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Property News

Uncertainty over land expropriation to deter investment – IHS Markit

By: Marleny Arnoldi 24th August 2018 The threat of land expropriation without compensation (EWC) is likely to deter investment up until the 2019 elections and a while afterwards, says global information provider IHS Markit. “Uncertainty over property rights is likely to deter fixed investment, limit government revenue and lower... →

Fortress builds on strong logistics portfolio, targets increased share distribution

By: Marleny Arnoldi 22nd August 2018 Real estate investment trust Fortress has reported an increase of 4.53% to 141.8c apiece for its A-share distribution for the year ended June 30, while its B-share distribution increased by 4.07% to 179c apiece. Fortress is active in high-growth nodes that have prime logistic warehousing,... →

Emira delivers positive FY18 performance with 2.53% distribution increase

By: Simone Liedtke 15th August 2018 Real estate investment trust (Reit) Emira Property Fund’s distributions for the financial year ended June 30, increased by 2.53% year-on-year, despite persistently tough trading conditions. This increase, CFO Greg Booyens said on Wednesday, reaffirms the company’s turnaround and return to... →

Freedom Property subsidiary sells noncore residential units

By: Anine Kilian 15th August 2018 Zambesa Investments, a wholly owned subsidiary of JSE-listed Freedom Property Fund, has agreed to sell eight residential units and 33 service stands, collectively called Tubatse Homes, in Burgersfort. The purchase consideration is R12.6-million and comprises a deposit of R2.52-million, which is... →

South African black property owners want certainty over land reform policy

By: African News Agency 15th August 2018 South Africa's black practitioners in the property development sector do not have any qualms about an amendment of the Constitution to expropriate land without compensation, but they want certainty over the policy and decisive action if it is to be implemented. Nkuli Bogopa, president of the... →

City of Joburg makes 71 inner city properties available for private sector development

By: Marleny Arnoldi 14th August 2018 Johannesburg executive mayor Herman Mashaba has declared Johannesburg’s inner city open for business by putting 71 properties out to tender for private sector development into mixed-income housing, student accommodation and small business rental space. This forms part of City of Joburg’s inner... →

Futuregrowth, Citiq Treasury, Citiq Property Services merger gets green light

By: Marleny Arnoldi 13th August 2018 The Competition Tribunal has approved a merger between Futuregrowth Asset Management, Citiq Treasury and Citiq Property Services. Futuregrowth is the acting agent for Old Mutual Assurance company, wholly-owned by Old Mutual Investment Group Holdings. →

Property developer celebrates completion of R250m Sandton apartment skyscraper

By: Nadine James 10th August 2018 Property development company Masingita Group subsidiary Masingita Properties hosted a roof-wetting last month to celebrate the completion of its R250-million luxury apartment skyscraper, Masingita Towers, which is situated in West Road South near the Sandton central business district. The project... →

Photo by Nadine James
MASINGITA TOWERS The development was completed on time and on budget last month

South Africa falls to 37th on International Property Rights Index

By: Marleny Arnoldi 8th August 2018 South Africa is now ranked thirty-seventh in the global property rights rankings of the International Property Rights Index, with its score having declined from seven in 2017, when the country ranked twenty-seventh, to 6.35 this year. This is the largest decline by any country measured, mostly... →

Development continues at Waterfall City

8th August 2018 From Creamer Media in Johannesburg, this is the Real Economy Report. Sashnee Moodley: Construction and development of JSE-listed Attacq’s Waterfall City is ongoing, with new infrastructure including roads, residential properties and warehouses continuously in the pipeline. Anine Kilian tells us... →

Development continues at Waterfall City

Study says gender a challenge for female entrepreneurs in construction

By: Irma Venter 7th August 2018 Women in the construction and related industries not only face discrimination while working for existing firms, but also when starting their own businesses, says Mercantile Bank. A recent study conducted on behalf of the institution found that 67% of female business owners surveyed in the... →

Equites acquires Simba logistics facility in Gauteng

By: Simone Liedtke 6th August 2018 Real estate investment trust Equites Property Fund has concluded an agreement to acquire a 40 428 m² distribution centre, let to Simba, from Investec Property Fund for about R461.9-million. The transaction is estimated to be effective from November 1, 2018. →

Stenprop buys another industrial estate

By: Creamer Media Reporter 6th August 2018 JSE-listed and UK-based multi-let industrial property investor Stenprop has acquired the Lombard Centre industrial estate, in Aberdeen, from Mayfair Capital for £3.25-million. The Lombard Centre is a modern estate with ten units, one of which is vacant. →

Group Five granted immunity from competition authorities for 15 construction projects

By: Simone Liedtke 6th August 2018 The Competition Tribunal has approved a settlement agreement in terms of which construction company Group Five will receive immunity for cooperating with the Competition Commission’s investigation into the construction industry and disclosing its participation in 15 construction projects as a... →

Parkwood housing project in Cape Town gets under way

By: News24Wire 6th August 2018 A team of engineers, planners and designers is to visit seven sites next week where social and affordable housing will be built for backyarders in Parkwood and surrounding areas, GroundUp reports. This was announced by Western Cape MEC for Human Settlements Bonginkosi Madikizela at a joint... →

Octodec uplifts Tshwane CBD

By: Marleny Arnoldi 3rd August 2018 JSE listed real estate investment trust (Reit) Octodec has uplifted the Tshwane central business district (CBD) with various residential, commercial, office and retail developments, with the aim of providing safe, clean and productive environments for the citizens of the city. The latest... →

Photo by Dylan Slater
Sharon's Place in Pretoria CBD

Value for money in sectional title properties

3rd August 2018 Despite challenging economic conditions, there are still opportunities for buyers and investors to purchase property in a desirable address at affordable prices, says leading estate agency Pam Golding. The company says savvy buyers with access to finance are buying up sectional title properties... →

ON THE MARKET This renovated two bedroom, two bathroom ground unit apartment in Morningside is on the market for R1.575 million through Pam Golding Properties

Internet connectivity increases property value

By: Melissa Zisengwe 3rd August 2018 Bundling WiFi connectivity is a commercial and industrial property value-proposition, which attracts potential buyers and boosts property value, says wireless networking company Ruckus Networks. “South African property developers are proving to be enthusiastic WiFi adopters because the... →

RIAAN GRAHAM says all property owners and tenants now expect functional and reliable Internet connection

Unique design solution for 92 Rivonia Road project

By: Melissa Zisengwe 3rd August 2018 Formwork and scaffolding manufacturer PERI South Africa was able to supply a unique design solution for the challenging 92 Rivonia Road mixed-use development. This allowed main contractor WBHO to come to grips with the striking ‘feature brows’ at the project, lead engineer: key and strategic... →

A UNIQUE CHALLENGE The project was a major challenge from a structural and architectural point of view

Aveng to sell Jet Park, Vanderbijlpark properties

By: Creamer Media Reporter 2nd August 2018 Construction firm Aveng has reached agreements to sell its Jet Park and Vanderbijlpark properties for R211.2-million and R42.6-million, respectively. Aveng in February announced its decision to sell certain noncore assets and properties following a strategic review of the business. →

Vukile buys majority stake in Spanish property company

By: African News Agency 2nd August 2018 JSE-listed Vukile Property Fund announced on Thursday that it has acquired a controlling 51% stake in Morzal Properties Iberia in a bid to expand its property portfolio in Spain. Last month, Vukile said it would be concluding an agreement to subscribe for shares in Morzal for an aggregate... →

Tower Property’s vacancies decrease amid improving consumer, business sentiment

By: Simone Liedtke 31st July 2018 An improvement in South African consumer and business sentiment in early 2018 contributed to real estate investment trust (Reit) Tower Property Fund’s vacancies reducing to 5% at the end of its financial year to May 31, after having reached a high of 12% in January. However, in order to secure... →

Specialist team to get the ball rolling for housing opportunities in Cape Town

By: News24Wire 30th July 2018 A resolution passed by City of Cape Town council earlier this week is expected to get the ball rolling in expediting housing opportunities across the city. According to a statement by the City of Cape Town, the city's Transport and Urban Development Authority (TDA) will now conclude the four... →

Pretoria hotel adds 86 rooms, restaurant, conference facilities

By: Marleny Arnoldi 27th July 2018 Protea Hotels by Marriott Pretoria Hatfield this week opened an additional wing with 86 rooms and enhanced facilities, following the completion of a major construction project that started in mid-2017. This is in line with Pretoria’s growth in demand for quality accommodation that Protea Hotels... →

Protea Hotels by Marriott Pretoria Hatfield

New property fund aims to renew South Africa’s cities

By: Marleny Arnoldi 25th July 2018 Divercity Urban Property Fund is seeking to renew and re-energise South Africa’s urban centres, and is backed by the experience of leading property specialists and a R2-billion seed portfolio of landmark property assets. Divercity’s biggest shareholders are Atterbury Group and Ithemba Property,... →

Vukile’s Castellana lists on Spanish Stock Exchange

By: Marleny Arnoldi 25th July 2018 JSE-listed real estate investment trust Vukile Property Fund’s 98%-owned Spanish subsidiary Castellana Properties on Wednesday listed on the Spanish Stock Exhange’s Mercado Alternativo Bursátil. The shares were listed at an introductory price of €6 apiece, which attributes a market... →

Liberty Two Degrees declares 29c dividend for H1, finalising corporate move

By: Marleny Arnoldi 23rd July 2018 Retail-focused real estate investment trust (Reit) Liberty Two Degrees (L2D) has declared a distribution of 29.3c apiece for the six months ended June 30, in line with expectations and despite a challenging environment. As a result of the acquisition of additional undivided shares of... →

Emira to start leasing The Bolton apartments in Rosebank from August

By: Marleny Arnoldi 20th July 2018 JSE-listed real estate investment trust Emira Property Fund’s R200-million The Bolton apartment block, in Rosebank, will start welcoming its first residents in August. Emira converted an office property block formerly occupied by petrochemicals giant Sasol into a contemporary residential... →

Emira Property Fund's apartment interior at The Bolton in Rosebank

SA’s ambitious Youth Employment Service starts taking shape

By: Marleny Arnoldi 20th July 2018 The Youth Employment Service (YES) aims to create one-million jobs within three years to help alleviate the situation of six-million unemployed youths in South Africa, 60% of whom reside in townships and rural areas. YES was established by the CEO Initiative, which is a partnership created... →

YES CEO Tasmia Ismail-Saville discusses the first hub opening and company involvement towards the initiative. Camerawork and Editing: Nicholas Boyd.

Stenprop sells Swiss properties

By: Creamer Media Reporter 19th July 2018 JSE- and LSE-listed Stenprop has completed the sale of two of its properties, Altendorf and Arlesheim, in Switzerland, as part of its strategy of positioning itself as a specialised UK multi-let industrial real estate investment trust. The two properties were sold to Helvetica Swiss Commercial. →

WBHO grows its UK presence

By: Creamer Media Reporter 19th July 2018 Wilson Bayly Holmes-Ovcon (WBHO) subsidiary WBHO UK has acquired a 60% stake in UK construction business Russells for £32.8-million, as well as a 31.7% stake in Russell Homes for £3.25-million. Russells provides design, installation and project management capabilities in the UK construction... →

First African company announces science-based greenhouse gas target

By: African News Agency 19th July 2018 Emira Property Fund has become the first African and South African company to have a greenhouse gas emissions target approved by the Science Based Targets initiative (SBTi). The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute and the World... →

Vukile raises R1.63bn, acquires new properties in Spain

By: Anine Kilian 18th July 2018 JSE-listed Vukile Property Fund, which is expanding its presence in Spain, has raised about R1.63-billion through the issue of new shares. Of the total, R1.38-billion was raised through an accelerated bookbuild process that was open to selected investors. →

Calgro M3 expands Memorial Parks business

By: Anine Kilian 18th July 2018 JSE-listed property and property related investment holding company Calgro M3 has expanded its Memorial Parks business to two more provinces – the Western Cape and the Free State. This increases the number of memorial parks owned and managed by the group to five, with further plans to acquire... →

Growthpoint shares start trading on A2X

By: Creamer Media Reporter 18th July 2018 Real estate investment trust Growthpoint Properties’ shares began trading on the A2X on Wednesday. Growthpoint retains its primary listing on the JSE. →

Grit to seek LSE listing, raise $120m for acquisitions

By: Creamer Media Reporter 17th July 2018 Pan-African real estate company Grit Real Estate Income Group plans to list on the LSE. The company, which is focused on real estate investment assets in selected African countries, is already listed on the JSE, as well as the Stock Exchange of Mauritius. →

Stenprop acquires industrial estate for £3.1m

By: Creamer Media Reporter 13th July 2018 JSE- and LSE-listed industrial property investor Stenprop has acquired an industrial estate in Newport, South Wales, from Storage Giant for £3.1-million. Estuary Court is a modern estate, located in the established industrial location of Queensway Meadows. It comprises 20 units offering 34 980... →

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