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Property News

Growthpoint provides R908m towards Growthpoint Australia office acquisition

By: Marleny Arnoldi 5th December 2018 JSE-listed real estate investment trust Growthpoint Properties will provide R908-million towards its subsidiary ASX-listed Growthpoint Properties Australia’s (GOZ’s) acquisition of the Bank of Queensland’s headquarters, in Brisbane. Growthpoint has a 66% shareholding in GOZ. →

Texton appoints Golding chairperson, Muller takes the reins as CEO

By: Creamer Media Reporter 4th December 2018 Texton Property Fund has appointed Marcel Golding chairperson and Marius Muller CEO, with immediate effect. Golding succeeds Dempsey Naidoo, who was not available for re-election to the board. Golding has over 30 years of experience across sectors and industries, including as Deputy General... →

Texton chairperson Marcel Golding

City of Joburg updates investors on inner city housing project opportunities

By: Schalk Burger 4th December 2018 The City of Johannesburg has identified and is preparing 84 buildings in and around the inner city of Johannesburg for use by private sector developers to build housing for 300 000 people in the city who do not have housing. At the council chambers on Tuesday, City of Johannesburg mayor Herman... →

Universities excel in Greenovate Property and Engineering Awards

By: Simone Liedtke 4th December 2018 The University of Cape Town (UCT) has won the Greenovate Property Award 2018 and the Greenovate Engineering Award 2018, taking top place in both streams of the prestigious Greenovate Awards. →

The winning UCT team in the Greenovate Property Awards category comprised Michael Inskip, Samantha Johnson and Morgan Knowles, supervised by Saul Nurick and Karen Le Jeune

Rebosis sells seven office assets to black-owned companies

By: Marleny Arnoldi 3rd December 2018 JSE-listed real estate investment trust (Reit) Rebosis Property Fund has, through its subsidiary Ascension Properties, entered into three sale and purchase agreements to dispose of seven properties in its office portfolio to various 100%-black-owned property developers. The disposals form part... →

City of Johannesburg works with private firm to develop affordable housing in Bramley

By: African News Agency 30th November 2018 The city of Johannesburg said on Friday the first phase of a development in Bramley in which its planning department had an imput was now complete. It said mayor Herman Mashaba would on Monday join Africrest Properties in opening the Village and Spark School Development in the suburb. →

Vukile declares 7.5% H1 dividend growth

By: Simone Liedtke 29th November 2018 JSE-listed Vukile Property Fund on Thursday reported a 7.5% growth in dividends to 78.1c a share for the six months ended September 30. This is in line with the company’s full-year guidance, CEO Laurence Rapp said. →

Arrowhead reduces vacancies despite constrained market conditions

By: Creamer Media Reporter 28th November 2018 Diversified real estate investment trust (Reit) Arrowhead Properties reduced its vacancies from 12.1% at the start of its 2018 financial year to 7.9% by the end of the year. This despite the fact that it had initially expected vacancies to increase to more than 13% in the financial year ended... →

Following Mandela’s management style will aid in land reform – Ramaphosa

By: News24Wire 26th November 2018 President Cyril Ramaphosa invoked the management style of Nelson Mandela on Sunday evening when speaking of how the State would manage land reform, saying the matter needed to be addressed for SA to move forward. Ramaphosa was a guest at the Gauteng Conference of the South African Jewish Board of... →

President Cyril Ramaphosa

Firm’s design breathes new life into industry

By: Simone Liedtke 23rd November 2018 Multidisciplinary consulting engineering firm Arup was commended for its finalist entry of the V&A Grain Silo Complex façade in the architectural category at the 2018 South African Steel Awards, held last month. The R500-million V&A Grain Silo project, once an agricultural silo for grain storage... →

CROWN JEWEL The V&A Grain Silo Complex project was once an agricultural silo for grain storage, and is now features prominently in the silo district development

Emira boosts US retail property portfolio with another acquisition

By: Simone Liedtke 22nd November 2018 Emira Property Fund on Thursday announced that it has grown its portfolio in the US to five value-orientated assets in thriving states. The JSE-listed real estate investment trust co-invests in the US with its in-country partner, Rainier Group of Companies. →

Woodlands Square in Tampa, Florida

Stenprop on track to achieve multi-let transition goal over next two years

By: Simone Liedtke 22nd November 2018 Dual-listed property investment company Stenprop, which is focused on growing its multi-let industrial (MLI) portfolio, posted basic earnings of £13.2-million for the six months ended September 30. Net rental income of £16-million, excluding Switzerland, remained broadly flat compared with the... →

Education, Health, Public Works finances are in a bad way, says Auditor-General

By: Kim Cloete 22nd November 2018 Auditor-General Kimi Makwetu has warned that the financial health of the provincial departments of health, education and public works are in a bad way and need urgent intervention. “Urgent intervention is needed to prevent the collapse of these key service delivery departments,” said Makwetu in... →

Gemgrow delivers expected dividend growth for FY18

By: Marleny Arnoldi 21st November 2018 In line with guidance set, JSE-listed real estate investment trust Gemgrow Properties delivered dividend growth of 5% year-on-year to 106.91c apiece for A shares and 7% year-on-year to 78.7c apiece for B shares, for the financial year ended September 30. The company on Wednesday reported a... →

Gauteng government seeks help spending its RDP budget

By: News24Wire 21st November 2018 Gauteng Human Settlements MEC Uhuru Moiloa has plans to exhaust the RDP construction budget by the end of the financial year and he needs help. According to Moiloa, for the first time in his department's history, more than 50% of the budget was spent in the third quarter of the financial year. He... →

Mashaba orders audit to establish legal status of those occupying City property

By: News24Wire 21st November 2018 City of Johannesburg Mayor Herman Mashaba says he has ordered an audit into the legal status of those occupying City properties. The audit would establish, among other things, whether tenants occupying buildings in the City were doing so legally and if any subletting was taking place. It would... →

City of Johannesburg Mayor Herman Mashaba

Dipula delivers strong FY results

By: Tasneem Bulbulia 20th November 2018 Diversified real estate investment trust Dipula Income Fund on Tuesday reported double-digit growth in distributable earnings to R504.2-million for the year ended August 31. Dipula’s property portfolio ended the year with a 25% higher value at R8.6-billion. →

Stor-Age achieves growth despite challenging economic climate

By: Marleny Arnoldi 20th November 2018 Real estate investment trust Stor-Age has achieved a 9.1% year-on-year increase in dividends a share to 51.3c apiece for the six months ended September 30, underpinned by solid organic growth in its South African and UK portfolios and the successful integration of acquisitions. Stor-Age... →

Jewel City development project marks sod-turning milestone

By: Tasneem Bulbulia 19th November 2018 The Jewel City development project in Johannesburg is coming to life, with the first sod turned on Monday and further development plans for the inner-city precinct unveiled. The sod-turning was attended by Johannesburg mayor Herman Mashaba and Sigma Capital executive chairperson Phuti Mahanyele. →

Sigma Capital executive chairperson Phuti Mahanyele details the Jewel City development project

PSG Wealth to move into Ingress development in Midrand

By: Marleny Arnoldi 16th November 2018 JSE-listed property developer Attacq and wealth management firm PSG Wealth on Friday held a sodturning ceremony to officiate the development of the Ingress office park, in the Waterfall precinct, in Midrand. PSG will take up residency in a four-storey 4 376 m2 building, with the construction... →

Attacq CEO Melt Hamman and PSG chairperson Willem Theron share details on the Ingress development in Midrand that will house PSG from August 2019. Video and editing: Nicholas Boyd.

Attacq’s Ellipse Waterfall achieves towering first-week sales

By: Tasneem Bulbulia 15th November 2018 JSE-listed Attacq, in collaboration with JV partner Tricolt, is recording high sales volumes on Phase 1 of Ellipse Waterfall, the first high-rise residential development within Waterfall City, with sales totalling R420-million in the first week. The new residential development was announced in... →

Ellipse Waterfall

Indluplace maintains dividend amid tough residential property market

By: Tasneem Bulbulia 14th November 2018 JSE-listed real estate investment trust Indluplace Properties reported a dividend of 49.19c for the second half of the financial year ended September 30, bringing the total dividend for the year to 97.75c, in line with the prior year. During the period, Indluplace bedded down its R4.3-billion... →

Land issue is a festering sore – Ramaphosa

By: News24Wire 14th November 2018 Whenever President Cyril Ramaphosa travels abroad and hosts a media conference, he now inevitably faces questions around land reform without expropriation. His stock answer? That without comprehensive land reform, South Africa's hard-won stability may come undone. While Wednesday was no... →

President Cyril Ramaphosa & European Parliament President Antonio Tajani

South Africa's land expropriation unnerves investors – World Bank executive

By: Reuters 14th November 2018 Plans by South Africa's ruling African National Congress (ANC) to change the constitution to allow the expropriation of land without compensation have unnerved investors, a senior World Bank group executive said on Wednesday. President Cyril Ramaphosa's party has made the acceleration of land... →

Don’t change the Constitution for land reform – CDE

By: Sashnee Moodley 13th November 2018 Changing the Constitution to accelerate land reform is unnecessary and threatens property rights for no good reason, says the Centre for Development and Enterprise (CDE) in its latest report ‘Agriculture, Land Reform and Jobs: Can South Africa make this work?’. The CDE said that while it opposed... →

Rebosis shares fall on lower dividend

By: Tasneem Bulbulia 12th November 2018 JSE-listed real estate investment trust (Reit) Rebosis Property Fund's share price fell by more than 23% on Monday. The Reit declared a dividend of 252.86c per A ordinary share and 92.83c per ordinary share for the financial year ended August 31. This represents a 5% year-on-year increase in the... →

Atterbury concludes new BBBEE deal

By: Tasneem Bulbulia 8th November 2018 Property development and investment company Atterbury has concluded a significant broad-based black economic empowerment (BBBEE) transaction that secures 30% black ownership of Atterbury Property Fund (APF), the company announced on Thursday. APF is now 30% owned by Talis Investment Partners... →

Atterbury CEO Louis van der Watt and entrepreneur Tebogo Mogashoa

Rexroth HUBB launches to fully consolidate companies

8th November 2018 The Rexroth HUBB, in Kempton Park, was officially inaugurated in October, with this 16 000 m2 central hub housing the Bosch Rexroth South Africa group of companies, formerly the Hytec Group. Tasneem Bulbulia tells us more. →

Rexroth HUBB launches to fully consolidate companies

Wits university builds additional student accommodation

By: African News Agency 7th November 2018 26’10 South Architects and Corobrik said on Wednesday that the construction of additional accommodation at the University of Witwatersrand’s Barnato Hall of Residence would provide about 150 students with new rooms by the end of 2019. The Department of Higher Education said there was a shortfall... →

Redefine distributable income rises above R5bn mark for FY18

By: Marleny Arnoldi 5th November 2018 JSE-listed real estate investment trust (Reit) Redefine Properties reported year-on-year distribution growth of 5.5% for the financial year to August 31, with full-year distribution of 97.1c apiece, compared with 92c apiece in the prior year. The board declared a gross dividend of 49.8c apiece... →

Brick and mortar retail not dying a slow death – US property developer

By: Marleny Arnoldi 1st November 2018 Private commercial real estate investor and operator Rainier Companies principal Danny Lovell says brick and mortal retail is here to stay, despite rapid growth in sales on e-commerce platforms. “It is easy to get caught up in the ‘retail Armageddon’ story and it clearly has created . . .... →

Emira Property Fund CEO Geoff Jennett

Three Joburg properties open for public tender as part of inner city rejuvenation

By: Tasneem Bulbulia 26th October 2018 The City of Joburg (CoJ) has released information about three inner city properties that are now open for public tender by potential developers, as part of its inner-city rejuvenation project that comprises over 80 buildings and plots for renovation. This project aims to fulfil the city’s vision... →

City of Cape Town delays decision on social housing project

By: News24Wire 26th October 2018 The Cape Town City council was scheduled on Thursday to announce its decision on the sale of City-owned land to housing non-profit organisation Communicare for redevelopment for social housing, GroundUp has reported. But the decision was pushed back to the next council meeting because "the DA... →

Giuricich Bros secures Vukile investment for new prime offices

By: African News Agency 25th October 2018 Family-owned construction firm Giuricich Bros said on Thursday JSE-listed retail real estate investment trust Vukile Property Fund had acquired a substantial section of its new premium-grade offices in Rosebank. Giuricich began work on the 6 400 m2 office block development in September 2017 and... →

Octodec focuses on tenant retention, property value-add in challenging market

By: Marleny Arnoldi 22nd October 2018 JSE-listed real estate investment trust Octodec has declared a 203.4c distribution a share for the financial year ended August 31, which is nearly unchanged from the 203.1c a share distribution reported for 2017. Net asset value per share also remained virtually unchanged at R29.39, compared... →

Octodec MD Jeffrey Wapnick

Calgro M3 remains committed to delivering shareholder value despite current challenges

By: Simone Liedtke 22nd October 2018 In a period described by CEO Wikus Lategan as one of the most difficult ever experienced by the company, JSE-listed Calgro M3 posted revenue of R628.6-million for the six months ended August 31. Calgro M3 faced several major challenges, including uncertainty over the economy, coupled with... →

Divercity invests R2bn in Absa Towers, Jewel City redevelopments as part of inner city rejuvenation

18th October 2018 Divercity Urban Property Fund is investing R2-billion in two redevelopment projects – the Absa Towers Main building and Jewel City – in Johannesburg, as part of its strategy to create thriving mixed-use inner city precincts. Tasneem Bulbulia tells us more. →

Divercity invests R2bn in Absa Towers, Jewel City redevelopments as part of inner city rejuvenation

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