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Property News

L2D continues to grow trading density

By: Marleny Arnoldi     13th September 2019 Real estate investment trust Liberty Two Degrees (L2D) says the attraction of its brick and mortar stores, complemented by unique experiential offerings, continues to draw customers to its retail landscapes. The JSE-listed company on Friday reported that its overall annualised trading density... 

Growthpoint lifts full-year distributions by 4.6% y/y

By: Marleny Arnoldi     11th September 2019 JSE-listed real estate investment trust Growthpoint Properties delivered growth in distributions a share of 4.6% in the financial year ended June 30, compared with the 2018 financial year, despite South African property fundamentals remaining weak and worsening. Growthpoint declared a final... 

Growthpoint lifts full-year distributions by 4.6% y/y
Growthpoint Properties group CEO Norbert Sasse

Attacq delivers above-guidance performance on the back of Waterfall developments

By: Tasneem Bulbulia     10th September 2019 JSE-listed real estate investment trust (Reit) Attacq recorded a dividend a share of 81.5c for the financial year ended June 30, which is 10.1% higher year-on-year and exceeds its previously communicated market guidance. Attacq’s distributable earnings a share increased by 17.1% year-on-year to... 

Heartwood increases portfolio value to R157m in FY19

By: Marleny Arnoldi     6th September 2019 Commercial property developer Heartwood Properties increased its portfolio value by 30% and its net asset value by 29% within the first year of being listed on the 4 Africa Exchange (4AX). Heartwood was the first property company to list on 4AX, in March 2018, with a portfolio value of... 

Abland adds to Westend Office Park development

By: Tasneem Bulbulia     6th September 2019 Property developer Abland is continuing to break new ground in Centurion as it adds additional buildings to its Westend Office Park. The park will comprise six A-Grade office buildings, which will total 37 000 m² in lettable spaces. 

Abland adds to Westend Office Park development
Centurion Junction perspective

EPP’s interim distributable income up 9% y/y

By: Tasneem Bulbulia     6th September 2019 JSE-listed EPP’s distributable income earnings for the six months ended June 30, increased by 9% year-on-year to €52.6-million. The company also recorded distributions of €0.058 a share, in line with market guidance. 

EPP’s interim distributable income up 9% y/y
Hadley Dean

Rustenburg Mall to open in April 2021

By: Marleny Arnoldi     6th September 2019 The first phase of the Rustenburg Mall is set to be complete by April 2021, accommodating 120 retailers over 40 000 m2 of gross leasable area (GLA). Property managers and developers, the Moolman Group, Twin City and JB Holdings, are jointly developing the shopping centre and started bulk... 

Fairvest delivers above-market distribution growth in tough market

By: Tasneem Bulbulia     5th September 2019 Fairvest Property Holdings’ distributions increased by 8.1% to 21.77c a share for the financial year ended June 30.  “We are pleased to be able to deliver above-market distribution growth in what can only be described as an extremely tough economic climate,” Fairvest CEO Darren Wilder commented... 

Fairvest delivers above-market distribution growth in tough market
Darren Wilder

Hyprop’s revised strategy paying off

By: Tasneem Bulbulia     5th September 2019 JSE-listed Hyprop Investments’ revised strategy, implemented during the financial year ended June 30 under a new executive team, enabled the company to grow distributable income from its South African and Eastern European portfolio, lower its vacancies and establish a strong liquidity position.... 

Exxaro showcases new ultramodern headquarters 

5th September 2019 South Africa’s largest coal producer and black-empowered coal company Exxaro has unveiled its new ultramodern headquarters in Gauteng. Tasneem Bulbulia tells us more. 

Exxaro showcases new ultramodern headquarters
Exxaro showcases new ultramodern headquarters

Novare finishes construction at Twin Palms mall in Zambia

By: Marleny Arnoldi     4th September 2019 South Africa-based private equity group Novare Equity Partners on Wednesday announced that the second phase of the Novare Twin Palms mall, in Zambia, has opened for business. The mall now has 12 000 m2 of prime retail space.  

Sandton Central continues to expand high-grade office space

By: Schalk Burger     3rd September 2019 Prime-grade office space in Sandton Central has increased from 1 000 m2 in 2010 to 95 000 m2 this year, Sandton Central Management District (SCMD) city improvement district manager Elaine Jack said in a statement on Monday. SCMD also noted that, according to a South African Property Owners... 

Sandton Central continues to expand high-grade office space
Aerial view of Katherine Towers in Sandton Central

Australian project eats into WBHO profit; parastatals issue R20bn in tenders 

By: Irma Venter     3rd September 2019 Wilson Bailey Holmes-Ovcon (WBHO) has seen a significant decline in profit owing to anticipated losses on the Western Roads Upgrade (WRU) project, in Australia. The construction group on Tuesday reported its financial results for the year ended June 30. 

 Australian project eats into WBHO profit; parastatals issue R20bn in tenders
Louwtjie Nel

Marc Wainer retires as Redefine director

By: Tasneem Bulbulia     30th August 2019 Executive director Marc Wainer will retire from the board of directors of JSE-listed Redefine Properties, with effect from August 31. Wainer will remain available to the Redefine team in an advisory capacity while pursuing outside interests within the property sector. 

Policy implementation a key challenge

By: Darren Parker     30th August 2019 Legislative body Council for the Built Environment (CBE) will host its third Transformation Indaba, themed Breaking the Barriers, to address the lacklustre implementation of transformation policies within the built environment professions. The event will be held on October 9 and 10, at Diep in... 

Policy implementation a key challenge
PRISCILLA MDLALOSE Men and women are equally capable but different

All Sterling Industrial Park units to be completed before year-end

By: Simone Liedtke     29th August 2019 A further four units at JSE-listed Growthpoint Properties’ R240-million Sterling Industrial Park development, in its Centralpoint innovation district, have been completed and the final two units will be completed before the end of the year. The first two units at the 27 000 m2 development are... 

All Sterling Industrial Park units to be completed before year-end
An aerial view of the Sterling Industrial Park development, in its Centralpoint innovation district

Growthpoint’s De Klerk appointed new SA Reit chairperson

By: Simone Liedtke     27th August 2019 Growthpoint Properties CEO Estienne de Klerk has been elected chairperson of the South African Real Estate Investment Trust (SA Reit) Association. De Klerk is a former president of the South African Property Owners Association (Sapoa) and he represented the industry in the Property Sector Charter... 

Atlantic Leaf’s industrial exposure increases to 79%

By: Simone Liedtke     26th August 2019 JSE-listed property group Atlantic Leaf Properties has, through its subsidiary Basswood, concluded the acquisition of Gilbert House, an industrial property in Denby Hall Business Park, in the UK. The net purchase consideration is just over £8.6-million and will be funded from existing cash... 

Safari to appoint independent expert to advise on Comprop offer

By: Marleny Arnoldi     26th August 2019 JSE-listed real estate investment trust Safari Investments on Monday said some of its shareholders, holding more than 25% of the company’s share capital, confirmed that they would vote against the proposed R5.90 apiece takeover offer by Community Property Company (Comprop) in July. Safari... 

Merged Arrowhead, Gemgrow to start trading on September 16

By: Marleny Arnoldi     23rd August 2019 Shareholders of JSE-listed real estate investment trusts Gemgrow Properties and Arrowhead Properties on Thursday approved the reverse takeover of Gemgrow by Arrowhead. This will result in the creation of a R16-billion South Africa-focused property fund.  

Flame-detection system set for SA launch

By: Halima Frost     23rd August 2019 Industrial solutions provider HMA South Africa, part of the larger HMA Group, is set to launch the Det-Tronics optical flame detection and releasing system, designed for the demands of ultrahigh-speed applications, by the end of this month. The launch is subsequent to HMA Group being awarded the... 

Flame-detection system set for SA launch
BOOM BOOM The new optical flame section and releasing system mitigates explosive situations in the explosives manufacturing industry

CBD buildings undergo fire assessment and upgrade

By: Halima Frost     23rd August 2019 Fire risk management company ASP Fire has finalised the fire system due diligence checks on seven buildings for a reputed investor who intends to buy the properties to repurpose as offices. Six of the buildings are located in the Johannesburg central business district (CBD) and one in the... 

CBD buildings undergo fire assessment and upgrade
INDUSTRIAL INDUSTRIOUSNESS Careful due diligence assessments are made when looking at inner city fire hazards

Mashaba to launch four low-cost housing sites in Johannesburg

By: African News Agency      20th August 2019 Johannesburg will on Wednesday see four sod-turning ceremonies for low cost housing projects in and near the inner city, mayor Herman Mashaba's office said. Mashaba will attend the launch of the sites at 88 Marshall Street in downtown Johannesburg, at South and Joe Slovo Streets in Yeoville, and... 

Atterbury Europe, Iulius launch Romania’s first mixed-use development

By: Marleny Arnoldi     19th August 2019 Romania’s first mixed-use development, Iulius Town Timisoara, developed by real estate investment trusts Atterbury Europe and Romania-based Iulius, will open on August 30. Atterbury Europe CEO Henk Deist on Monday explained that the companies had entered into a 50/50 joint venture in June 2017... 

Atterbury Europe, Iulius launch Romania’s first mixed-use development
Iulius Town Timisoara, in Romania

Govt observes anniversary of Marikana tragedy

By: Simone Liedtke     16th August 2019 Government says it has, since the conclusion of the Marikana Commission of Inquiry, made “great progress” in implementing the inquiry’s recommendations, among which has been to ensure that the South African Police Service strengthens its public order policing capacity. A statement issued by the... 

New buildings to provide accommodation closer to institutions

By: Khutso Maphatsoe     16th August 2019 To address the issue of the lack of student accommodation in close proximity to campus, ADA Consulting Engineers has been involved in a greenfield construction project for a Southpoint building on Jorissen street in Braamfontein, Johannesburg. “Owing to Braamfontein being a densely built-up area,... 

Kenya approves issuance of first green bond

By: Reuters     15th August 2019 Kenya has approved its first ever issuance of a green bond, which will raise five-billion shillings ($48.45-million) for student accommodation, the capital markets regulator CMA said on Thursday. So-called green bonds are fixed income securities that raise capital for projects in renewable... 

Unpaid housing contractors will get their money in 15 days, vows MEC Lebogang Maile

By: News24Wire      15th August 2019 Gauteng MEC for Human Settlements, Urban Planning and Cooperative Governance and Traditional Affairs Lebogang Maile held a "groundbreaking and firm" meeting with Human Settlements contractors mandated by provincial government to build houses in the province. According to department spokesperson... 

South African engineering excellence recognised

By: Creamer Media Reporter      15th August 2019 South African engineering excellence was put on glittering display during the 2019 CESA Aon Engineering Excellence Awards hosted by Consulting Engineers South Africa (CESA) in Midrand on Wednesday evening. Awards were handed out in the following categories: Lifetime Industry Achievement Award;... 

South African engineering excellence recognised
The 2019 CESA Aon Engineering Excellence Awards

Emira maintains positive full-year growth trend

By: Simone Liedtke     14th August 2019 Real estate investment trust (Reit) Emira Property Fund on Wednesday reported a 3.1% increase in its distributions a share for the financial year ended June 30, adding that it had also delivered on its market guidance and continued to achieve dividend growth for the second consecutive year.... 

Safari shareholders lean towards Comprop offer, Fairvest merger cancelled

By: Marleny Arnoldi     14th August 2019 JSE-listed real estate investment trusts Fairvest and Safari Investments on Wednesday announced that their proposed merger has been terminated. Safari on July 2 announced its firm intention to make an offer to acquire all the issued shares of Fairvest, by way of a scheme of arrangement, to... 

Salt River site rezoned for 216 low cost housing units: Plato

By: African News Agency      14th August 2019 After much political mud-slinging, the Cape Town council on Tuesday approved the rezoning of land at the Salt River Market for mixed use development that will include 216 low-cost housing units, mayor Dan Plato said. "The approved rezoning application for the Salt River Market site will provide... 

Cape Town calls for proposals for high-use developments in four suburbs

By: African News Agency      6th August 2019 The Cape Town council on Tuesday issued a call for comment on a plan to invite the private sector to build mixed-used developments on four municipal owned sites in Athlone, Diep River, Goodwood and Mitchells Plain. The sites have a combined size of about 40 ha and a commercial value of... 

Rebosis, Delta mull merger

By: Tasneem Bulbulia     6th August 2019 Real estate investment trusts (Reits) Delta Property Fund and Rebosis Property Fund have, in-principle, agreed to enter into exclusive merger discussions to affect a potential transaction. Delta and Rebosis both have a focus on retail and commercial property in South Africa and, as such, the... 

Shipping containers offer an alternative to traditional construction

By: Simone Liedtke     6th August 2019 Owing to increasing economic pressures and continued limited access to property, Rawson Property Group says the trend of creating homes from shipping containers could potentially solve the problem. “Shipping containers certainly offer an interesting alternative to traditional construction... 

Hyprop continues to reduce its sub-Saharan Africa exposure

By: Simone Liedtke     5th August 2019 JSE-listed Hyprop Investments and AttAfrica have concluded an agreement to dispose of their interests in the Manda Hill shopping centre, in Zambia, to Growthpoint Investec African Properties. The shopping centre was owned by Hyprop Investment’s 37.5% held Mauritius subsidiary. 

Growthpoint, Investec JV buys Zambia shopping centre

By: Marleny Arnoldi     5th August 2019 Real estate investment trust (Reit) Growthpoint Investec African Properties (GIAP) has successfully concluded the 100% acquisition of Manda Hill shopping centre, in Lusaka, Zambia. GIAP, a joint venture (JV) between Growthpoint Properties and Investec Asset Management, also recently acquired... 

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