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Property News

Sapoa to research root causes of planning delays in various municipalities

By: Marleny Arnoldi     12th October 2018 South African Property Owners Association (Sapoa) CEO Neil Gopal says property sector role-players are experiencing significant challenges in some municipalities with regard to building plan application processes and land use/zoning. These challenges lead to a number of issues impacting on the... 

Equites reports solid growth in H1 distributions a share, strategic acquisitions

By: Marleny Arnoldi     11th October 2018 Despite a challenging economic climate, JSE-listed real estate investment trust Equites Property Fund's portfolio continued to perform well during the six months ended August 31, which translated into an 11.7% year-on-year growth in distributions a share. Distributions a share for the period... 

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

By: Tasneem Bulbulia     10th 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. This investment is the largest into the Johannesburg central business... 

Divercity invests R2bn in Absa Towers, Jewel City redevelopments as part of inner city rejuvenation
Talis Property Fund chairman Tebogo Mogashoa outlines Divercity Urban Property Fund’s investment of R2-billion in the ABSA Towers Main building and Jewel City redevelopments for inner-city rejuvenation; and executive Mayor of the City of Johannesburg Herman Mashaba emphasises the city’s support for these projects. Video: Nicholas Boyd: Editing: Christo Greyling

Emira concludes portfolio rebalancing with BEE deal, acquisition of Transcend stake

By: Tasneem Bulbulia     9th October 2018 Emira Property Fund is selling a sizeable R1.8-billion portfolio of 25 office assets to a new majority black-owned entity, Shankly Property Investments, which was specifically set up for this purpose. This concludes the diversified real estate investment trust’s (Reit’s) programme of rebalancing... 

Emira concludes major portfolio rebalancing with landmark R1.8bn BEE deal

By: Tasneem Bulbulia     9th October 2018 Emira Property Fund is selling a sizeable R1.8-billion portfolio of 25 office assets to a new majority black-owned entity, Shankly Property Investments, which was specifically set up for this purpose. This concludes the diversified real estate investment trust’s (Reit’s) programme of rebalancing... 

Prinsloo to head Redefine's new Europe division

By: Creamer Media Reporter      3rd October 2018 JSE-listed real estate investment trust Redefine Properties has appointed Hyprop Investments CEO Pieter Prinsloo to head up Redefine Europe, effective February 1, 2019.   “The new role was necessitated as Redefine advances its geographic diversification strategy through direct investment in... 

Group Five announces R1.43bn loss, Teixeira resigns

By: Irma Venter     2nd October 2018 Group Five will focus on its Developments & Investments (D&I) and Operations & Maintenance (O&M) businesses going forward, with a “de-emphasis” on the Construction and Engineer, Procure and Construct (EPC) businesses. This “de-emphasis” did not mean Group Five was walking away from construction,... 

Group Five announces R1.43bn loss, Teixeira resigns
Cristina Teixeira

City of Cape Town to spend over R2bn on new housing – De Lille

By: African News Agency      2nd October 2018 The city of Cape Town’s Transport and Urban Development Authority (TDA) will spend over R2-billion on new housing over the next three financial years, with over R500-million budgeted for 2018/19, mayor Patricia de Lille said on Tuesday. In a statement, de Lille said the 2018/19 budget was... 

City of Cape Town to spend over R2bn on new housing – De Lille
Photo by Reuters
Cape Town Mayor Patricia de Lille

Texton declares dividend despite ‘tough’ market conditions

By: Tasneem Bulbulia     1st October 2018 Despite facing some of the toughest challenges in its history, Texton Property Fund declared a final dividend of 41.36c a share for the financial year ended June 30. The total dividend for the year amounted to 89.31c, below guidance, and lower than the total dividend of 102.8c declared in the... 

Clearer disclosure for reporting metrics on the way for listed property sector

By: Marleny Arnoldi     1st October 2018 The South African Real Estate Investment Trust (Reit) sector is getting an update regarding best practice recommendations, to make financial reporting of Reits clearer and more comparable, while bringing the listed property sector on par with Reit structures around the world. The South African... 

Clearer disclosure for reporting metrics on the way for listed property sector
SA Reit chairperson Izak Petersen

Hyatt Hotels to more than double its Africa hotels by 2020

By: Reuters     26th September 2018 Hyatt Hotels Corp plans to more than double its hotels in Africa by 2020 to capitalise on improved travel links and robust economic growth that is boosting demand for rooms, the company's regional vice president said on Wednesday. Hyatt currently has nine hotels in Africa but lags far behind... 

Three UCT lecturers participate in international Solar Decathlon competition

By: Simone Liedtke     26th September 2018 Thee lecturers from the University of Cape Town (UCT) are part of Team Mahali, the only team representing sub-Saharan Africa in the international Solar Decathlon competition, which will be held in Morocco next year. The Solar Decathlon is an international competition to design and build a fully... 

Greater demand for transparency needed in African real estate industry

By: Simone Liedtke     20th September 2018 There is a growing acknowledgement of the central role that a transparent real estate sector plays in providing healthy, productive and competitive environments for communities and businesses, investment management company JLL global research head Jeremy Kelly said on Thursday. Market... 

Abland to develop combined-use Menlyn Maine Towers

By: Schalk Burger     19th September 2018 Property developer Abland will develop a combined motor dealership and premium office space, called Menlyn Maine Towers, in Pretoria, and aims to achieve a 4-star green rating accreditation with the Green Building Council of South Africa. The development for the Barloworld Toyota Menlyn... 

Tower Property acquires prime industrial property in Croatia

By: Simone Liedtke     17th September 2018 Tower Property Fund’s Croatian subsidiary TPF International has acquired a prime industrial property in Zagreb, Croatia, for nearly €8.6-million. TPF will fund the purchase price, which is payable in cash on the transfer date, using 60% cash and 40% shares. 

Texton appoints interim CEO

By: Simone Liedtke     17th September 2018 Marius Muller has been appointed interim CEO at JSE-listed Texton Property Fund. He takes over from Nosiphiwo Balfour. 

New road paves way into one of the biggest industrial estates in South Africa  

By: Marleny Arnoldi     17th September 2018 JSE-listed real estate investment trust Redefine Properties, together with Abland Property Developers, on Monday unveiled the completed new public road that will improve accessibility to the S&J industrial estate, situated along the N3 highway, south of Germiston, in Gauteng. The construction of... 

New road paves way into one of the biggest industrial estates in South Africa
S&J industrial estate, in Germiston Gauteng

Poland says door open for South African investors 

By: Simone Liedtke     14th September 2018 Poland is open for business and remains committed to open trade between Poland and South Africa, Polish Ambassador to South Africa Andrzej Kanthak said on Friday. Speaking to delegates at the JSE’s first country investment day, in Johannesburg, which focussed on business relations between South... 

Tongaat's Ntshongweni urban development gets go-ahead

By: African News Agency      12th September 2018 Agricultural group Tongaat Hulett says it has all approvals in place for its Ntshongweni urban development after 20 years of planning. Tongaat said on Tuesday breaking ground on the mixed use development was due to commence in the first quarter of 2019. 

Attacq delivers maiden distribution of 74c

By: Tasneem Bulbulia     11th September 2018 Real estate investment Trust (Reit) Attacq delivered a maiden distribution of 74c apiece for the financial year ended June 30, exceeding market guidance. This comes on the back of the company’s conversion to a Reit in May. 

Liberty Two Degrees harnesses experienced staff to drive asset efficiency

By: Marleny Arnoldi     10th September 2018 Precinct-focused real estate investment trust (Reit) Liberty Two Degrees (L2D) has added to its team of experienced asset managers, with Carmen Collison now managing the Eastgate shopping centre, in east Johannesburg. Collison previously managed retail assets across a number of listed... 

Stor-Age to acquire self-storage properties in major cities for R58m

By: Marleny Arnoldi     10th September 2018 JSE-listed real estate investment trust Stor-Age has entered into agreements to acquire Roeland Street Investments 2 (RSI2) and Roeland Street Investments 3 (RSI3), for R58-million. RSI2 is being sold by Acucap Investments – a subsidiary of Growthpoint Properties, Stor-Age Property Holdings... 

Fortress secures blue-chip tenant Vodacom for Louwlardia logistics park

By: Marleny Arnoldi     10th September 2018 Real estate investment trust Fortress has secured telecoms and services provider Vodacom as a new tenant at its Louwlardia logistics park development, in Centurion, Gauteng, on a five-year lease, with the option to renew for a further five years. Vodacom will occupy a 17 000 m2 warehouse at... 

There are deliberate attempts to sabotage government buildings – Nxesi 

By: African News Agency      7th September 2018 There are deliberate acts to sabotage government buildings through arson, Public Works Minister, Thulas Nxesi, said on Friday. Nxesi was speaking at a media briefing in Pretoria, accompanied by Health Minister, Aaron Motsoaledi. 

 There are deliberate attempts to sabotage government buildings – Nxesi
Photo by Creamer Media
Public Works Minister Thulas Nxesi

EPP reports strong portfolio, income growth

By: Marleny Arnoldi     7th September 2018 JSE-listed Polish property company EPP has declared a distribution growth of 12% apiece to 5.82c for the six months ended June 30, compared with 5.19c in the first half of 2017, placing the company on track to deliver full year dividends of between 11.6 and 11.8c apiece. EPP’s results show... 

EPP reports strong portfolio, income growth
EPP CEO Hadley Dean

Aveng expects to wrap up noncore disposals by June 2019

By: Terence Creamer     7th September 2018 Embattled construction group Aveng expects to finalise the disposal of all noncore businesses by June 2019. Following a strategic review, the JSE-listed company identified Aveng Trident Steel, Aveng Grinaker-LTA, Aveng Manufacturing, as well as certain properties and other assets, for sale. 

Aveng expects to wrap up noncore disposals by June 2019

Green light for affordable Cape Town housing near V&A Waterfront

By: African News Agency      5th September 2018 Western Cape Premier Helen Zille on Tuesday said she "welcomed" the green light for affordable housing close to the V&A Waterfront in Cape Town. He comments follow the rezoning approval received by the provincial government to develop affordable housing on one of South Africa’s most valuable... 

Maiden's Cove development under fire

By: News24Wire      5th September 2018 A R1.5-billion plan by the City of Cape Town to develop Maiden's Cove – a scenic headland and beach between Clifton Fourth Beach and Glen Beach in Camps Bay – is facing a court challenge from City residents, GroundUp reports. The development of the cove area, devised in 2015, includes plans for... 

Distressed SA market to be offset by UK acquisitions, says WBHO

By: Irma Venter     4th September 2018 A South African construction company that still makes a profit is a rare sight these days, yet Wilson Bailey Holmes-Ovcon (WBHO) this financial year yet again managed to buck the depressing trend of failing domestic construction companies, owing largely to gains made in geographies outside South... 

Distressed SA market to be offset by UK acquisitions, says WBHO
Louwtjie Nel

Fairvest maintains solid results for FY18

By: Simone Liedtke     4th September 2018 South African real estate investment trust Fairvest Property on Tuesday announced solid results for the year ended June 30, with annual distributions increasing by just over 9.9% to 20.15c a share. Fairvest continues to deliver sector-beating growth in distributions, while advancing the portfolio... 

Hotel group Hilton opens $100m Society Business Park in Zambian capital

By: African News Agency      4th September 2018 Luxury hotel group Hilton has opened the refurbished 20-floor mixed-use development Society Business Park which houses Hilton Garden Inn in the Zambian capital Lusaka. In 2011, Zambia National Building Society (ZNBS) and the National Pension Scheme Authority (NAPSA) entered into a 20-year... 

Investec Property to develop R2bn mixed-use precinct at Wanderers Golf Club

By: African News Agency      3rd September 2018 The Wanderers Golf Club has unveiled plans to develop a R2-billion 1 ha mixed-use precinct in Johannesburg's northern suburbs located in Illovo, between Sandton and Rosebank, in partnership with Investec Property. The proposed development will include high-end commercial office space, luxury... 

Hyprop ‘ahead of the market’ with total dividend of 756.5c a share for FY18

By: Simone Liedtke     31st August 2018 JSE-listed real estate investment trust (Reit) Hyprop continued to deliver strong growth in a tough economic environment, with a total dividend a share of 756.5c declared for the financial year to June 30. This growth was 8.8% higher than in the prior financial year, the company said on Friday. 

Hyprop ‘ahead of the market’ with total dividend of 756.5c a share for FY18
Photo by Simone Liedtke
Hyprop executive director Wilhelm Nauta (left) and Hyprop CEO Pieter Prinsloo (right)

Braamfontein student accommodation project halted as contractor faces liquidation

By: Simone Liedtke     30th August 2018 Completion of the 17-storey Braamfontein South Point student accommodation project, in Jorissen street, will, most likely, be delayed by a year and only be ready in time for the start of the 2021 academic year, South Point CFO Johan Wheeler told Engineering News Online this week. Construction on... 

Growthpoint’s distributable income exceeds R6bn for the first time

By: Marleny Arnoldi     29th August 2018 Real estate investment trust Growthpoint Properties announced a 6.5% distribution growth for the year ended June 30, with a final dividend of R1.07 apiece declared, despite weak economic conditions and a competitive market in South Africa. Growthpoint South Africa CEO Estienne de Klerk pointed... 

Growthpoint’s distributable income exceeds R6bn for the first time
Photo by Dylan Slater
Growthpoint Properties group CEO Norbert Sasse

FutureSpace opens second instant-access workspace in Sandton

By: Marleny Arnoldi     29th August 2018 FutureSpace has launched its second workspace, after the first space reached near capacity in just over a year.   FutureSpace is a joint venture between Investec Property and workplace specialists Giant Leap.   The new instant-access space is located in Rivonia, Sandton, a few blocks down from... 

Gemgrow expands its retail property portfolio through R728m investment

By: Marleny Arnoldi     27th August 2018 Real estate investment trust Gemgrow has acquired an effective economic interest of 95% in Moolgem, for about R628-million, yielding 11.48%. The Moolgem portfolio comprises 85% retail, and has 26 properties in the Limpopo region, including retail centres Jane Furse Crossing and Game Centre.  

 

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