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Property News

Grit pursues LSE listing

By: Anine Kilian     9th April 2018 Grit Real Estate, which is listed on the JSE and on the Stock Exchange of Mauritius (SEM), is seeking a listing on the LSE. The company, which focuses on real estate in select African countries, intends to maintain primary listings on the JSE and LSE, while moving its SEM listing to a secondary... 

Solar powers Redefine Properties’ sustainability efforts

By: Simone Liedtke     5th April 2018 JSE-listed Redefine Properties’ total installed photovoltaic (PV) fleet will produce about 35.75-million kilowatt-hours a year of solar power when fully operational.   This forms part of the diversified real estate investment trust company’s strategy on solar energy to deliver cost efficiencies... 

Solar powers Redefine Properties’ sustainability efforts
Some of the key assets where Redefine has already installed rooftop solar PV plants include Boulders Shopping Centre, in Midrand

Oando commissions new office building in Lagos

By: Anine Kilian     5th April 2018 Dual-listed Oando has officially commissioned its new office building, the Wings Office Complex, in Lagos, Nigeria. The complex, which was commissioned by State and Petroleum Minister Ibe Kachickwu,  comprises two 12-storey towers with 27 000 m2 of lettable office space, a three-level car park,... 

Basil Read outlines turnaround plan as auditor issues going-concern warning

By: Irma Venter     28th March 2018 Basil Read remains a viable business, despite the group’s auditors noting their apprehension regarding the company’s ability to continue as a going concern, says CEO Khathutshelo Mapasa, who took over the reins at the company in October. PricewaterhouseCoopers noted in Basil Read’s annual results... 

 Basil Read outlines turnaround plan as auditor issues going-concern warning

Stenprop buys another UK multilet industrial estate

By: Simone Liedtke     26th March 2018 In line with its stated strategy of focusing on UK multilet industrial property, BSX- and JSE-listed Stenprop has completed the acquisition of a modern, fully let industrial estate in Huddersfield, in the UK, for £5.8-million. The purchase, from a private investor, reflects a net initial yield of... 

Atlantic Leaf acquires UK industrial, office property for £14.9m

By: Simone Liedtke     26th March 2018 SEM- and JSE-listed Atlantic Leaf, through its wholly-owned subsidiary Trido, has completed the acquisition of a multilet industrial and office property – Deacon Park – in Knowsley, in the UK, from JCAM Commercial Real Estate Property. 

Dipula’s R1.25bn acquisition progresses

By: Marleny Arnoldi     23rd March 2018 JSE-listed diversified real estate investment trust Dipula Income Fund on Friday provided further details of its R1.25-billion property portfolio acquisition that was initially announced in November.  

Johannesburg Mayor finds procedures not followed in building of storm damaged houses

By: African News Agency      22nd March 2018 An investigation by City of Johannesburg's Group Risk and Assurance Services (Gras) found discrepancies and irregularities by officials and builders of bonded and RDP homes damaged by a storm in December last year. Mayor Herman Mashaba said as a result, three officials in the city's development... 

Heartwood Properties lists on 4AX

By: Marleny Arnoldi     20th March 2018 Exchange trading platform 4 Africa Exchange (4AX) on Tuesday listed its first issuer operating in the property sector – Heartwood Properties.  

Heartwood Properties lists on 4AX
4AX CEO advocate Fay Mukaddam

Growthpoint sees Gauteng East Rand as hotspot for industrial properties

By: Simone Liedtke     20th March 2018 Growthpoint sees Gauteng East Rand as hotspot for industrial properties Gauteng’s East Rand was a hotspot for industrial property leasing in 2017, says Growthpoint Properties, which concluded 70 deals – 40 new and 30 renewals – in the area during the year. 

Growthpoint sees Gauteng East Rand as hotspot for industrial properties
Growthpoint Industrial Division Director Engelbert Binedell

Afrimat Construction Index ticks up, but talks on land may dampen mood

By: Irma Venter     15th March 2018 The 2017 fourth quarter results of the Afrimat Construction Index (ACI) show an upward trend, broadly in line with the uptick in South Africa’s gross domestic product. After reaching an eight-quarter high of 127 at the end of 2016, the ACI declined for two successive quarters before recovering in... 

Afrimat Construction Index ticks up, but talks on land may dampen mood

Phase 1 of Loftus Park mixed-use development nears completion

By: Schalk Burger     14th March 2018 Phase one of the mixed-use Loftus Park precinct being developed by JSE-listed Redefine Properties and built by construction firm Abland will include 34 000 m2 of office space, a gym, an open-air piazza with restaurants and a convenience retail offering, as well as a new 152-room hotel by... 

Phase 1 of Loftus Park mixed-use development nears completion

Growthpoint lists first local green bonds

By: Megan van Wyngaardt     12th March 2018 JSE-listed real estate investment trust Growthpoint Properties has issued a Green Bond on the JSE, the first local company to do so. The Growthpoint Green Bonds will be available in terms of five, seven and ten years and are aimed at raising capital solely allocated for funding projects that... 

WBHO believes SA’s construction cycle has bottomed

By: Irma Venter     9th March 2018 Despite the changing political landscape in South Africa, the construction industry, which has been in the doldrums over the last 24 months, will not immediately experience a change in fortunes, warns Wilson Bayly Holmes-Ovcon (WBHO) CEO Louwtjie Nel. “Government has lots of obligations. We won’t... 

EPP achieves distributable earnings of €76.6m in FY17

By: Marleny Arnoldi     8th March 2018 JSE- and Luxembourg Stock Exchange-listed retail-focused Netherlands-based property company Echo Polska Properties (EPP) posted distributable earnings of €76.6-million for the year ended December 31, translating into distributions of €0.11 a share.  

Basil Read to take on building of top structures

By: Megan van Wyngaardt     7th March 2018 Local construction company Basil Read has received permits from the National Home Builders Registration Council (NHBRC) to start building top structures at its housing developments, such as its Savanna City Estate mixed-use development, near Orange Farm, in Gauteng. The top structure would be... 

Gauteng Premier concerned over proposed rates hikes in Joburg

By: African News Agency      7th March 2018 Gauteng Premier David Makhura on Wednesday, expressed concern over the proposed property rates increase in the City of Johannesburg following the release of its municipal valuations recently. Johannesburg Mayor Herman Mashaba said that 8 000 property owners will from next week receive Section 78... 

 Gauteng Premier concerned over proposed rates hikes in Joburg
Gauteng Premier David Makhura

Growthpoint starts excavation work for Rosebank office development

By: Marleny Arnoldi     7th March 2018 JSE-listed Growthpoint Properties has started the excavation process for the 35 000 m2 144 Oxford premium-grade office development in Rosebank, Gauteng, with the project expected to be completed in October 2019.  

Growthpoint starts excavation work for Rosebank office development
Growthpoint Properties' 144 Oxford office development

Texton Property declares interim dividend of 47.95c

By: Simone Liedtke     5th March 2018 JSE-listed real estate investment trust (Reit) Texton Property, which has a portfolio of R5.4-billion of assets in South Africa and the UK, declared an interim dividend of 47.95c a share for the six months ended December 31. This, the company reported on Monday, was achieved from a solid... 

Hyprop lifts H1 distributions by 8.3% y/y

By: Simone Liedtke     2nd March 2018 JSE-listed specialist shopping centre real estate investment trust (Reit) Hyprop on Friday reported solid growth in distributions of 8.3% for the six months to December 31, which was driven by a stable performance from South African shopping centres and a strengthening South-Eastern European... 

Built environment summit in May

By: Dylan Slater     2nd March 2018 The Africa Summit of London-based Royal Institution of Chartered Surveyors (Rics) – which has entrenched itself as a noteworthy yearly event – will reconvene for the fourth consecutive year at Sun International’s Maslow Hotel in Sandton, Johannesburg, from May 30 to 31.  

Western Cape, financial institutions pledge commitment to affordable housing delivery

By: Simone Liedtke     1st March 2018 The Western Cape Department of Human Settlements on Thursday signed a memorandum of understanding (MoU) with five financial institutions operating within the affordable housing market, with the parties pledging their commitment to accelerating the delivery of affordable housing in the province.... 

Western Cape, financial institutions pledge commitment to affordable housing delivery
Memorandum of Understanding Signing Parties

RCL Foods eyes greater market share as new pet food facility opens

By: Megan van Wyngaardt     1st March 2018 Fast-moving consumer goods manufacturer RCL Foods on Thursday launched its new R150-million pet food manufacturing facility, in Randfontein. Through the establishment of the 1 500 m2 facility, which employs around 700 people, the company aims to take a greater share in the R5-billion a year South... 

RCL Foods eyes greater market share as new pet food facility opens
Photo by Dylan Slater
RCL Foods

Fairvest’s interim distributions increase 9.53% y/y

By: Anine Kilian     1st March 2018 JSE-listed real estate investment trust Fairvest announced solid results for the six months ended December 31, 2017, with interim distributions having increased by 9.53% year-on-year to 9.81c a share.   Revenue increased by 15.2% year-on-year to R186.9-million. 

Balwin expects to report lower FY18 earnings

By: Anine Kilian     28th February 2018 JSE-listed Balwin Properties expects to report a 23% to 28% year-on-year decrease in headline earnings a share and a 23.21% to 28.19% year-on-year decrease in earnings a share for the year ended February 28.       Balwin said in a trading statement on Wednesday that it has experienced delays in... 

Attacq lifts interim NAV, says transition to Reit on track

By: Anine Kilian     27th February 2018 JSE-listed Attacq reported a 10.1% increase in its net asset value to R23.51-billion for the six months ended December 31. The group generated distributable earnings a share of 38.9c, while its gearing ratio improved from 41.4% to 36.2%. 

WBHO sees 67% jump in profit, believes the cycle has bottomed out

By: Irma Venter     27th February 2018 Despite the changing political landscape in South Africa, the construction industry, which has been in the doldrums over the last 24 months, will not immediately experience a change in fortunes, warns Wilson Bayly Holmes-Ovcon (WBHO) CEO Louwtjie Nel. “Government has lots of obligations. We won’t... 

WBHO sees 67% jump in profit, believes the cycle has bottomed out
WBHO CEO Louwtjie Nel

MAS records 98% increase in H1 distributable earnings

By: Anine Kilian     26th February 2018 JSE-listed MAS Real Estate increased its distributable earnings by 98% year-on-year to €17.1-million for the six months ended December 31.   “The improvement in distributable earnings was driven by the full period effect of accretive acquisitions, the completion of developments and the deployment... 

Hyprop subsidiary acquires 90% interest in two Croatian shopping centres

By: Simone Liedtke     22nd February 2018 Hystead, a UK company co-owned by Hyprop Investments and PDI Investment Holdings (PDI) has acquired a 90% interest in two Croatian shopping centres from WKB 3 for €129.1-million. When completed, Hystead will own six shopping centres in five countries, with a gross asset value exceeding €740-million. 

Hyprop subsidiary acquires 90% interest in two Croatian shopping centres
City Center one Zagreb West

Sapoa continues to focus on transformation, advocacy 

By: Simone Liedtke     20th February 2018 The South African Property Owners Association (Sapoa), under the leadership of president Peter Levett, continues to focus on education, advocacy, transformation and research in the property sector. Sapoa plays a “pivotal role” in advocacy, providing targeted participation in legislative... 

Atterbury starts construction at R800m Midrand industrial park

By: Megan van Wyngaardt     20th February 2018 South African property developer Atterbury has started construction on Old Mint Park, a prime industrial development neighbouring the landmark South African Mint and fronting the N1 highway, centrally located between Midrand and Centurion. The R800-million project entails the development of a new... 

Atterbury starts construction at R800m Midrand industrial park

City of Cape Town welcomes 'major court victory for preservation of water sources'

By: News24Wire      20th February 2018 A ruling by the Western Cape High Court has been described as "a watershed ruling" for the preservation of Cape Town's rivers, floodplains, and wetlands. The judgment refers to a case in which the City approached the courts to order Really Useful Investments, a developer of the Hout Bay Beach... 

Liberty Two Degrees posts maiden full-year results

By: Dylan Slater     19th February 2018 South Africa-focused real estate investment trust (Reit) Liberty Two Degrees (L2D) on Monday posted a distribution of 59.22c a unit in its maiden full-year results.  

Discovery headquarters nears completion 

By: Marleny Arnoldi     16th February 2018 With the construction of health insurance and financial services provider Discovery’s head office set for completion at the end of this month, construction consultancy Aurecon believes that the building is set to become a pioneering green precinct concept, owing to its size and the way in which... 

Discovery headquarters nears  completion
Photo by WBHO
VISIONARY CONSTRUCTION The vision for the Discovery building extends beyond providing indoor environmental quality for the occupants, to the integration of a building into a healthier, more desirable surrounding precinct

Reuse of road construction materials mitigates road damage 

By: Simone Liedtke     16th February 2018 To eliminate extensive road damage, construction company Wirtgen SA sales manager Waylon Kukard explains that for an environment-friendly rehabilitation of road pavements, existing construction materials need to be fully reused, which significantly reduces material costs. 

Reuse of road construction materials mitigates  road damage
Wirtgen South Africa sales manager Waylon Kukard discusses the benefits of road rehabilitation and cold recycling. Camerawork: Nicholas Boyd.

Projects boding well for geotechnical contractor

By: Marleny Arnoldi     16th February 2018 Specialist geotechnical contractor and subsidiary of Keller Group, Franki Africa, is providing 46 000 Columns with Mixed Moduli (CMM) for the 350 000 m2 Clairwood logistics park construction site project.  

Projects boding well for geotechnical contractor
WAREHOUSING NEEDS The Clairwood logistics park is being built on Durban’s 91-year-old Clairwood racecourse site to meet the growing demand for A-grade logistics and distribution facilities in the south of Durban

Drones offer inspection and maintenance benefits for built environment

By: Dylan Slater     16th February 2018 Remotely piloted aircraft systems (RPASes) offer a cost-effective and safe mechanism, with significant benefits, for the built environment sector, especially in terms of inspection and maintenance, according to enterprise applications company Softworx MD Jane Thomson.  

Drones offer inspection and maintenance  benefits for built environment
JANE THOMSON Remotely piloted aircraft systems can lower costs, enhance general visibility and improve personnel safety
 

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