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Property News

WBHO sees plunge in profit as pandemic, lossmaking projects take toll

By: Irma Venter     27th November 2020 Wilson Bayly Holmes-Ovcon (WBHO) last week reported a massive turnaround in fortunes from 12 months ago when it boasted R513-million in operating profit for the year ended June 30, to a position where it suffered an operating loss of R585-million. The group cited as the main reasons for the... 

Panel on EIPs to feature at Indaba

By: Darren Parker     27th November 2020 The National Cleaner Production Centre South Africa (NCPC-SA) will host a panel at this year’s Manufacturing Indaba on industrial parks, the potential to transform them into eco-industrial parks (EIPs) and leveraging them for accelerated development. This year, the NCPC-SA, United Nations... 

HENRY NUWARINDA
The Global Eco-Industrial Park Programme will ensure an added level of quality control and cost-efficiency
HENRY NUWARINDA The Global Eco-Industrial Park Programme will ensure an added level of quality control and cost-efficiency

Stefanutti Stocks stays in the red as it reports R101m loss 

By: Irma Venter     26th November 2020 The impact of Covid-19, as well as an adverse market, saw Stefanutti Stocks report an operating loss of R101-million for the six months ended August 31, compared with a R865-million loss in the same period last year. Contract revenue from continuing operations declined from R2.9-billion to... 

Stefanutti Stocks stays in the red as it reports R101m loss

New Castle Gate lifestyle centre opening its doors in Pretoria

By: Simone Liedtke     25th November 2020 The first phase of the new multibillion-rand Castle Gate mixed-use precinct development in Pretoria will open its doors to the public on November 26. Home to some of the latest store concepts for the likes of Woolworths, Checkers, Dis-Chem and Builders Warehouse, Castle Gate was built with the... 

The new Castle Gate lifestyle centre
Photo by Simone Liedtke
The new Castle Gate lifestyle centre

Arrowhead records solid full-year performance

By: Tasneem Bulbulia     25th November 2020 Diversified South African real estate investment trust Arrowhead Properties says it performed ahead of expectations in a tough economic environment during the financial year ended September 30. At period end, Arrowhead directly owned 143 commercial properties in South Africa (split 50% retail,... 

Kwikspace appoints Steinberg CEO, FD

By: Tasneem Bulbulia     25th November 2020 Modular buildings manufacturer Kwikspace has announced the permanent appointment of its new CEO and FD, Dirk Steinberg. Having joined the company in 2014 as FD and executive officer, Steinberg has a wealth of business experience, the company says. 

Growthpoint invests further in Woodmead

By: Tasneem Bulbulia     24th November 2020 JSE-listed real estate group Growthpoint Properties says it is attracting new business to Woodmead, Sandton, with its significant R290-million investment programme that improves public infrastructure and the company’s strategic assets in the area. Growthpoint owns and operates about 250 000 m2 of... 

Nedbank provides financing options for solar power

By: Tasneem Bulbulia     24th November 2020 Banking institution Nedbank is exploring financing options for solar photovoltaic (PV) installation for homeowners and has implemented several options for businesses wanting to install solar PV plants. Nedbank Home Loans strategy head Bruno Cing’andu noted during a November 24 webinar, hosted by... 

Emira continues investment in renewable energy

By: Donna Slater     20th November 2020 JSE-listed real estate investment trust (Reit) Emira Property Fund has been increasing its use of renewable energy since the 2015 installation of a 271 kW solar plant on the roof of its Epsom Downs Shopping Centre, in Bryanston. Since then the company has been continuing the rollout of solutions... 

Emira's Boskruin photovoltaic installation
Emira's Boskruin photovoltaic installation

Indluplace weathers Covid-19 storm with strong balance sheet

By: Donna Slater     18th November 2020 Despite the human and economic impact of the Covid-19 pandemic, high demand for its properties drove affordable residential letting company Indluplace Properties’ to maintain a strong balance sheet and steady cash generation for the financial year ended September 30. A dividend of 44.02c apiece... 

Property market faces multitude of issues

By: Donna Slater     18th November 2020 South Africa’s poor economic state, which is described as “bleak”, is set to persist, and will continue to have a negative and disrupting impact on the property and housing market, property consultants, valuers and town planners Rode & Associates CEO Erwin Rode has said. Speaking during a... 

WBHO sees plunge in profit as Covid-19, loss-making projects take toll 

By: Irma Venter     17th November 2020 Wilson Bayly Holmes-Ovcon (WBHO) on Tuesday reported a massive turnaround in fortunes from 12 months ago when it boasted R513-million in operating profit for the year ended June 30, to a position where it suffered an operating loss of R585-million. Group CEO Wolfgang Neff cited the main reasons... 

WBHO sees plunge in profit as Covid-19, loss-making projects take toll

Octodec records reduced income, defers dividend decision to 2021

By: Donna Slater     16th November 2020 Against a weakening economic environment, the sovereign downgrade in March and the Covid-19 pandemic, JSE-listed real estate investment trust Octodec Investments recorded a 22% reduction in distributable income for the financial year ended August 31 and has deferred its decision to declare a... 

Structural integrity aids building life cycle

13th November 2020 Asset management company Collaborit has successfully started penetrating the mining and industrial sectors, providing expert solutions and services into the sustainable, proactive management of structural assets such as steel, concrete and masonry.  

THE END IS ALWAYS CERTAIN 
Every structure has a limited design life and adequate budgeting must be allowed for to ensure regular maintenance is done to ensure this design life is reached
THE END IS ALWAYS CERTAIN Every structure has a limited design life and adequate budgeting must be allowed for to ensure regular maintenance is done to ensure this design life is reached

Pandemic challenges exacerbated for industry

13th November 2020 While construction sites were able to reopen in early May for civil projects, ongoing delays in terms of both the public sector being slow to change gears and client’s additional regulations around health and safety, have exacerbated challenges for both property development and construction... 

COVID-19 CONUNDRUM 
The Power Group’s construction arm has been hit with challenges no one could have foreseen with Covid-19
COVID-19 CONUNDRUM The Power Group’s construction arm has been hit with challenges no one could have foreseen with Covid-19

Economy to affect home builders more

By: Mamaili Mamaila     13th November 2020 The effects of Covid-19 and the sluggish economy remain the biggest challenge for the civil engineering and construction sectors. 

SONGEZO BOOI 
After almost 12 years, the home-building industry is still struggling to reach its former peak
SONGEZO BOOI After almost 12 years, the home-building industry is still struggling to reach its former peak

Infrastructure recovery roadmap mulled

By: Mamaili Mamaila     13th November 2020 If South Africa is to have any hope of economic recovery, no sector can afford to do things the way it did before 2020, says the International Zinc Association (IZA). 

REFINED STRUCTURES 
The construction of a new zinc refinery will reduce dependence on special high-grade zinc imports, and provide a much-needed boost for the construction industry
REFINED STRUCTURES The construction of a new zinc refinery will reduce dependence on special high-grade zinc imports, and provide a much-needed boost for the construction industry

Hard-hit construction sector pins recovery hopes on infrastructure plan

By: Natasha Odendaal     13th November 2020 South Africa’s construction industry ground to a halt on March 27, as the nation entered a hard lockdown that would last weeks, in response to the global Covid-19 pandemic which spurred governments worldwide to impose emergency restrictions. Six months later, the industry is starting to get back... 

Hard-hit construction sector pins recovery hopes on infrastructure plan

Equites concludes R1.8bn UK distribution centre deal

By: Donna Slater     11th November 2020 South African real estate investment trust Equites Property Fund has, through its wholly-owned subsidiary Equites International, concluded an agreement with Hermes Parcelnet to develop a R1.8-billion (£85-million) distribution centre in a prime location in the UK. The property is expected to be... 

Courtyard Hotel Waterfall City nearing completion

By: Simone Liedtke     9th November 2020 Construction of the new concept Courtyard Hotel at Waterfall City, in Midrand, is nearing completion, with the hotel set to open in the first quarter of 2021. The ten-storey hotel will feature a rooftop function area and a 100-seater conference facility. In addition to 164 rooms (16 of which are... 

Courtyard Hotel Waterfall City nearing completion

Another limited trading month for EPP

By: Marleny Arnoldi     9th November 2020 Poland-focused retail real estate investment trust EPP has advised that all Polish shopping centres and retail locations measuring more than 2 000 m2 in size will be temporarily limited in terms of trading between November 7 and November 29. The Polish government had decided to close parts of... 

Redefine completes M1 acquisition in Europe

By: Marleny Arnoldi     6th November 2020 JSE-listed real estate investment trust Redefine Properties’ European subsidiary has completed the acquisition of the M1 Marki Commercial Centre, near Warsaw, in Poland. As part of the transaction, Redefine will sell its 25% equity interest in Chariot Top Group – which is the sole shareholder of... 

Ekurhuleni ready to exchange ideas during World Town Planning Day

By: Sane Dhlamini     5th November 2020 The City of Ekurhuleni will join the world in commemorating World Town Planning Day on November 8, bringing together role-players in the planning fraternity to exchange ideas that improve city planning. This year’s World Planning Day, also known as World Urbanism Day, will be commemorated under... 

Ekurhuleni ready to exchange ideas during World Town Planning Day

Redefine launches programmes to support community development in Soweto

By: Tasneem Bulbulia     5th November 2020 JSE-listed real estate investment trust Redefine Properties has launched two programmes, one for nonprofit organisations (NPOs) and another one targeting small, medium-sized and microenterprises (SMME), in Soweto.   

Covid-19 presents negative and positive impacts on industrial property market

By: Donna Slater     3rd November 2020 Although the Covid-19 pandemic has resulted in some negative impact on the industrial property market worldwide, there have also been some positive impacts and future potential upside brought on by the pandemic, says real estate investment trust Equites Property CEO Andrea Taverna-Turisan. In... 

Extending housing finance crucial for sub-Saharan Africa, says professor

By: Tasneem Bulbulia     3rd November 2020 There is  growing pressure on the affordable housing sector in sub-Saharan Africa and, therefore, extending housing finance is critical to solving this problem, University of Pennsylvania Wharton School International Housing Finance Program Founder and director Professor Marja Hoek-Smit has said.... 

Company set for expansion despite difficulties

By: Mamaili Mamaila     30th October 2020 Despite Africa’s holding much promise in terms of business development, the business dynamics in African countries have been severely affected by the effects of Covid-19. 

DANIEL PETROV 
Africa is the future and remains so, even in a depressed economic environment
DANIEL PETROV Africa is the future and remains so, even in a depressed economic environment

Growthpoint receives green building certification for Exxaro head office

By: Tasneem Bulbulia     29th October 2020 Coal miner Exxaro’s new head office building, in Centurion, Gauteng, developed and owned by property developer Growthpoint, has achieved a 6-Star green rating from the Green Building Council South Africa (GBCSA) under the Green Star New Build certification system. Green building certification... 

Exxaro exterior
Exxaro exterior

Technical panel being assembled to support delivery of 62 infrastructure projects 

By: Terence Creamer     29th October 2020 Public Works and Infrastructure Minister Patricia de Lille reported on Thursday that nearly 1 200 applications were received from professionals willing to serve on the Technical Advisory Panel for South Africa’s Infrastructure Investment Plan. Applications for the panel were advertised in August... 

Public Works and Infrastructure Minister Patricia de Lille
Public Works and Infrastructure Minister Patricia de Lille

Redefine diversifies into Polish logistics market

By: Simone Liedtke     23rd October 2020 Despite sentiment towards global real estate having fallen sharply, the outlook for the Polish logistics sector has improved significantly as a result of Covid-19, says Redefine Europe CEO Pieter Prinsloo. Speaking during real estate investment trust (Reit) Redefine Properties’ Polish market... 

Roll-out of three Gauteng SEZs being prioritised

By: Irma Venter     23rd October 2020 The Gauteng Growth and Development Agency (GDDA) has prioritised three special economic zone (SEZ) developments for roll-out in Gauteng, says GDDA CEO Mosa Tshabalala. The first is a high-tech SEZ in the northern corridor of Gauteng, in Bronkhorstspruit, 50 km from Pretoria. 

Calgro M3 enhances liquidity

By: Tasneem Bulbulia     19th October 2020 Following 12 to 18 months of rigorous restructuring initiatives, JSE-listed Calgro M3 has successfully closed its internal construction division. Calgro M3 CEO Wikus Lategan reported on October 190 that the leaner business, together with little pressure to invest in capital intensive projects... 

Contractors risk ruin owing to contract fine print, payment delays, says MBA 

By: Irma Venter     19th October 2020 The Master Builders Association (MBA) North says contractors, particularly small and mid-sized contractors, face growing business risk when embarking on new projects. This is a result of a range of issues, such as contracts that are amended to favour large contractors or clients, unclear delivery... 

Contractors risk ruin owing to contract fine print, payment delays, says MBA

Property fund Equites says collection rate remains high 

By: Tasneem Bulbulia     13th October 2020 Logistics real estate investment trust Equites Property Fund has recorded solid results, remained disciplined in capital allocation and protected its balance sheet during the six months ended August 31, despite the challenging macroeconomic challenges in the UK and South Africa. Equites on... 

Equits CFO Laila Razack
CEO Andrea Taverna-Turisan, COO Riaan Gous, and CFO Laila Razack outline the company’s strategy execution and performance for the six months ended August 31.

Arrowhead nears total disposal target

By: Marleny Arnoldi     9th October 2020 JSE-listed Arrowhead Properties’ sales pipeline has grown by a further R170-million to R1.43-billion, after the real estate investment trust reported a sales pipeline amount of R1.26-billion in September. Additionally, Arrowhead advised that it had since transferred 11 sales, valued at... 

GVK-Siya Zama launches dedicated civils unit

By: Irma Venter     9th October 2020 Construction company GVK-Siya Zama has added a dedicated civils unit to its operational offering.  Through this unit, the company aims to create jobs and improve society by filling the void left by many companies in the construction industry that had to close their doors. 

WCPDF calls for self-certification to rescue property development sector

By: Tasneem Bulbulia     8th October 2020 Countries globally are increasingly turning to self-certification to combat public sector bottlenecks that result in serious application backlogs and that impede the building process. South Africa urgently needs to do the same for an industry that was in rescue mode even before Covid-19, the... 

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