in the UK, for £20.86-million. The purchase price reflects a blended net initial yield (NIY) of 5.7% and an average capital value of... 

Nedbank extends R200m green loan for Vukile solar projects

By: Schalk Burger     19th April 2022 JSE-listed real estate investment trust Vukile Property Fund has concluded a five-year, R200-million use-of-proceeds green loan with financial services firm Nedbank Corporate and Investment Banking, which will fund 19 solar energy projects and energy-efficiency initiatives across South Africa.... 

Maluti Crescent in Phuthaditjhaba
Maluti Crescent in Phuthaditjhaba

RIB sponsors free-to-use tool to help make buildings more sustainable

By: Schalk Burger     19th April 2022 Architecture, engineering and construction (AEC) technology multinational RIB has partnered with nonprofit organisation Building Transparency, which developed and provides a free and open-access tool targeted at reducing the impact of embodied carbon and making the AEC industry more efficient and... 

Fairvest confirms its assets in KZN remain undamaged so far

By: Marleny Arnoldi     13th April 2022 JSE-listed property company Fairvest has assured shareholders that no damage of a structural nature has occurred to its properties in KwaZulu-Natal as yet, amid the flash flooding being experienced in the province. The group has 16 assets in the province, representing 11% of its total... 

Grit reinforces plans to own majority stake in Gateway by acquiring controlling stake in APDM

By: Darren Parker     11th April 2022 LSE-listed real estate company Grit Real Estate Income Group has acquired a 77.95% controlling stake in Africa Property Development Managers (APDM), the asset manager of property development company Gateway Real Estate Africa (Grea), through a vendor placement at the issue price of $0.52 per new... 

Growthpoint formalises name for its funds management business

By: Schalk Burger     11th April 2022 JSE-listed real estate investment trust (Reit) Growthpoint Properties has announced that its funds management business will be called Growthpoint Investment Partners to reflect its strategy to co-invest and co-manage specialist alternative real estate investment portfolios in which Growthpoint is... 

IWG, Attacq collaborate on flexible working

By: Tasneem Bulbulia     8th April 2022 Hybrid work solutions provider IWG and real estate investment trust (Reit) Attacq have partnered to expand their service offerings in the property industry, responding to the varying office needs and the emerging shift to hybrid working environments. The two have a combined vision to create a... 

Fast-growing Cape Town to launch Land Release Programme to assist affordable housing projects 

By: Irma Venter     5th April 2022 The City of Cape Town will launch its Land Release Programme for More Affordable Housing at its first Affordable Housing Indaba set to take place later this week.  The city says the programme has been informed by its assessment of suitable city-owned land, including land in and near the Cape Town... 

Image of affordable housing development in Cape Town

Afrimat Construction Index muted by slow infrastructure roll-out

By: Irma Venter     1st April 2022 The Afrimat Construction Index (ACI) has staged a swift recovery from the Covid-19-induced slump that occurred during the second quarter of 2020, increasing by 74% within only two quarters.   Since then, however, progress has been muted, owing mainly to the sedate roll-out of government’s... 

Beckman Coulter moves premises to Growthpoint’s Centralpoint

By: Darren Parker     28th March 2022 JSE-listed Growthpoint Properties has assisted long-standing tenant biomedical products manufacturer Beckman Coulter to relocate from Growthpoint Business Park in Midrand, Johannesburg, to a new bespoke 5 750 m2 premises in the Centralpoint Innovation District, in Samrand, Johannesburg. The... 

Beckman Coulter's new premises in the Centralpoint Innovation District in Samrand, Johannesburg
Beckman Coulter's new premises in the Centralpoint Innovation District in Samrand, Johannesburg

Human settlements dept implements policy changes  

By: Tasneem Bulbulia     25th March 2022 The Department of Human Settlements will, from April 1, implement a number of policy amendments, Human Settlements Minister Mmamoloko Kubayi outlined at a briefing on March 25. This follows the department’s visits to all nine provinces, where it engaged with leaders in the provinces, visited... 

Office-to-housing conversions hold some potential, but conditions apply

By: Tasneem Bulbulia     25th March 2022 As South Africa looks to recover from the impacts of Covid-19, the viability of the trend of converting office buildings into residential properties is under scrutiny, with local and international interest having seemingly been piqued, building on the momentum those property companies dabbling in... 

Engineering News and Mining Weekly cover image

Industrial sector demand for space increasing, tenants want more value, says Redefine

By: Schalk Burger     24th March 2022 While supply bottlenecks caused by Covid-19 lockdowns are easing and opening the door for commercial sector property growth, the market for industrial properties looks very different, raising the stakes for operators to think outside of the box, says JSE-listed property development company... 

Balwin expects modest increase in earnings a share for FY2022

By: Marleny Arnoldi     23rd March 2022 JSE-listed Balwin Properties has advised that its consolidated earnings a share for the year ended February 28, will increase by between 4% and 9% year-on-year to between 74.5c and 78.1c. Consolidated core headline earnings a share for the year are expected to increase by between 12% and 17%... 

Attacq reports significant debt reduction, increase in profit for the interim period

By: Darren Parker     22nd March 2022 JSE-listed real estate investment trust (Reit) Attacq reported a 34.1% increase in distributable income a share to 28.2c for the six months to December 31, 2021. Distributable income excluded the profit earned from the sale of residential units, which added an additional 9.35c a share. 

A photo of Waterfall City at night

Challenging six months ahead as WBHO exits Australia – Neff

By: Irma Venter     18th March 2022 It will be a challenging six months ahead as Wilson Bayly Holmes-Ovcon (WBHO) “navigates the consequences” of exiting the Australian construction market, says CEO Wolfgang Neff. “We’ll be dealing with some pressure to manage our Australian exposure.” 

Hyprop says trading performance back to pre-Covid-19 levels

By: Darren Parker     17th March 2022 Retail-focused real estate investment trust (Reit) Hyprop said on March 17 that trading performance had reverted back to pre-Covid-19 levels, or in some cases even higher. The Reit said the improved trading performance was driven by a repositioning strategy, which saw its sub-Saharan Africa... 

One of Hyprop's retail properties

Growthpoint delivers encouraging results despite tough interim period

By: Darren Parker     16th March 2022 Despite a tough operating period, JSE-listed Growthpoint Properties delivered a 17.6% increase in South African real estate investment trust (Reit) funds from operations and a 5.2% increase in distributable income a share of 76.9c for the six months to December 31, 2021. It also declared an... 

Growthpoint group CEO Norbert Sasse
Growthpoint group CEO Norbert Sasse

Atterbury completes fully let office development at Castle Gate

By: Schalk Burger     15th March 2022 Property developer and investor Atterbury has completed the development of a fully-let 6 000 m2, premium-grade office and gym in Pretoria’s Castle Gate precinct. “The latest addition to Castle Gate reflects Atterbury’s ethos for developing mixed-use nodes. Each new property type that we add makes... 

The fully-let office development at Castle Gate in Pretoria

Fujifilm's new head office in Sandton to also serve as Fujifilm Technology Centre Africa

By: Schalk Burger     15th March 2022 Technology multinational Fujifilm South Africa has turned the first sod, marking the start of construction of a new head office in Sandton, which forms part of Fujifilm’s ongoing commitment to the country, following its tenth year in the country and the opening of a new office and repair centre... 

An artist's impression of the new Fujifilm South Africa head office
An artist's impression of the new Fujifilm South Africa head office

Afrimat Construction Index muted by slow infrastructure rollout 

By: Irma Venter     15th March 2022 The Afrimat Construction Index (ACI) has staged a swift recovery from the Covid-19 induced slump that occurred during the second quarter of 2020, increasing by 74% within only two quarters.   Since then, however, progress has been muted, owing mainly to the sedate rollout of government’s... 

Image of construction site

FNB/BER Building Confidence Index reaches four-year high

By: Darren Parker     15th March 2022 The First National Bank (FNB)/Bureau for Economic Research (BER) Building Confidence Index (BCI) gained six points to 40 in the first quarter of this year, compared with 34 in the fourth quarter of 2021 – indicating a four-year high in building confidence in South Africa. The FNB/BER BCI reveals... 

cranes and construction site at sunset

Attacq announces plans, partnership to further uplift Phuthumani Primary School

By: Marleny Arnoldi     10th March 2022 JSE-listed real estate investment trust Attacq, through its corporate social investment initiative Attacq Foundation, has partnered with nonprofit organisation Sage Foundation to build and renovate classrooms at the Phuthumani Primary School, in Thembisa. The partners are building three new... 

Attacq CEO Jackie van Niekerk
Photo by Creamer Media's Marleny Arnoldi
Attacq CEO Jackie van Niekerk at a sod-turning ceremony in Thembisa

Local property market to feel economic pressure from Ukraine war, warns FNB

By: Marleny Arnoldi     7th March 2022 While it is still too early to determine what the impact of the Ukrainian/Russian conflict will be on South Africa’s property market, there are seemingly obvious potential impact points, says FNB Commercial Property Finance strategist John Loos. For example, he says, it seems the conflict is... 

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