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Construction News

Protectionism not the answer to South Africa’s economic problems, CDE says

By: Darren Parker 20th November 2024 Think tank the Centre for Development and Enterprise (CDE) has called for an overhaul of industrial policy to move it away from protectionism and towards a focus on maximising exports. The organisation on November 20 said a new approach to master plans, tariff-setting and competition policy was... →

Namibia has best roads in sub-Saharan Africa, with South Africa scoring on par with Rwanda, Mauritius

By: Darren Parker 20th November 2024 According to the ‘Global Competitiveness Index’ compiled by the World Economic Forum and hosted on the World Bank's Prosperity Data360 platform, Namibia ranks highest in sub-Saharan Africa for road quality, achieving a score of 5.31 out of seven on a scale used to evaluate infrastructure.... →

Frank discussion needed about 30% local procurement rule – Macpherson

By: Irma Venter 19th November 2024 The country must have a frank discussion about the 30% local procurement rule, which has been abused by the so-called construction mafia, says Public Works and Infrastructure Minister Dean Macpherson. Macpherson spoke at the National Construction Summit on Crime-Free Construction Sites, held in... →

Dean Macpherson

PPC moving into second phase of its recovery plan

By: Schalk Burger 18th November 2024 JSE-listed cement and construction materials company PPC has started working on the second phase of its turnaround strategy, with the benefits of its first phase evident in its results for the six months to September 30. Despite revenue declining by 4.2% to R5.06-billion, from R5.28-billion in... →

PPC CEO Matias Cardarelli

Afrirent secures lease to develop prime site next door to Cape Town convention centre

By: Irma Venter 18th November 2024 Afrirent Holdings has secured the winning bid to develop a prime site located next to the Cape Town International Convention Centre (CTICC). The right to construct a mixed-use development, valued roughly at R1.2-billion, follows a public lease auction, with Afrirent Holdings submitting the... →

The area earmarked for development

African, Japanese institutions sign MoU to accelerate energy investment in the continent

By: Rebecca Campbell 18th November 2024 The Africa Finance Corporation (AFC) has signed a memorandum of understanding (MoU) with the Japan Institute for Overseas Investment (JOI), aimed at scaling up investment flows into Africa. The AFC is focused on financing the development of core infrastructure (that is, power, natural resources,... →

Public Works to blacklist ‘criminal’ contractors as delayed projects reach R3-billion

By: Irma Venter 15th November 2024 Out of the 206 infrastructure projects overseen by the Department of Public Works and Infrastructure (DPWI) this financial year, 164 projects are experiencing delays, says Public Works and Infrastructure Minister Dean Macpherson. Addressing Parliament this week, he said this represented a 79%... →

Dean Macpherson

Umbogintwini bridge to be upgraded with modern construction engineering technology – Sanral

By: Schalk Burger 15th November 2024 The Umbogintwini River Bridge, on the N2 in KwaZulu-Natal, is part of the R50-billion upgrade programme of the N2 and N3 freeways in the province, and advanced engineering technology will in future prevent the kind of failure of concrete bars that led to its temporary closure. “The supports... →

Sustainable Fitch expands Transition Assessment to mining, steel, cement sectors

By: Tasneem Bulbulia 15th November 2024 Sustainable Fitch, a FitchSolutions company, has launched an expanded Transition Assessment analytical product, through the development of new sector-specific methodologies, covering additional hard-to-abate sectors – mining, steel and cement. This is in addition to the Transition Assessment... →

Sustainable Fitch has launched an expanded Transition Assessment analytical product covering additional hard-to-abate sectors – mining, steel and cement

Construction mafia remains a major problem, warns MBA North

By: Irma Venter 15th November 2024 The problem posed by the construction mafia on the ground remains a major stumbling block in the recovery of the construction industry, and especially its ability to create more jobs, says Master Builders Association (MBA) North executive director Mohau Mphomela. “The construction mafia remains... →

Level crossing incidents not only cost lives but also the economy, TFR CEO says

By: Darren Parker 14th November 2024 Railway safety incidents, such as pedestrian and vehicle collisions at level crossings, are not only tragic but are severely undermining South Africa’s rail recovery plans, Transnet Freight Rail (TFR) CEO Russell Baatjies said on November 14. “We’ve had 36 level crossing incidents just this year,... →

Emira’s reshaped portfolio supports strong interim performance

By: Tasneem Bulbulia 13th November 2024 JSE-listed Emira Property Fund achieved a positive performance for the six months ended September 30, owing to strengthening operational metrics, active asset recycling and strategic deal-making, reflected in its reshaped portfolio, CEO Geoff Jennet says. The company is on track to deliver on its... →

CEO Geoff Jennet

Dipula records 4% increase in property portfolio value for 2024

By: Darren Parker 13th November 2024 JSE-listed real estate investment trust (Reit) Dipula Income Fund’s property portfolio has increased by 4% in value to R10.2-billion in the financial year ended August 31, contributing to a 5% rise in net asset value. Dipula has a portfolio of 165 retail, office, industrial and residential rental... →

Dipula CEO Izak Petersen

Sustained investment in transport infrastructure to drive growth and competitiveness – SAICE

By: Schalk Burger 13th November 2024 Given South Africa's significant infrastructure challenges, sustained investment in transport infrastructure is critical to drive economic growth and improve the quality of life for citizens, says industry professionals' organisation South African Institution of Civil Engineering (SAICE) CEO... →

Cape Town’s Mayco greenlights release of prime Green Point site for mixed-use development

By: Irma Venter 13th November 2024 The City of Cape Town’s (CoCT’s) Mayoral Committee (Mayco) has greenlit a public participation process to release prime property in Green Point for mixed-use development, including affordable housing and commercial opportunities. The property is situated at 1 Three Anchor Bay road, Green Point,... →

The proposed development site

South Africa declares national disaster after floods, storms

By: Bloomberg 13th November 2024 South Africa declared a national disaster after floods and storms caused widespread damage in the country, allowing the government to free up funds for relief and reconstruction. Disruptive rains, floods, strong winds and hail from October 22 to 29 affected the Eastern Cape, KwaZulu-Natal, Free... →

340 ha, mixed-use The Bridge urban development opened in Stellenbosch

By: Schalk Burger 12th November 2024 The 340 ha mixed-use urban development precinct The Bridge was opened in Stellenbosch, in the Western Cape, on November 7. The Bridge represents a commitment to community-focused growth, sustainability and innovation. R60-billion is projected to be injected into the economy and 13 000 permanent... →

Equites raises R558m in debt auction

By: Sabrina Jardim 12th November 2024 JSE-listed real estate investment trust (REIT), Equites Property Fund has raised R558-million through the public auction of three-year and five-year listed senior unsecured floating rate notes in the South African debt capital market. Equites raised R188-million in a three-year note maturing... →

R5.2bn Potsdam upgrade on track for completion in 2027 – City of Cape Town

By: Irma Venter 12th November 2024 Twenty months into the large-scale upgrade of the Potsdam wastewater treatment works (WWTW), the City of Cape Town (CoCT) says the R5.2-billion project is on track to be completed in 2027. The upgrade is being executed through two construction contracts – one for civil infrastructure and another... →

Construction work at Potsdam WWTW

Raubex grows interim revenue and profit, declares dividend

By: Schalk Burger 11th November 2024 JSE-listed construction materials and mining company Raubex has increased its revenue by 29.7% to R10.95-billion for the half-year period to end August, up from R8.45-billion in the comparable period of the prior financial year. The group also increased its operating profit by 34.7% to... →

Transaction adviser to validate strategy for Port of Durban’s liquid-bulk hub

By: Creamer Media Reporter 11th November 2024 South Africa’s Transnet National Ports Authority (TNPA) has appointed Zutari as the transaction adviser at the Island View precinct, the Port of Durban’s fuels and chemicals hub through which about 74% of South Africa's liquid bulk imports are managed. Zutari will validate TNPA’s ‘Island View... →

Port of Durban

Sephaku grows revenue, net profit in half-year to end September

By: Schalk Burger 8th November 2024 JSE-listed building and construction materials company Sephaku Holdings (SepHold) has reported an increase in group consolidated revenue to R613.8-million for the six months to September 30, up from R626.6-million in the interim period to end September 2023. The company increased its net profit... →

IPP Office to oversee pilot procurement of private independent transmission projects

By: Terence Creamer 8th November 2024 Government has confirmed that the Independent Power Producer Office (IPPO), which has overseen the public procurement of more than 7 300 MW of operational renewable-energy capacity since 2011, will oversee a pilot programme to procure South Africa’s first independent transmission projects (ITPs).... →

Partial collapse of Umbongintwini River bridge highlights need for infrastructure maintenance – CESA

By: Schalk Burger 8th November 2024 The partial collapse of the Umbongintwini River bridge on the N2 southbound, in KwaZulu-Natal, highlights the urgent need for comprehensive infrastructure maintenance across South Africa, industry organisation Consulting Engineers South Africa (CESA) says. “This incident highlights the importance... →

FNB's 5-Star Green rated Portside building hosts Earthshot Awards 2024

By: Schalk Burger 7th November 2024 Financial services firm FNB's 5-Star Green rated Portside building, which is the tallest building in Cape Town, hosted sustainability awards the Earthshot Prize Awards 2024 from November 4 to 7. "Our Portside building is a visual representation of sustainability, climate impact and social... →

Eskom secures R125m grant from AFD to advance Tubatse pumped storage project

By: Terence Creamer 7th November 2024 Eskom has signed a R125-million grant agreement with Agence Française de Développement (AFD) to support the development of the proposed Tubatse pumped storage system project, located in the Elias Motsoaledi Local Municipality in Limpopo. The 1.5 GW Tubatse project, which would be pursued as a... →

Eskom CEO Dan Marokane

Association launches Sustainability Disclosure Guide for South African Reits

By: Sabrina Jardim 7th November 2024 The South African Real Estate Investment Trust Association (SA REIT) has, in partnership with Nedbank Corporate and Investment Banking (CIB), launched the SA REIT Sustainability Disclosure Guide, aimed at establishing sustainability standards and best practice benchmarks for the real estate... →

SA REIT CEO Joanne Solomon

Scatec’s new sub-Saharan Africa head keen to advance 5GW project pipeline

By: Terence Creamer 6th November 2024 The newly appointed head of Scatec’s sub-Saharan Africa business, Alberto Gambacorta, says the group is pursuing a 5 GW pipeline of renewable energy and storage opportunities in the region and especially South Africa, which is already the Norwegian group’s global hub for engineering and... →

Scatec sub-Saharan Africa GM Alberto Gambacorta

Growthpoint starts construction on second development phase at Cape Town industrial estate

By: Schalk Burger 6th November 2024 Real estate investment trust Growthpoint has started construction on the second development phase of its Arterial Industrial Estate, in Blackheath, Cape Town. Arterial Industrial Estate is on a 71 656 m2 site in the heart of Blackheath, which is a growing and modernising industrial node in Cape... →

An aerial view of the Arterial Industrial Estate in Cape Town

Sandton City aims to procure wheeled renewable energy from IEP platform

By: Schalk Burger 6th November 2024 Shopping centre Sandton City, in Gauteng, has announced its interest in procuring renewable energy over the Independent Energy Pool (IEP) platform through the development and deployment of wheeled renewable-energy solutions for the centre. This initiative is part of Sandton City’s commitment to... →

M&R foresees more immediate liquidity challenges as Venetia contract ends

By: Marleny Arnoldi 5th November 2024 Engineering and contracting group Murray & Roberts (M&R) has advised that its interim earnings for the six months ended December 31 will be impacted on by the loss of business it had in place with De Beers’ Venetia operation, in South Africa, as well as continued liquidity constraints. M&R’s... →

Same standards for imports, quality control needed to revitalise cement and construction

By: Schalk Burger 5th November 2024 To achieve the economic growth necessary to tackle South Africa's very high levels of unemployment, it is vital that the public and private sectors collaborate in launching critical infrastructure projects. However, for this revival to be sustainable, the local cement industry must operate under... →

R7bn second phase MyCiTi rollout 50% complete, includes SA’s first-ever sky circle

By: Irma Venter 5th November 2024 The R7-billion rollout of the second phase of Cape Town’s MyCiTi bus service, linking Khayelitsha, Mitchells Plain and other communities across the metro south east corridor, is 50% complete, says City of Cape Town (CoCT) Mayor Geordin Hill-Lewis. Work on the 44-month project started in 2022. →

An artist's impression of the sky circle, once completed

RMB, REdimension Capital, GBCSA release ESG proptech report

By: Darren Parker 4th November 2024 Financial institution Rand Merchant Bank (RMB) has, in partnership with REdimension Capital and the Green Building Council of South Africa (GBCSA), released an environmental, social and governance (ESG) property technology (proptech) report. The report, titled ‘Building the Future’, explores the... →

AECI to sell Much Asphalt for R1.1bn

By: Darren Parker 4th November 2024 JSE-listed AECI has announced the signing of a share purchase agreement with a consortium involving Old Mutual Private Equity (OMPE) and Sphere Investments to sell its entire ownership stake in wholly-owned subsidiary Much Asphalt for an estimated R1.1-billion. The deal will be financed through a... →

Creecy encourages road user behaviour change as she discusses Moloto road progress

By: Sabrina Jardim 4th November 2024 Significant progress has been made on the R15-billion upgrade of the Moloto road which, once completed, is expected to help improve safety on one of the country’s most dangerous roads, remarked Transport Minister Barbara Creecy during an inspection of the 138 km stretch of road spanning Gauteng,... →

Transport Minister Barbara Creecy

Redefine reports improvements in occupancy, overall demand

By: Marleny Arnoldi 4th November 2024 JSE-listed real estate investment trust (Reit) Redefine Properties has posted a distributable income per share (DIPS) of 50.02c and a dividend of 42.52c apiece for the financial year ended August 31. This compares with DIPS of 51.53c and a dividend of 43.80c in the prior financial year. →

Redefine CEO Andrew König

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