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Property News
Redefine boosts cash generation, declares dividend
By: Donna Slater 8th November 2021 With a focus on derisking its balance sheet and bolstering liquidity, JSE-listed real estate investment trust Redefine Properties has increased its cash and committed access facilities from R2.8-billion in the 2020 financial year, to R5.8-billion for the financial year ended August 31. As such,... →
Redefine Properties appoints new company secretary
By: Donna Slater 3rd November 2021 JSE-listed diversified real estate investment trust Redefine Properties has appointed Anda Matwa as company secretary, effective December 1. She joins Redefine from industry peer Attacq where she was the company secretary. →

Growthpoint, Rubicon stress the environmental advantages of renewables in green buildings
By: Simone Liedtke 29th October 2021 US automotive manufacturer Tesla’s South African partner Rubicon Group and JSE-listed Growthpoint Properties have joined forces to highlight the environmental advantages of making use of renewable energy to provide some of the power requirements of buildings, such as Growthpoint’s 144 Oxford, in... →

More than 30 developments in the pipeline in Cape Town CBD
By: Irma Venter 29th October 2021 The economy of the Cape Town central business district (CBD) remained stable in 2020, despite Covid-19, with the official nominal value of all property set at R43.8-billion by the City of Cape Town, and with 31 new developments worth more than R6.9-billion in the pipeline. This is the key finding... →
Company prepared to meet increased localisation demand
By: Cameron Mackay 29th October 2021 Demand for logistics storage space remains high, as the e-commerce consumer base continues to grow year-on-year, amid the challenges caused by Covid-19, says design business Paragon Architects director Estelle Meiring. She stresses that the pandemic has exposed the vulnerability of extended and... →

Storage flexibility shown during turbulent time
By: Cameron Mackay 29th October 2021 Logistics company Unitrans has shown flexibility in meeting the warehousing and storage needs of customers – particularly amid the effects of Covid-19, and the looting in KwaZulu-Natal and Gauteng in July, on the local market – says Unitrans specialised warehousing and freight GM Ryan Brooke.... →

Courtyard Hotel reinvents itself for competitive edge following pandemic
By: Tasneem Bulbulia 28th October 2021 City Lodge Hotel Group’s (CLHG’s) new Courtyard Hotel Waterfall City, in Midrand, which opened on March 1, offers a full dining experience, a move away from a breakfast-only offering. This represents the vision for the group moving forward. →

Courtyard Hotel interior design
Otis Tshabalala to succeed Ngebulana as Rebosis CEO
By: Schalk Burger 25th October 2021 JSE-listed real estate investment trust (Reit) Rebosis Property Fund has announced that CEO and founder Dr Sisa Ngebulana will step down and retire with effect from December 1 when Otis Tshabalala's term as CEO will start. Ngebulana positioned the business as a retail-focused fund valued at... →
Rebosis plans to sell commercial office portfolio for R6.3bn
By: Simone Liedtke 22nd October 2021 JSE-listed Rebosis Property Fund has entered into a sales agreement with Ulricraft, which could result in the company disposing of its commercial office portfolio for R6.3-billion. Ulricraft is a special purpose behicle (SPV) wholly owned by Vunani Capital Partners (VCP), a company listed on... →
Balwin records robust half-year performance
By: Tasneem Bulbulia 20th October 2021 JSE-listed Balwin Properties says it recorded robust financial results for the six months ended August 31, with revenue of R1.3-billion, a 41% increase on the revenue of R929.6-million reported for the prior comparable period, which had been impacted on by Covid-19-related measures. Operating... →
Calgro M3 ahead of years-long net debt reduction targets
By: Marleny Arnoldi 18th October 2021 Property developer and investor Calgro M3 says it has come a long way since its portfolio streamlining and transformation efforts started in 2016, particularly as the company is also coming out of what had been heavy Covid-19 impacts. The group posted a 262% increase in headline earnings a... →

Dipula agrees transaction with Resilient to optimise capital structure
By: Tasneem Bulbulia 15th October 2021 South-African focused diversified real estate investment trust (Reit) Dipula Income Fund has concluded formal agreements with Resilient Reit, which is intended to help Dipula optimise its capital structure and unlock shareholder value. In terms of the transaction, Dipula will acquire 50% of the... →
More than 30 developments in the pipeline in Cape Town CBD – report
By: Irma Venter 14th October 2021 The economy of the Cape Town central business district (CBD) remained stable in 2020, despite Covid-19, with the official nominal value of all property set at R43.8-billion by the City of Cape Town, and with 31 new developments worth more than R6.9-billion in the pipeline. This is the key finding... →

House price growth continued to slow in September – FNB
By: Schalk Burger 11th October 2021 The slowing trend in house price growth continued in September, with financial services company FNB's House Price Index decelerating to 3%, from 3.6% in August. This means house price growth averaged 3.5% in the third quarter of this year, down from a peak of 4.8% in the second quarter. →
Equites’ logistics portfolio delivers exceptional growth
By: Simone Liedtke 5th October 2021 JSE-listed property developer Equites Property Fund remains on track to deliver on its dividends per share (DPS) guidance of between 5% and 6% growth for the 2022 financial year. For the same period, Equites is also targeting a positive net asset value per share (NAVPS), which will be supported... →
Research shows where, how housing developments are built impact on residents' carbon footprints
By: Creamer Media Reporter 30th September 2021 A new quantitative study on the impact of the location of housing development in Johannesburg on carbon emissions - by the research partnership of Divercity Urban Property Fund and the Green Building Council South Africa (GBCSA) - shows that where and how housing is built in the city has a... →
Physical retail outlets, online channels needed to serve evolving retail client needs, says Redefine
By: Schalk Burger 30th September 2021 Although transactions are increasingly moving online, physical outlets remain crucial to effectively serve retail customers, real estate investment trust Redefine Properties national retail asset manager Nashil Chotoki said this week. He told investors during a briefing on September 29 that, to... →
Western Cape turns the sod at three integrated human settlement developments
By: Yvonne Silaule 20th September 2021 Western Cape Human Settlements Minister Tertuis Simmers last week presided over three sod turnings as part of the development that forms part of the Integrated Residential Development Programme (IRDP). The Blompark housing development, in Gansbaai, which has a budget allocation of just over... →
GBCSA congratulates Redefine on 40 Green Star certifications
By: Tasneem Bulbulia 17th September 2021 JSE-listed South African real estate investment trust (Reit) Redefine Properties recently certified and recertified 40 buildings in its property portfolio, under member-based organisation the Green Building Council South Africa’s (GBCSA’s) Green Star Existing Building Performance (EBP) rating... →
Competition Tribunal approves Growthpoint, Feenstra Group merger
By: Simone Liedtke 17th September 2021 The Competition Tribunal has unconditionally approved the large merger whereby Growthpoint Properties will acquire Joburg Stay from Feenstra Group. This transaction involves an internal reorganisation of the Feenstra Group. As such, the target firms are Joburg Stay, seven Gauteng student... →
Growthpoint achieves revenue growth but lower distributable income
By: Simone Liedtke 15th September 2021 JSE-listed Growthpoint Properties’ distributable income, on a per share basis, declined by 19.1% to 148.1c for the financial year ended June 30, mainly as a result of 408-million new shares having been issued in an oversubscribed equity raise of R4.3-billion in November last year. During the same... →
EPP swings to profit in H1
By: Marleny Arnoldi 15th September 2021 JSE-listed real estate investment trust (Reit) EPP has managed to grow its distributable earnings a share for the six months ended June 30 by 54% year-on-year to €0.0366. During the six months, it also added four retail parks to its portfolio. →

Hyprop advances its strategy
By: Tasneem Bulbulia 15th September 2021 JSE-listed real estate investment trust Hyprop Investments says it has made good progress in executing its strategy for the year ended June 30. It has moved ahead on all its priorities, including strengthening the balance sheet, advancing the implementation of its non-tangible strategy with the... →
Attacq withholds dividend for the sake of Waterfall City development
By: Marleny Arnoldi 14th September 2021 JSE-listed real estate investment trust (Reit) Attacq has reported strong distributable income growth from its South African operations for the financial year ended June 30 However, group distributable income decreased by 35.9% year-on-year to 46.8c a share. →

Fairvest records strong full-year performance
By: Tasneem Bulbulia 13th September 2021 JSE-listed Fairvest Property Holdings delivered a guidance-beating 5% increase in distributions a share to shareholders of 22.06c for the financial year ended June 30. The company on September 13 noted that it had been a challenging period for retail-focused real estate investment trusts (Reits)... →
Rosebank developments require greater city involvement 
8th September 2021 The Rosebank node has enjoyed much success and years of developments; however, there are a number of challenges that require further support from the City of Johannesburg to mitigate, and to bolster further developments in the area. Tasneem Bulbulia tells us more. →
Fortress acquires first logistics park in Romania
By: Simone Liedtke 7th September 2021 Real estate investment trust (Reit) company Fortress Reit has concluded its first logistics acquisition in Romania, after reaching an agreement with Element Industrial and Paval Holding for Eli Park 1, an A-grade industrial development, located in Buftea-Chitila. Fortress’ long-term strategy to... →

Swindon’s African Cities Insights report shows positive signs for the property sector
By: Tasneem Bulbulia 6th September 2021 Almost no commercial property sector in the world has not been impacted on by the pandemic, with many African cities struggling with high vacancy rates. There are, however, positive signs of a rebound, says commercial and industrial real estate company Swindon Property in its first 'African... →
Balwin initiates BEE deal
By: Marleny Arnoldi 6th September 2021 JSE-listed Balwin Properties has received shareholder approval for the implementation of a black economic empowerment (BEE) transaction. CEO Steve Brookes says he haS been working on a suitable empowerment transaction since the company’s listing on the JSE early in 2016, and is delighted about... →

Investec inks agreement to finance two major hospitals in Ghana
By: Simone Liedtke 2nd September 2021 Investec Bank has announced the signing of a €215-million agreement to finance two major hospital projects in Ghana. The financing comprises two loans in favour of Ghana’s Ministry of Finance, with Investec having acted as sole mandated lead arranger (MLA) for both loans. →

Hyprop expects to report full-year loss
By: Simone Liedtke 30th August 2021 Specialised shopping centre real estate investment trust (Reit) Hyprop has advised that it expects its distributable income per share to be between 326c and 346c for the financial year ended June 30. This, the company said on August 30, is between 147c and 167c or between 30% and 34% lower than... →
Rubicon to make the move to Richmond Park development
By: Simone Liedtke 27th August 2021 Sustainable technology company Rubicon will combine its operations, currently spread across six different locations in Cape Town, into one tailor-made multimillion-rand facility that includes a 7 900 m2 warehouse and 1 400 m2 of offices incorporating a 250 m2 showroom. Construction of the... →

Resilient proposes R1bn investment in Dipula Income Fund
By: Simone Liedtke 27th August 2021 Real estate investment trust (Reit) Resilient has proposed investing in JSE-listed Dipula Income Fund, but only if Dipula first simplifies its dual share capital structure. Resilient envisages that it will co-own suitable retail assets with Dipula and will continue to support Dipula to play a... →
Opportunities for women in the property valuation sector
By: Anna Moross 27th August 2021 The South African Institute of Valuers (SAIV) emphasises the importance of women being recognised as equal players among their male counterparts in the field of valuation and property. →

Redefine to lose $8m from rental relief, deferrals in 2021
By: Reuters 25th August 2021 South Africa's Redefine Properties said on Wednesday it will lose an estimated 125 million rand ($8.4 million) from rental relief and deferrals for the 2021 financial year due to the impact of the coronavirus but may pay an annual dividend. South African commercial real estate has been among the... →
Rosebank developments thriving, but greater city involvement required
By: Tasneem Bulbulia 25th August 2021 The Rosebank node has enjoyed much success and years of developments; however, there are a number of challenges that require further support from the City of Johannesburg to mitigate, and to bolster further developments in the area. This was the key message emerging from a Rosebank media walk,... →

Radisson RED Johannesburg Rosebank
Inclusive property development necessary to address South Africa's socioeconomic issues - ASAQS
By: Schalk Burger 23rd August 2021 In the wake of the July incidences of looting and destruction, South Africa needs to rethink the role property development can play in addressing a variety of socioeconomic issues, says Association of South African Quantity Surveyors (ASAQS) VP Mosha Senyolo. “We should have conversations about... →
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