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Property News

GBCSA’s Cruickshanks takes up position at Growthpoint Properties

By: Marleny Arnoldi     16th April 2020 Green Building Council of South Africa (GBCSA) has announced the resignation of its market engagement managing executive Grahame Cruickshanks. Cruickshanks had since 2015 undertaken various roles at the council, including leadership of the residential business unit, business development,... 

Construction sector faces cash crunch as lockdown is extended  

By: Irma Venter     15th April 2020 The Master Builders Association (MBA) North warns that the current Covid-19 lockdown and its aftermath are set “to raise all sorts of issues” for an industry that is already in trouble.  “The fact that all construction work has been put on hold for the lockdown period has caused an immediate cash... 

Construction sector faces cash crunch as lockdown is extended

Octodec withdraws distribution guidance

By: Tasneem Bulbulia     7th April 2020 JSE-listed Octodec has withdrawn its distribution guidance for the financial year to end August 31 owing to the ongoing unpredictability in the market as a result of Covid-19. Octodec says the business continuity and safety measures put in place in collaboration with City Property Administration,... 

Covid-19 outbreak to cause recession, impact property – FNB

By: Tasneem Bulbulia     7th April 2020 With broad consensus that the Covid-19 outbreak will result in a sharp contraction in global gross domestic product (GDP), as well as for South Africa, in the first half of this year, the consequences of the outbreak are worrying, says FNB Property economist Siphamandla Mkhwanazi. While the... 

The Property Industry Group announces industry-wide assistance, relief package

By: Simone Liedtke     7th April 2020 The Property Industry Group has announced an industry-wide assistance and relief package for retail tenants that are hardest hit by South Africa’s lockdown in the face of the Covid-19 pandemic. The initiative, which focuses principally on supporting affected small-, medium-sized and... 

The Property Industry Group announces industry-wide assistance, relief package
Property Industry Group spokesperson and SA Reit Association chairperson Estienne de Klerk

Three Reits withdraw distribution guidance for the year

By: Marleny Arnoldi     1st April 2020 JSE-listed real estate investment trusts (Reits) Vukile Property Fund, Hyprop Investments and Attacq have announced the withdrawal of their distribution guidances for their respective financial year-ends during 2020. This follows after the governments in countries where they operate have declared... 

Three Reits withdraw distribution guidance for the year

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... 

Iron-ore miner awards contract to group
THE BUILD UP Pindan has progressively been selected for more and more projects in the Pilbara region

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... 

R2.8bn staff housing project continues apace
MORE THAN A HOUSE Royal Bafokeng Platinum continues to uplift its workers by affording them the opportunity to own their own homes

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,... 

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

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... 

Collaboration needed in electrical sector
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 on track with its disposal programme for the year
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... 

Atterbury to develop Aramex South Africa’s new Cape Town facility
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 picks up occupancy in Mpumalanga, continues to sell small properties
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. 

EPP meets guidance for fourth consecutive year
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, Absa partner to launch South Africa’s first green home loan
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 warns of further growth constraints as distributions a share slow
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. 

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

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... 

Human Settlements dept reviewing its funding model – Sisulu
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,... 

WBHO (almost) shakes off nightmare Aussie roads project

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... 

Fairvest weathers headwinds to record solid results
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 focused on steady, incremental growth amid tough market conditions
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 welcomes first tenants to its KZN industrial park
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... 

Balwin announces R9bn development in Midrand
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... 

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