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Property News

Steyn City residential estate adds helistop to luxury offering

By: Simone Liedtke     23rd August 2021 Residential estate Steyn City, located between Sandton and Midrand, has launched its Ultimate Helistop – notching a first for residential developments in South Africa. Steyn City was introduced to the market in 2015, setting new standards by offering a living space with unparalleled facilities... 

Emira records strong year despite headwinds

By: Tasneem Bulbulia     18th August 2021 JSE-listed Emira Property Fund has declared a final dividend of 66.65c apiece, taking the dividend for its financial year to June 30 to 118.65c apiece – up 13.7% on the previous year. The company’s full-year distributable earnings of R649.1-million was 3.2% lower year-on-year, but Emira declared... 

Property company the first in South Africa to accept crypto for rental deposits

By: Tasneem Bulbulia     17th August 2021 Affordable residential and student housing specialist Quorum Holdings is the first in South Africa to accept rental deposits in cryptocurrency, and to allow tenants to potentially benefit from an increase in value, the company says in a statement. While rental deposits are standard practice in... 

Growthpoint decides against Globalworth buyout offer

By: Schalk Burger     13th August 2021 JSE-listed real estate investment trust Growthpoint's board has not accepted the offer by Aroundtown SA and CPI Property Group for Central and Eastern Europe real estate company Globalworth, in which Growthpoint holds a 29.4% stake. The Growthpoint board agreed with the independent committee of... 

Cement producers apply for tariff protection against imports

By: Irma Venter     13th August 2021 The domestic cement industry is waiting for a response from the International Trade Administration Commission of South Africa (Itac) on its application for tariffs to be levied on imported cement from certain Asian countries, says PPC Southern Africa MD Njombo Lekula. “The application is with... 

Polish shopping centres join vaccination drive

By: Tasneem Bulbulia     11th August 2021 JSE-listed EPP has joined Poland’s nationwide campaign to promote Covid-19 vaccination by introducing vaccination points and actively promoting vaccination in shopping centres across the country. Nearly 12 000 people have been vaccinated in five EPP shopping centres so far. 

IFC, Letshego Africa partner to increase affordable housing access in Namibia

By: Tasneem Bulbulia     11th August 2021 World Bank Group member the International Finance Corporation has partnered with pan-African finance organisation Letshego Africa to increase access to affordable housing finance for thousands of individuals in Namibia, with the potential to expand its partnership to other countries. The IFC’s... 

Smart buildings and infrastructure data must be designed to protect personal data

By: Schalk Burger     11th August 2021 Smart buildings can yield considerable value when it comes to monitoring occupancy rates and supporting a safe and healthy environment, but it must be remembered that digitally engineered buildings generate a substantially large quantity of data, says construction sector information company... 

Radisson Hotel Middelburg to be the group's sixteenth in South Africa

By: Schalk Burger     10th August 2021 Hospitality multinational Radisson Hotel Group will build its sixteenth hotel in South Africa – the Radisson Hotel Middelburg, which will open at the end of 2023. The hotel is part of the group’s expansion plan in South Africa. It also places the group firmly on track to reach its ambition of... 

Fortress REIT launches R900m sustainability-linked bonds

By: Tasneem Bulbulia     10th August 2021 JSE-listed real estate investment trust (Reit) Fortress Reit has launched R900-million in sustainability-linked bonds, aligned to its ongoing strategic environmental, social and governance plan to scale up its renewable energy generation for its own use and potentially also for sale to the grid... 

Mpumalanga hands over 200 houses to Bushbuckridge residents

By: Yvonne Silaule     6th August 2021 Mpumalanga Premier Refilwe Mtshweni-Tshipane has handed 200 government-subsidised houses to the destitute families at Casteel village, in the Bushbuckridge local municipality, through the Enhanced People’s Housing Process (ePHP). The houses were received mostly by women, as well as child-headed... 

EPP welcomes pets at its shopping centres

By: Simone Liedtke     5th August 2021 JSE-listed retail landlord EPP is responding to the global rise in pet ownership and the needs of its pet-owning community by welcoming pets at the company’s shopping centres. Since the start of the Covid-19 pandemic, the world has seen a significant increase in the adoption of dogs and cats as... 

Pic of a Dog in one of EPP's shopping centres.

Industrial properties remain resilient

By: Nadine Ramdass     30th July 2021 The industrial real estate sector has shown resilience during a period that has proven to be most volatile for the office property and retail sectors, says JSE-listed real estate investment trust Redefine Properties national asset manager for industrial Johann Nell. The resilience is a result of... 

An image of Massmart
MASSMART Redefine’s new development houses Massmart

Covid exacerbates retail sector challenges

By: Nadine Ramdass     30th July 2021 Amid the negative impact of Covid-19 on the retail property sector, real estate investment trust company Liberty Two Degrees (L2D) FD José Snyders says rental relief enables retail businesses to navigate the effects of the pandemic while ensuring that retail spaces remain appealing to the public.... 

A photo of Liberty Two Degrees FD José Synders
JOSÉ SNYDERS Covid-19 has accelerated changes in the retail sector

Pandemic can spur innovation in property sector

By: Nadine Ramdass     30th July 2021 Although the pandemic has made it difficult for commercial and industrial property stakeholders to plan effectively for the future, this has led to great innovations, new approaches and renewed opportunities, says engineering services consulting firm WSP Africa regional director Johan Piekaar.... 

Retail opportunities abound in peri-urban areas

By: Nadine Ramdass     30th July 2021 Peri-urban areas have immense opportunities for investment in commercial properties, such as shopping complexes and warehouses for retailers, says 100% black-owned property development, management and investments company Akani Properties MD Zamani Letjane. “We saw opportunities in the property... 

An image of an aerial view of the Autumn Leaf Mall
AERIAL VIEW OF AUTUMN LEAF MALL Akani Properties complements peri-urban areas’ retail property sector

Central, Eastern Europe provides options for South African property diversification

By: Tasneem Bulbulia     29th July 2021 South Africa is in super cycle stagnation phase and moving into a volatile period and, therefore, diversification of portfolios is certainly justified, FNB Commercial Property Finance economist John Loos said, speaking during hybrid fund Fortress REIT’s webinar on June 29. Loos explained that the... 

Office building in Botswana receives 5-Star Green rating

By: Marleny Arnoldi     27th July 2021 Botswana-based PrimeTime Property Holdings’ Motswere building has been awarded a 5-Star Green Star Africa – Office Design v1.1 rating by the Green Building Council South Africa. The building marks the council’s first green star-rated building in Botswana.  

Botswana-based PrimeTime Property Holdings’ Motswere building
Botswana-based PrimeTime Property Holdings’ Motswere building

Redefine unpacks its R1bn sustainability bond  

By: Marleny Arnoldi     26th July 2021 JSE-listed Redefine Properties has launched a R1-billion sustainability-linked bond on the JSE, which marks the largest amount raised so far by a South African real estate investment trust in what is a growing sustainability bond space. The company explains in a release that the funds will be... 

Botswana-based PrimeTime's Motswere building
Botswana-based PrimeTime's Motswere building

L2D declares interim dividend, despite challenges  

By: Marleny Arnoldi     26th July 2021 JSE-listed real estate investment trust Liberty Two Degrees (L2D) has, notwithstanding a challenging operating environment, declared an interim dividend of 15.79c a share for the six months ended June 30. On releasing its results on July 26, L2D’s share price rose by 3.96% to 499c apiece.  

L2D's Nelson Mandela Square
L2D CEO Amelia Beattie talks about the company's interim performance.

$31m mixed-use office precinct to be built in Mauritius

By: Schalk Burger     23rd July 2021 Mauritius-based Gateway Real Estate Africa (GREA) is developing a $31-million mixed-use office development – The Precinct – in Grand Baie. The development is designed to accommodate corporate tenants’ fluctuating space needs in addition to catering for the gig economy with rentable desks, access... 

World-class Africa factory nearing completion

By: Halima Frost     23rd July 2021 The construction of drive components manufacturer SEW-EURODRIVE’s R200-million South Africa head office and factory in Aeroton, Johannesburg, is proceeding to plan and on schedule, says SEW-EURODRIVE MD Raymond Obermeyer. “Despite the slowdown in the local economy, we believe that it is critical... 

 	Large building, construction site with steel fabrication SEW Eurodrive HO
MAKING GROUND The construction of SEW EURODRIVE's new South African head office is progressing well

SARB cautions against stained banknotes after unrest

By: Sane Dhlamini     21st July 2021 Following recent looting and acts of lawlessness that caused unrest in the country, the South African Reserve Bank has cautioned the public not to accept stained banknotes, stating that these notes are considered as proceeds of crime. Last week, protests against former President Jacob Zuma’s... 

South African currency

Kumba breaks ground on lifestyle complex in Postmasburg  

By: Tasneem Bulbulia     20th July 2021 Anglo American group subsidiary Kumba Iron Ore’s Kolomela mine has broken ground on a multipurpose lifestyle complex in the small Northern Cape town of Postmasburg, which the company says will transform the lives of the Tsantsabane community. The 16 ha complex will provide a range of sporting,... 

An artist's drawing of the multipurpose lifestyle complex in the small Northern Cape town of Postmasburg
Artist drawing of the complex

Seven Growthpoint properties damaged during protests, looting

By: Simone Liedtke     20th July 2021 Seven of JSE-listed Growthpoint Properties’ retail properties in KwaZulu-Natal were damaged during last week’s unrest. The damaged property represents 2.3% of the group’s South African gross lettable area (GLA).. 

Heartwood Properties spearheads new hybrid office development

By: Tasneem Bulbulia     16th July 2021 Commercial office and industrial warehousing developer Heartwood Properties is launching a new hybrid office development, called Sunvlei. The new office block will be situated in the Paardevlei precinct of Somerset West, just outside Cape Town, close to the Strand Beach and the Paardevlei Nature... 

An image showing a rendering of the Sunvlei development
Sunvlei exterior

Attacq’s Courtyard Hotel receives 4-star green rating

By: Marleny Arnoldi     15th July 2021 JSE-listed real estate investment trust Attacq has received a Green Building Council South Africa 4-star green rating for its recently launched Courtyard Hotel, in Waterfall City. The certification makes Courtyard Hotel the first hotel, and the twenty-first building, within the Midrand-based... 

Attacq's Courtyard Hotel, in Waterfall City
Attacq's Courtyard Hotel, in Waterfall City

V&A Waterfront appoints new chairperson

By: Tasneem Bulbulia     9th July 2021 Public-private partnership the V&A Waterfront has appointed Dr Shirley Zinn as independent chairperson of its board of directors.  The V&A Waterfront is jointly owned by the Government Employees Pension Fund, which is represented by the Public Investment Corporation, and Growthpoint Properties. 

Castle Gate to get new gym and offices

By: Schalk Burger     8th July 2021 The 6 000 m2 mixed-use precinct Castle Gate Lifestyle Centre, in Pretoria, will get a Planet Fitness gym and 3 500 m2 of premium office space added to it at a cost of R150-million, property developer and investor Atterbury says. Construction of the gym and office building is under way and... 

Kyalami receives energy performance certificate

By: Schalk Burger     8th July 2021 The Kyalami Grand Prix Circuit and International Convention Centre has received its energy performance certificate with a rating of B, says South African National Energy Development Institute (SANEDI) energy efficiency and corporate communications GM Barry Bredenkamp. “The facility is... 

Akani Properties investing more than R600m into new shopping mall developments

By: Simone Liedtke     7th July 2021 Wholly black-owned property developer, manager and investor Akani Properties is investing more than R600-million in new shopping mall developments and refurbishments in anticipation of a post-Covid economic recovery within the next 12 to 18 months. Unfazed by the third wave of Covid-19... 

Equites to buy in on Attacq’s Waterfall Logistics Hub

By: Marleny Arnoldi     7th July 2021 Property developers Attacq and Equites have reached a conditional agreement whereby Attacq will dispose of an undivided 50% share of the leasehold rights and rental enterprises within the Waterfall Logistics Hub. The hub comprises two logistics properties – Amrod and Massbuild distribution... 

Attacq appoints Michael Clampett as asset management executive

By: Schalk Burger     5th July 2021 JSE-listed real estate investment trust Attacq has appointed Michael Clampett asset and property management executive. The appointment forms part of Attacq’s strong belief in grooming talent from within the business by providing employees with growth opportunities. 

CDC Group backs residential housing development in Johannesburg

By: Marleny Arnoldi     5th July 2021 UK-based development finance institution CDC Group has announced a R500-million commitment to affordable housing platform Divercity Urban Property Fund for housing development. This investment will fund the construction and management of more than 2 500 new affordable and environmentally... 

Despite Q1 dip, Afrimat Construction Index four-quarter average shows consolidation of recovery

By: Irma Venter     2nd July 2021 JSE-listed industrial minerals, commodities and construction material openpit mining company Afrimat has released the findings of the Afrimat Construction Index (ACI) for the first quarter of the year.  The ACI is a composite index of the level of activity in the building and construction... 

Hardware, building material markets more buoyant but difficult conditions linger in building sector

By: Irma Venter     2nd July 2021 After slipping to 27 in the first quarter of the year, the FNB/BER Building Confidence Index increased to 39 in the second quarter. Even though this is the highest level the index has reached since the first quarter of 2018, at the current level, more than 60% of respondents say they are still... 

Accelerate expects another difficult year amid ongoing Covid-19 impact

By: Simone Liedtke     30th June 2021 Although JSE-listed Accelerate Property Fund’s performance for the financial year ended March 31, reflected early signs of recovery from the impact of Covid-19, management contextualised the pandemic’s severe impact and the group’s strategy to focus on nodal strength as a beachhead for growth in... 

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