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Property News

Intu Properties, Cale Street sign JV for Intu Derby shopping centre

By: Simone Liedtke 18th April 2019 Intu Properties and investment firm Cale Street Investment on Thursday announced the establishment of a 50:50 joint venture for the Intu Derby shopping centre, in the UK. Intu Derby is located in the centre of Derby and is a retail and leisure destination in the →

PIC raises Texton stake to 18.9%

By: Nadine James 17th April 2019 State-owned investment management company, the Public Investment Corporation (PIC) increased its beneficial shareholding in JSE-listed real estate investment trust Texton Property Fund to 18.9%. Texton CEO Marius Muller on Wednesday noted that the PIC had become Texton’s largest shareholder. →

MARIUS MULLER

Construction industry remains under pressure

12th April 2019 Creamer Media's Chanel de Bruyn speaks to Creamer Media Senior Deputy Editor Irma Venter about the ongoing decline of the South African construction industry, what this means for the country in the long term and industry body, the South African Federation of Civil Engineering Contractors’ request... →

Construction industry remains under pressure

New machine collection for floor preparation launched

By: Thabi Madiba 12th April 2019 Floor grinders and dust extractors manufacturer HTC Sweden AB launched a new line of smaller grinders and dust extractors, the Start and Grind collection, to assist flooring contractors when preparing floors, earlier this year in Sweden. The collection will be launched in South Africa in the... →

QUINTIN BOOYSEN There is a huge lack of knowledge on industrial flooring requirements, which leads to small contractors delivering inferior-quality flooring

Intu appoints interim CFO

By: Tasneem Bulbulia 11th April 2019 Intu Properties on Thursday announced the appointment of Barbara Gibbes as interim CFO with effect from April 29. Gibbes joined Intu as FD in January 2017. →

Redefine demonstrates why its investment strategy works

By: Simone Liedtke 10th April 2019 JSE-listed Redefine Properties continues to thrive amid a subdued environment, as a result of its strategy of investing where it believes the best market opportunities lie, while also catering to the demands of tenants. This is according to CEO Andrew Konig, who cautioned that, especially in... →

'Cash For Trash' idea nets Johannesburg entrepreneur R1m prize money

By: African News Agency 10th April 2019 Johannesburg-based entrepreneur Mary-Ann Mandishona on Tuesday became an instant millionaire when she won R1-million in prize money through her "Cash4Trash" sustainability business idea in the first-ever Redefine Properties "Innovation Challenge". The Redefine Properties "Innovation Challenge" is... →

Barloworld offers employees, general public stake in R3.5bn BEE property scheme

By: African News Agency 10th April 2019 Industrial conglomerate group Barloworld Limited on Wednesday launched its public offer for Khula Sizwe Property Holdings, a black-owned property company, in a bid to enable black South Africans to own a stake in a significant property company. Through this transaction, which is part of the... →

SME building and construction industry in the doldrums, says CIDB survey

By: Irma Venter 9th April 2019 The 2019 first quarter Construction Industry Development Board small and medium-sized enterprise Business Conditions Survey, released on Tuesday, suggests that the South African building and construction industry remains under pressure. General building confidence declined by one index point to 33. →

Communicare sells Cape Town Foreshore building to foreign hotel chain for R120m

By: African News Agency 8th April 2019 Social enterprise housing non-profit company (NPC) Communicare has sold its property on the Foreshore in Cape Town to an international hotel chain for R120-million, the NPC said on Sunday. The new owner, a foreign buyer, operates in the leisure property market. They have been on the lookout for... →

Marriott to add nearly 20 properties under Middle East & Africa portfolio in 2019

By: African News Agency 8th April 2019 Hotel group Marriott International said on Monday it expected to add 19 new properties and more than 3 000 rooms to its Middle East and Africa portfolio in 2019. It said the new additions were in line with the company’s expansion plans to add more than 100 new properties and nearly 26 000 rooms... →

Construction industry in rapid decline as work wanes, ‘mafia’ takes over, warns Safcec

By: Irma Venter 8th April 2019 The South African construction industry is in a state of accelerated decline, says South African Forum of Civil Engineering Contractors (Safcec) CEO Webster Mfebe. This is caused mainly by a lack of new contracts flowing from government’s purse, as well as increased violence and thuggery on local... →

Intu Properties appoints Matthew Roberts CE

By: Simone Liedtke 4th April 2019 Matthew Roberts has been appointed CE of JSE-listed Intu Properties, with effect from April 29. Roberts will succeed David Fischel, who will be standing down from the board and leaving the company on April 26. →

Hyprop successfully refinances R4bn of external debt

By: Tasneem Bulbulia 2nd April 2019 JSE-listed Hyprop on Tuesday announced that it had, in the three months since December 31, 2018, successfully refinanced R4-billion of external debt. On March 15, Hyprop announced the issue of two new unsecured five-year notes, HILB11 and HILB12, in terms of Hyprop’s Domestic Medium Term Note... →

Mashaba to launch new prospectus of properties with over R20bn investment value

By: African News Agency 1st April 2019 Executive Mayor Herman Mashaba will on Monday unveil another batch of properties to be launched by the Johannesburg Property Company to the private sector for development across the city, his office said. "The full prospectus of properties is expected to draw an investment value of between... →

Nxesi highlights importance of facilities management in property sector

By: Tasneem Bulbulia 28th March 2019 Public Works Minister Thulas Nxesi on Thursday emphasised the importance of proper maintenance and facilities management in the property sector. In a speech delivered during the Department of Public Works’ inaugural Real Estate Capacity Building colloquium, in Pretoria, he cited the newly opened... →

Exxaro unveils new ultramodern headquarters

By: Martin Creamer 28th March 2019 South Africa’s largest coal producer and black-empowered coal company Exxaro has unveiled its new ultramodern headquarters. The conneXXion, in Centurion, has e-parking bays for employees to charge their electric or hybrid vehicles while they work, and attractive central staircases to encourage... →

New Exxaro headquarters

Anglo Platinum releases additional 270 ha in support of land reform

28th March 2019 Anglo American Platinum handed over 270 ha of land, worth about R26-million, to the Rustenburg local municipality and the Rustenburg Alchemy Development Trust to support government’s commitment to sustainable land reform and transformation. Nadine James tells us more. →

Anglo Platinum releases additional 270 ha in support of land reform

Gauteng to hand over buildings to Wits, other higher education institutions

By: Creamer Media Reporter 27th March 2019 Over the next few weeks, the Gauteng Provincial Government will start handing over a number of buildings to the University of the Witwatersrand (Wits) to help address the acute shortage of student accommodation. As part of the provincial government’s adopted policy to release land and unused and... →

Dr Sedise Moseneke elected Property Sector Charter Council chairperson

By: Marleny Arnoldi 26th March 2019 Industry association South African Real Estate Investment Trust (SA Reit) Property Sector Charter Council (PSCC) representative Dr Sedise Moseneke has been elected chairperson of the council. The council is responsible for implementing transformation in the property sector. →

Intervention needed to protect South Africa’s infrastructure projects

By: Nadine James 22nd March 2019 Urgent intervention is needed to protect infrastructure projects, investor confidence and the safety of professionals in the built environment, Association of South African Quantity Surveyors (ASAQS) member Yunus Bayat said on Friday, in response to reports of widespread “construction mafia” and... →

Rising energy costs, rates and taxes worry property owners

By: Tasneem Bulbulia 20th March 2019 South African Property Owners Association (Sapoa) members have expressed concern about matters that may affect the sustainability of their assets in South Africa and the association is taking every effort to help its members tackle the various challenges they face, Sapoa president Ipeleng Mkhari... →

SA Reit publishes best practice recommendations for public comment

By: Marleny Arnoldi 18th March 2019 Industry association South African Real Estate Investment Trust (SA Reit) has published a draft second edition of its best practice recommendations (BPR) for public comment. The process of updating the recommendations, which is the accepted standard for reporting key metrics consistently to... →

Tsogo Sun appoints new CEO, to proceed with hotel business unbundling

By: Tasneem Bulbulia 15th March 2019 Tsogo Sun has resolved to restructure its hotel interests under one holding company – THL – and to proceed with the separation of Tsogo Sun and THL, culminating in the listing and unbundling of THL. Following the acquisition by Tsogo Sun of a controlling interest in Hospitality Property Fund... →

Emira on track to achieve environmental sustainability targets – CEO

By: Simone Liedtke 15th March 2019 Diversified real estate investment trust (Reit) Emira Property Fund is continuing its positive impact on environmental sustainability by increasing its use of renewable energy resources, expanding its water efficiency initiatives and phasing out the use of ozone depleting R22 refrigerant gas. The... →

French foreign minister visits local construction training academy

14th March 2019 The French Minister of Foreign and European Affairs Jean-Yves Le Drian visited construction materials and infrastructure components multinational Saint-Gobain’s Germiston, Ekurhuleni, construction training academy. Schalk Burger has the story. →

French foreign minister visits local construction training academy.

Ten worst South African performers tell tale of battling economy

By: Bloomberg 13th March 2019 It’s not even the end of the first quarter and already there’s a plethora of once-significant South African companies that have either collapsed or had their share prices hit the wall. The likes of sugar producer Tongaat Hulett, tech provider EOH Holdings, Blue Label Telecoms and Aspen Pharmacare... →

Growthpoint warns of ‘little to no growth’ in its South African portfolio

By: Simone Liedtke 13th March 2019 South African real estate investment trust (Reit) Growthpoint Properties expects its international investments to contribute most of its growth in the 2019 financial year. Reporting on its results for the six months ended December 31, 2018, the company on Wednesday said property fundamentals in... →

Octodec to receive Edcon equity in lieu of R11m rental reduction for two years

By: African News Agency 12th March 2019 Property company Octodec Investments said on Tuesday it had agreed to a rental reduction of approximately R11-million for retailer Edcon for two years starting on April 1 and would receive equity in lieu of it. It said the value of the equity was uncertain at this stage. →

By midyear, R3bn Leonardo will eclipse Carlton as SA’s tallest skyscraper

By: Irma Venter 8th March 2019 The view from the top of the Leonardo is quite spectacular, says Legacy Group development director Jamie Hendry. “It really is a 360-degree experience. On a clear day you can see the Magaliesburg mountains and the Voortrekker Monument, in Pretoria, from the north side of the building, and OR... →

EPP to open flagship development in Q2, reports growth for third consecutive year

By: Simone Liedtke 7th March 2019 JSE-listed retail landlord EPP, formerly known as Echo Polska Properties, on Thursday announced that it’s Warsaw-based shopping centre, Galeria Mlociny, which spans 84 400 m2, is on schedule to open during the second quarter of this year. The flagship development is about 96% pre-leased, with... →

EPP CEO Hadley Dean

Texton says strategies in place to improve its performance

By: Tasneem Bulbulia 5th March 2019 JSE-listed real estate investment trust Texton Property Fund on Tuesday reported a total dividend of 36.18c apiece for the six months ended December 31, 2018, in what the company said was a challenging operating environment. While its distributions were down 24.6% from the six months ended... →

Texton CEO Marius Muller

Attacq targets 7.5% to 9.5% dividend growth for 2019

By: Simone Liedtke 5th March 2019 JSE-listed real estate investment trust (Reit) Attacq on Tuesday announced an interim dividend of 40.5c a share for the six months ended December 31, 2018, which CEO Melt Hamman said was “within the company’s guidance”. There is no prior period comparative for the interim dividend, as Attacq only... →

Attacq CEO Melt Hamman

MAS delivers strong H1 earnings growth

By: Simone Liedtke 4th March 2019 Commercial property investor, developer and operator MAS Real Estate on Monday reported strong results for the six months ended December 31, 2018, which saw the group achieving distributable earnings per share (EPS) of €0.038 for the period. These results represent a 40% increase in distributable... →

Growthpoint signs Altron for a new corporate campus at Woodlands office park

By: Tasneem Bulbulia 4th March 2019 Growthpoint Properties has secured JSE-listed technology group Altron as a tenant for the 29 000 m2 Woodlands office park, in Woodmead, Sandton. Altron will take up occupancy at the office park in November 2020, with the group’s nine operating companies to be housed under one roof, which is... →

Rendering of the Altron project

Solid H1 showing for Hyprop’s South African, South-Eastern Europe portfolios

By: Tasneem Bulbulia 1st March 2019 Specialised shopping centre real estate investment trust Hyprop Investments’ distributable income from its South African portfolio increased by 8.8% year-on-year for the six months ended December 31, 2018. Hyprop operates a portfolio of shopping centres in major metropolitan areas across South... →

Tower’s NAVPS increases by 1.8% in H1

By: Tasneem Bulbulia 28th February 2019 JSE-listed real estate investment trust Tower Property Fund, which has a diversified portfolio of properties in South Africa and Croatia, achieved a 1.8% increase in its tangible net asset value per share (NAVPS) to R9.14 for the six months ended November 30, 2018. This is compared with the NAVPS... →

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