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Property News

EPP opens flagship shopping centre in Warsaw

By: Tasneem Bulbulia     24th May 2019 Dual-listed real estate company EPP on Friday opened its flagship development in Warsaw – Galeria Młociny, which gives residents access to more than 200 stores alongside one of the city’s most ambitious food and beverage projects. Galeria Młociny features nearly 85 000 m2 of modern space... 

KwaZulu-Natal’s La Lucia mall to receive a major upgrade

By: Tasneem Bulbulia     24th May 2019 The La Lucia mall, in KwaZulu-Natal, is undergoing a major upgrade that will modernise its retail space. The mall has undergone eight extensions and five major mall upgrades since it first opened its doors in 1974. Its most recent major upgrade was in 2003. 

KwaZulu-Natal’s La Lucia mall to receive a major upgrade
La Lucia Mall interior

Cape Town to spend R320m on next phase of hostel transformation programme

By: African News Agency      23rd May 2019 The City of Cape Town on Thursday said that it will be moving forward with plans to upgrade more hostel units in Langa as part of the next phase of the hostel transformation programme, which will cost R320-million. The next phase of the programme, which is set to start in 2020, will see the... 

Bureaucracy, lags in approval are killing the construction industry, say developers

By: Kim Cloete     17th May 2019 Bureaucratic delays in getting property developments under way have badly damaged the development and construction industry, prompting a crisis, industry experts have outlined at the Western Cape Property Development Forum conference, in Cape Town. They have also lamented a "shocking" decline in... 

Emira expands US portfolio with two equity investments

By: Simone Liedtke     16th May 2019 Emira Property Fund has made two further equity investments into grocery-anchored dominant shopping centres in Texas, in the US. Emira has now assembled a portfolio of eight value-focused retail centre assets in the US. 

Sanedi launches two solar heating system projects

By: Marleny Arnoldi     15th May 2019 South African National Energy Development Institute (Sanedi) on Wednesday launched the first solar district heating system in South Africa at the University of the Witwatersrand’s (Wits’) Junction Campus, as well as the largest solar process heat system in sub-Saharan Africa at the Klein Karoo... 

Sanedi launches two solar heating system projects

Rescue practitioners expect proceeds of R709m from initial Group Five disposals 

By: Terence Creamer     15th May 2019 Business rescue practitioners (BRPs) at construction firm Group Five reported on Wednesday that the disposal of stakes in three companies, together with sale of plant, assets and property, is expected to yield proceeds of R709-million. Group Five’s shares were suspended in March after the company... 

Rescue practitioners expect proceeds of R709m from initial Group Five disposals

Gemgrow focuses on noncore asset disposals ahead of proposed Arrowhead merger

By: Nadine James     15th May 2019 JSE-listed real estate investment trust (Reit) Gemgrow Properties COO Alon Kirkel believes the company’s focus on recycling noncore assets and managing its yield profile has created a more attractive asset for the proposed merger with its parent company Arrowhead Properties. He told Engineering... 

Difficult trading environment, writedowns cuts Rebosis’ interim distributions

By: Simone Liedtke     14th May 2019 JSE-listed real estate investment trust (Reit) Rebosis Property’s distributable income decreased by 61% year-on-year to R195-million for the six months ended February 28. Of this, R96-million was as a direct result of the Reit’s exposure to New Frontier Properties, it said on Tuesday. 

Calgro M3 positioned for growth, despite challenging environment

By: Simone Liedtke     13th May 2019 JSE-listed property and property-related investment company Calgro M3 on Monday reported that its basic earnings a share for the year ended February 28 decreased by 97.31% to 2.53c. It also posted a headline loss a share of 19.01c for the financial year – down 121% year-on-year. 

Raubex uncertain about South African construction industry’s future

By: Simone Liedtke     13th May 2019 Infrastructure development and construction materials group Raubex’s 2019 financial year was characterised by a lack of work, coupled with violent community unrest that affected several of its sites, CEO Rudolf Fourie said on Monday. The adverse conditions resulted in Raubex having to rightsize a... 

Vukile buys three shopping centres from Rebosis for R1.8bn

By: Marleny Arnoldi     13th May 2019 JSE-listed Rebosis Property will sell three properties to JSE-listed Vukile Property Fund for R1.8-billion. The properties are Mdantsane City shopping centre, Sunnypark shopping centre and Bloedstreet Mall.  

Octodec grows interim rental income, but warns of lower full-year dividend

By: Marleny Arnoldi     13th May 2019 JSE-listed Octodec managed to grow its rental income by R47-million, or 5.2%, in the six months ended February 28, compared with the six months ended February 28, 2018, despite continued dampened consumer spend, lower growth in retail rental income and higher property operating costs. Octodec... 

Octodec grows interim rental income, but warns of lower full-year dividend
Octodec MD Jeffrey Wapnick

L2D to ban plastic shopping bags in its malls by January 2020

By: Marleny Arnoldi     10th May 2019 JSE-listed real estate investment trust (Reit) Liberty Two Degrees will implement a “no plastic shopping bags” policy at its portfolio of malls from January 2020. The Reit said in a statement on Friday that the future of retail was defined by a continued adoption of standards that meet... 

L2D to ban plastic shopping bags in its malls by January 2020
L2D CE Amelia Beattie

Equites achieves strong full-year results

By: Tasneem Bulbulia     9th May 2019 JSE-listed Equites Property Fund recorded growth of 11.8% in its per-share distribution for the year ended February 28, to 138.43c, along with robust growth in the net asset value a share of 10.2% to R16.92. Speaking at a results presentation in Johannesburg on Thursday, Equites COO Riaan Gous... 

Indluplace warns of lower dividends as difficult conditions persist

By: Simone Liedtke     9th May 2019 JSE-listed real estate investment trust Indluplace has warned of a 20% decrease in its dividend for the financial year ended September 2019, as difficult trading conditions previously flagged have turned out to be “considerably worse”. The residential-focused property fund on Thursday declared a... 

Indluplace warns of lower dividends as difficult conditions persist
Indluplace CEO Carel de Wit

FLSmidth boosts local engineering facility 

9th May 2019 Mining and cement equipment multinational FLSmidth has completed a second upgrade of its Delmas facility, which engineers and manufacturers components and equipment for local, regional and export clients. Schalk Burger has the story. 

FLSmidth boosts local engineering facility
FLSmidth boosts local engineering facility

Abland, Tiber on schedule to complete Phase 1 of Sandton Gate development

By: Tasneem Bulbulia     7th May 2019 Abland and Tiber, joint developers of the Sandton Gate precinct, are on track to complete Phase 1 of the mixed-use development. The first phase will include 15 500 m² of commercial space, 13 000 m² of P-grade office space and a 2 500 m² Planet Fitness positioned on the piazza level of the building. 

Abland, Tiber on schedule to complete Phase 1 of Sandton Gate development
Rendering of Sandton Gate

Redefine maintains sustained growth, value creation despite difficult local climate  

By: Tasneem Bulbulia     6th May 2019 JSE-listed Redefine Properties, which increased its distribution for the six months ended February 28 by 4% to 49.2c, maintained a strong platform for sustained growth and value creation despite ongoing economic and political uncertainty. The South Africa-based real estate investment trust holds... 

Redefine maintains sustained growth, value creation despite difficult local climate
Redefine CFO Leon Kok outlines the company’s performance for the period

Massmart’s Hayward to step down as CEO

By: Simone Liedtke     6th May 2019 Massmart CEO Guy Hayward has informed the company of his intention to step down from his position before the end of this year. The timing of his exit is still to be confirmed as he and the board embark on the process of ensuring a seamless transition. 

Africa gains traction as trade destination

By: Jessica Oosthuizen     3rd May 2019 Africa, as a trade and export destination, is looking increasingly attractive from a South African perspective, and represents an opportunity for growth for many South African companies, says research and consulting specialist Africa House MD Liz Whitehouse. Africa offers South African companies... 

Africa gains traction as trade destination
Photo by Creamer Media
MAKING PROGRESS Several industries and factors are driving growth in sub-Saharan Africa, including agricultural development and power

NHBRC deregisters errant builders from it database

By: Tasneem Bulbulia     30th April 2019 The National Home Builders Registration Council (NHBRC) has deregistered 17 contractors and builders from its database of approved homebuilders following the outcome of a disciplinary hearing. The names of the affected contractors have been published in the Government Gazette of March 15. 

Gauteng govt to release property to Wits for student accommodation

By: Creamer Media Reporter      30th April 2019 The Gauteng provincial government has signed a memorandum of intent (MoI) with the University of the Witwatersrand (Wits) for the release of five properties around Constitution Hill, as part of the provincial government's Rapid Land Release Programme. The agreement, which was signed by... 

Atterbury Europe completes Mall of Cyprus Phase 1 expansion

By: Marleny Arnoldi     30th April 2019 Property developer Atterbury Europe’s Mall of Cyprus Phase 1 expansion has opened to shoppers with an added 6 000 m2 of retail space, 15 new retail brands, six new food and beverage concepts and 300 extra parking spaces. The €30-million expansion of the Mall of Cyprus was designed to further... 

EPP raises R1.45bn for M1 acquisition

By: Marleny Arnoldi     25th April 2019 JSE-listed retail property fund EPP has successfully completed an equity raise of R1.45-billion, or €90-million, to fund tranche 2 of its M1 portfolio acquisition. The company expects to complete the transaction by June.  

Barloworld optimistic ‘black public’ will take up offer to invest in new property group 

By: Terence Creamer     25th April 2019 Industrial group Barloworld is optimistic that qualifying black South Africans will respond positively to its offer to buy a maximum of 30% of the shares available in a new black-owned property company, called Khula Sizwe Property Holdings, being created as part of a larger R3.5-billion... 

Barloworld optimistic ‘black public’ will take up offer to invest in new property group
Barloworld to sell 68 mostly industrial properties to Khula Sizwe

Cummins consolidates business units at new multimillion-rand premises  

25th April 2019 Global power company Cummins in March officially launched the “Power Hub”, its new multimillion-rand premises in the business area of the Waterfall Logistics Precinct, in Waterfall City, in Midrand. Tasneem Bulbulia tells us more. 

Cummins consolidates business units at new multimillion-rand premises
Cummins consolidates business units at new multimillion-rand premises

Johannesburg mayor announces R20bn investment for inner city

By: African News Agency      24th April 2019 Johannesburg mayor Herman Mashaba on Wednesday announced a R20-billion investment which he said was the single biggest property investment the city had ever made through private sector development. "Through the release of city properties to the private sector for redevelopment, the city expects... 

Johannesburg mayor announces R20bn investment for inner city
City of Johannesburg Mayor Herman Mashaba

Accor plans 60 new hotels in Africa, half of them in Egypt

By: Bloomberg     24th April 2019 Accor SA will open 60 new hotels in 14 countries in Africa in the next four years, its CEO for Middle East and Africa Mark Willis said. Over the next two years, the European hotel operator will open over half of them in Egypt, which Willis said was rebounding after “external factors” hurt the... 

Sandton’s Leonardo an example of South Africa’s architectural future, says Co-Arc 

By: Simone Liedtke     23rd April 2019 The nascent Fourth Industrial Revolution and the resultant information revolution will affect South African architecture “quite markedly” moving forward, South African architecture firm Co-Arc International Architects director Patrick McInerney tells Engineering News Online, adding that... 

Sandton’s Leonardo an example of South Africa’s architectural future, says Co-Arc
The Leonardo building, which is still under construction, pictured against the Sandton skyline

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. 

PIC raises Texton stake to 18.9%
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
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... 

New machine collection for floor preparation launched
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... 

 

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