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Property News

Redefine lifts full-year distributions a share by 4%

By: Tasneem Bulbulia 4th November 2019 JSE-listed real estate investment trust (Reit) Redefine Properties has lifted its distributable income for the financial year ended August 31 by 4% year-on-year to 101c a share, with total group assets exceeding R100-billion for the first time. Moreover, this marks the first time that full-year... →

Steyn City luxury lifestyle development launches own app

By: Simone Liedtke 31st October 2019 The Steyn City luxury lifestyle development, in Gauteng, is tapping into the demands of the Fourth Industrial Revolution (4IR), while keeping its promise of “creating a lifestyle like no other”, through the release of its Steyn City mobile application (app) for residents. With the intention of... →

R110m for refurbishments to MPs' houses and R540m for improvements at Parliament

By: News24Wire 31st October 2019 After spending almost three-quarters of a billion rand on the three parliamentary villages, its upkeep and transport the past 10 years, the Department of Public Works is planning another project, worth R110-million, to refurbish houses for MPs. The department is also planning to demolish and... →

Steyn City to invest a further R5.5bn into luxury lifestyle development

By: Simone Liedtke 30th October 2019 In unveiling Steyn City’s Vision 2020 guideline on Wednesday, Steyn City Properties revealed that it intends to invest a further R5.5-billion into its flagship Steyn City luxury lifestyle development, in Gauteng. The development’s City Centre is nearing completion, while the first 220 housing... →

Two-thousand-bed student housing project set for completion in October 2020

By: Marleny Arnoldi 29th October 2019 Student accommodation group STAG African is progressing the development of the largest student housing project ever undertaken by a South African public university, at the University of Fort Hare, in the Eastern Cape. The project is being funded by the Department of Higher Education and... →

Octodec further streamlines portfolio, meets dividend guidance

By: Marleny Arnoldi 29th October 2019 JSE-listed real estate investment trust Octodec Investments has declared a 200.9c a share distribution for the financial year ended August 31, compared with the 203.4c a share distribution reported for 2018. MD Jeffrey Wapnick on Tuesday said this was against prevailing poor economic and... →

Octodec MD Jeffrey Wapnick

Work on Cape Town’s Harbour Arch to start imminently

By: Simone Liedtke 28th October 2019 The City of Cape Town has, following the Municipal Planning Tribunal meeting last week, approved the R14-billion Harbour Arch mixed-use precinct. Buoyed by the outcome, property development, investment and project management group →

Nedbank CIB concludes major deal in Ghana

By: Tasneem Bulbulia 24th October 2019 Nedbank CIB Property Finance Africa has concluded a $37.5-million transaction in Accra, Ghana, for the Actis Africa Real Estate Fund. The facility involved taking over the debt from another financial institution as a precursor to a portfolio refinance structure involving five assets across four... →

Emira to grow US asset base to 15% of its overall portfolio

By: Simone Liedtke 23rd October 2019 JSE-listed real estate investment trust (Reit) Emira Property Fund is planning for its US assets to make up 15% of its overall portfolio in the next two years. Its US investments, mainly grocery-anchored convenience retail centres, already make up about 8% of the overall portfolio. →

Giflo Medical invests R130m in upgrading two healthcare facilities

By: Tasneem Bulbulia 22nd October 2019 Commercial and medical property developer Giflo Medical is investing R130-million in expanding and upgrading two adjacent medical facilities – the Cormed private hospital and the Envision Centre for Sight – located within an established medical precinct in Vanderbijlpark, Gauteng. Both serve the... →

Atterbury launches new co-working concept

By: Tasneem Bulbulia 21st October 2019 Property firm Atterbury Property is making its first foray into shared workspaces with its new Attspace co-working concept, which debuted at the La Gratitude Manor House on Stellenbosch’s historic oak-lined Dorp street. “Attspace is Atterbury’s first venture into the exciting world of co-working.... →

The exterior

Calgro M3 perseveres through difficult economic times

By: Simone Liedtke 21st October 2019 JSE-listed Calgro M3 will, in the months ahead, continue to focus on effective liquidity management, by giving careful consideration to the best use of the group’s cash on each project and considering any downside risks, given the current unstable and uncertain South African economic and... →

Balwin records good interim sales despite tough economic climate

By: Tasneem Bulbulia 21st October 2019 JSE-listed Balwin Properties continued to experience strong demand for its lifestyle apartments in the six months ended August 31, despite ongoing economic headwinds and the financial pressure facing consumers. During the six months under review, the company continued to focus on cash... →

Stenprop acquires two industrial estates in UK

By: Simone Liedtke 18th October 2019 Dual-listed property investment company Stenprop has acquired two industrial estates in Glasgow and Wolverhampton, in the UK, in separate transactions, for £7.1-million. The first of the two new estates is the Western Campus at the Strathclyde Business Park, in Glasgow, which was acquired from... →

Hydraulic cylinder manufacturer boosts factory optimisation

18th October 2019 Hydraulic cylinder specialist Hytec Engineering is the latest in the group to optimise its manufacturing and repairs operation. →

Construction begins on Ekhaya Mall in Mpumalanga

By: Tasneem Bulbulia 14th October 2019 Construction has started on the new R216-million Ekhaya Mall, in Embalenhle, Mpumalanga. The R172-million Phase 1 development, including Cashbuild and a Sasol filling station, is expected to bring shopping convenience to the community of Embalenhle, Secunda, in the coalfields of Mpumalanga, when... →

Mall architectural perspective

Redefine to start search for new COO

By: Simone Liedtke 14th October 2019 JSE-listed Redefine Properties’ COO David Rice will retire on August 31, 2020, after more than a decade of service. Rice has been responsible for helping drive leasing and asset improvement goals for the company and has over 30 years’ experience in the property sector, the real estate investment... →

Equites’ distributable earnings rise in interim period

By: Simone Liedtke 10th October 2019 Real estate investment trust (Reit) Equites Property Fund achieved a 31.1% year-on-year increase in distributable earnings for the six months ended August 31. On a per-share basis, dividends increased by 9.3% to 74.43c, compared with 68.12c in the prior comparative period. →

Johannesburg council plans to table new draft housing policies

By: African News Agency 9th October 2019 The city of Johannesburg will in coming months table drafts on three new housing policies to guide processes in allocating reconstruction and development programme (RDP) houses, giving people serviced sites to build their own homes and providing temporary emergency accommodation to those in need,... →

Atterbury starts development of R6bn Castle Gate precinct

By: Creamer Media Reporter 4th October 2019 Construction has started on the first phase of the multibillion-rand Castle Gate mixed-use precinct in Pretoria. The precinct is being co-developed by Atterbury Property Fund (APF) and The Carl Erasmus Trust. APF is co-owned by property developer and investor Atterbury, its management and... →

FNB unveils first phase of revamped BankCity precinct

3rd October 2019 Banking giant First National Bank in September unveiled the first phase of its BankCity campus revitalisation project in the Johannesburg CBD. Tasneem Bulbulia tell us more. →

FNB unveils first phase of revamped BankCity precinct

African real estate market presents opportunities – summit

By: Tasneem Bulbulia 2nd October 2019 The African real estate market is growing and maturing, albeit with different trajectories and challenges in the various regions, African Property Investment events MD Kfir Rusin said on Wednesday. He was speaking on day one of the API Summit, in Johannesburg. →

Healthcare, agriculture and education driving demand for property development in Africa

By: Tasneem Bulbulia 2nd October 2019 There are opportunities for real estate developments in the African healthcare, agriculture and education sectors, Knight Frank United Arab Emirates researcher Tilda Mwai told delegates at the Africa Property Investment (API) Summit, in Johannesburg, on Wednesday. Increasing household income,... →

Stadio in agreement to buy land worth R110m in Centurion for new private university

By: News24Wire 2nd October 2019 Private higher education investment company Stadio has entered into an agreement to buy 5.2 ha of land for R110-million in Centurion to build a 4 000-person "multiversity" which it hopes will open in 2021. In an update to shareholders on Tuesday, the JSE-listed group said the purchase is subject... →

Pilot solution could be ‘silver bullet’ to beetle threat

By: Simone Liedtke 27th September 2019 JSE-listed Emira Property Fund and newly formed Beetle Busters have successfully registered a “groundbreaking” treatment for the infestation of the polyphagous shot hole borer (PSHB), or Euwallacea fornicates, that has been killing trees in some areas of the country. The PSHB relies on fungus,... →

Emira’s Hyde Park Lane Office Park

Abland to start Irene Link Phase 2 construction in Oct

By: Tasneem Bulbulia 27th September 2019 Property developer Abland, and its partners on the Irene Link development, Giflo and SOM, will break ground on the second phase of the commercial development at the Irene Link precinct in Pretoria, in October. The 8 500 m² commercial building will be ready for occupation in October 2020. →

Irene Link Building B

City of Johannesburg won't turn on water at Sandton Gautrain station until owners pay R8m

By: News24Wire 23rd September 2019 The City of Johannesburg is not prepared to entertain the Sandton Gautrain station's landlord, Cedar Park Properties, even in a court of law, until it pays R8-million the City claims it owes, Mayor Herman Mashaba says. Mashaba told News24 on Monday: "Be guaranteed, for as long as we don't get our... →

3 500 new bed spaces for Unizulu in next three years, says Nzimande

By: African News Agency 23rd September 2019 The University of Zululand had been encouraged to urgently start on the construction of 3,500 new bed spaces using the money that had recently been made available to it, Higher Education Minister Blade Nzimande said on Monday. Nzimande said that R230-million had been transferred to the university... →

Marriott International expects to add 40 new properties across Africa by 2023

By: African News Agency 23rd September 2019 Global hotel group Marriott International said on Monday it expected to add 40 properties and over 8 000 rooms across Africa by the end of 2023 and also announced agreements to open its first property in Cape Verde and expand its presence in Ethiopia, Kenya and Nigeria. In a statement, Marriott... →

City of Joburg launches investigation into sale of Sandton Gautrain land

By: News24Wire 20th September 2019 The City of Johannesburg has kicked off a full forensic investigation into an apparent dodgy sale of the land where the Sandton Gautrain Station is situated. In a statement released on Thursday, executive mayor, Herman Mashaba, said damning information came to light during a billing issue with... →

HVAC-R system to be introduced to S Africa in Q1 2020

By: Cameron Mackay 20th September 2019 Diversified technology company Johnson Controls will introduce Verasys – the first plug-and-play control system that integrates heating, ventilation, air-conditioning and refrigeration (HVAC-R) equipment and controls – to the South African market in the first quarter of next year. Johnson... →

Sprinklers and ventilation systems must work in harmony

By: Tracy Hancock 20th September 2019 Sprinkler and ventilation systems are essential parts of a building’s fire-protection system and need to operate in harmony with each other to ensure its holistic operation, says fire risk management company ASP Fire CEO Michael van Niekerk. “Many people don’t understand the value of employing... →

SAFETY IN HARMONY Sprinkler and ventilation systems need to work together to preserve life, as well as the building they protect

Africa's tallest building nearing completion

By: Donna Slater 19th September 2019 Situated in the heart of Sandton's business district and standing taller than any other building in Africa, at 234 m, The Leonardo is only a couple of weeks away from being officially unveiled. The Leonardo is the latest venture by property developer the Legacy Group and was built in partnership... →

Luxury residential high-rise being developed

19th September 2019 Residential property developer Tricolt and JSE-listed real estate investment trust Attacq have started building the Ellipse luxury residential high-rise, which will comprise four buildings in the Waterfall City precinct, in Midrand. Schalk Burger has the story. →

Luxury residential high-rise being developed

First Radisson Red hotel in Johannesburg to open in Feb 2021

By: Creamer Media Reporter 18th September 2019 Radisson Hotel Group will open its first Radisson Red hotel in Johannesburg in February 2021. The hotel will be located in Oxford Parks, a mixed-use precinct comprising offices, apartments and supporting retail and restaurants, in Rosebank. →

Multibillion-rand capex boost in pipeline for OR Tambo airport

By: Irma Venter 17th September 2019 Work on the engineering and construction of remote apron stands at the OR Tambo International Airport (ORTIA) should start this year, with the R2.4-billion project scheduled for completion in 2022, says Airports Company South Africa (ACSA) acting CFO Lindani Mukhudwani. The remote apron stands... →

Durban Aerotropolis to drive investment across KwaZulu-Natal

By: Shirley le Guern 16th September 2019 The proposed R1-trillion Durban Aerotropolis would be the hub of the KwaZulu-Natal economy and would not only connect the country’s second-largest economy with the rest of Africa and the world, but also drive billions worth of investment across the province, Premier Sihle Zikalala told guests at... →

KwaZulu-Natal Premier Sihle Zikalala

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