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Construction News

Wits to use Frankenwald sale proceeds for special endowment fund

By: Schalk Burger 19th September 2024 The University of the Witwatersrand (Wits) says all proceeds from the sale of the Frankenwald Estate, in Gauteng, and the future sale of residential and commercial sites will be placed into a special endowment fund. This will be used to support its academic projects, including supporting talented... →

RMB funded renewables projects worth R50bn last year and is gearing up for private grid prospects

By: Terence Creamer 19th September 2024 Corporate and investment bank RMB reports that it financed renewable-energy investments worth R50-billion over the past year and is expecting ongoing high levels of renewables funding this year, while positioning itself to also finance private grid projects in future. Infrastructure sector... →

RMB infrastructure sector solutions head Judy Kobus

South Africa’s first Just Transition perception survey highlights low awareness and concern over impacts

By: Terence Creamer 18th September 2024 A new South Africa-wide survey shows that, while 62% of respondents support the shift from coal to renewable energy, a striking 65% have never heard of the term ‘Just Transition’. In addition, the majority of respondents expressed concern about possible negative impacts for themselves and their... →

Raubex to report up to 55% y/y increase in interim HEPS, EPS

By: Creamer Media Reporter 18th September 2024 Specialist infrastructure development group Raubex expects to report a "solid set" of financial results for the six months ended August 31, noting that its construction materials, roads and earthworks and infrastructure divisions delivered "more than satisfactory" performances. As a result,... →

Creecy sets year-end deadline for rail Network Statement amid ‘complicated tariff balancing act’

By: Terence Creamer 17th September 2024 Transport Minister Barbara Creecy says that, despite Transnet’s turnaround progress, the State-owned enterprise is not able to meet the target of increasing South Africa’s yearly rail volumes to 250-million tons alone. The Government of National Unity is, therefore, prioritising efforts to open... →

Transport Minister Barbara Creecy addressing a Steel and Engineering Industries Federation of Southern Africa conference in Ekurhuleni

Hyprop posts better-than-expected distributable income, looks to future growth

By: Tasneem Bulbulia 17th September 2024 Retail centre owner Hyprop has reported distributable income of 370.4c a share for the financial year ended June 30, a reduction of 8.6% year-on-year, but better than previously anticipated. In March, management warned shareholders there would be a 15% to 20% decrease in distributable income,... →

In the year under review, Hyprop acquired Table Bay Mall for R1.68-billion

Eskom completes first phase of host community housing renovations

By: Marleny Arnoldi 16th September 2024 State-owned power utility Eskom has completed the Masibambisane Air Quality Offset (AQO) project at low-income households in the Ezamokuhle community, in Amersfoort, Mpumalanga. The project has managed to reduce indoor air emissions and improve quality of life for households. →

Barloworld probes possible Russian export control violations

By: Irma Venter 16th September 2024 Barloworld says it has submitted a notification of “voluntary self-disclosure” to the US Department of Commerce’s Bureau of Industry and Security (BIS) on September 5 regarding “potential export control violations that the company is currently investigating, relating to the sales of certain goods... →

Caterpillar dump truck

Sacap engages with Ekurhuleni executives to improve human settlement projects

By: Marleny Arnoldi 16th September 2024 Architectural profession regulator the South African Council for the Architectural Profession (Sacap) has expressed dedication to work closely with the Ekurhuleni Mayor’s office and the Department of Human Settlements to overcome challenges and advance sustainable development. Sacap met with... →

BRICS Business Council working groups offer updates on work in the year-to-date

By: Darren Parker 13th September 2024 The BRICS Business Council has provided an update on its work thus far this year, reflecting on progress made and the challenges posed by the inclusion of Egypt, Ethiopia, Iran and the United Arab Emirates into the BRICS Plus alliance in January. The council’s working groups have been... →

7 Parks Boulevard earns Green Star 6 star rating

By: Schalk Burger 13th September 2024 Office development 7 Parks Boulevard, built by construction company Concor, has earned a Green Star 6 star rating in terms of the Green Building Council of South Africa’s Green Star-rating system. The office on the corner of Parks Boulevard and Eastwood Road in the Oxford Park precinct of... →

7 Parks Boulevard in Rosebank

Cape Town proposes new CBD spatial plan; expects up to 50 000 new inner-city residents by 2040

By: Irma Venter 13th September 2024 The City of Cape Town (CoCT) has invited the public to comment on its 2040 local spatial development framework (LSDF) for the central business district (CBD). The LSDF will guide decisions about land use, development, density, transportation and urban design. →

Image of CoCT's study areas for its LSDF

The LSDF study area

Transparent solar glass for generating power from building facades launched in South Africa

By: Darren Parker 13th September 2024 Through a collaboration between Australian glass solar technology developer ClearVue and local technology distributor Concept Business Solutions, a novel transparent glass solar panel technology for use in building facades has been launched in South Africa. Concept Business Solutions will be the... →

R217-billion investment set to transform eThekwini

13th September 2024 The eThekwini municipality aims to propel the city into a new era of prosperity through a R217-billion investment in development projects, which is expected to create 300 000 jobs. On August 14, eThekwini Mayor Councillor Cyril Xaba, along with the municipality’s executive committee, conducted an... →

Agency refines project implementation processes

By: Nadine Ramdass 13th September 2024 The City of Johannesburg’s (CoJ’s) implementing agency, the Johannesburg Development Agency (JDA), is focused on enhancing its project implementation unit and refining its project delivery model, says JDA acting CEO Themba Mathibe. The updated project delivery model involves a shift from... →

IMPROVED CONNECTIVITY The Johannesburg Development Agency completed 12 bus rapid transit stations to enhance the Rea Vaya bus range

Road reconstruction completed ahead of schedule

By: Nadine Ramdass 13th September 2024 Multidisciplinary professional engineering firm Zimile Consulting Engineers completed reconstruction of the N2 highway, between Durban, in KwaZulu-Natal, and Cape Town, in the Western Cape, a month ahead of schedule, following the closure of the route because it had partially collapsed. The... →

PAVING THE WAY Amid various challenges, Zimile completed the repair of a portion of the N2 within two months

Expansion of Infrastructure SA central to DPWI’s strategy, Telkom Towers deal to be probed – Macpherson

By: Irma Venter 13th September 2024 The expansion and capacitation of Infrastructure South Africa (ISA) is central to the Department of Public Works and Infrastructure’s (DPWI’s) strategy for increased infrastructure investment, says Public Works and Infrastructure Minister Dean Macpherson. ISA was established in 2020 to be a... →

R50-billion in tenders out to market, another R1.8bn to follow – Sanral

By: Irma Venter 13th September 2024 The South African National Roads Agency Limited (Sanral) says it is currently evaluating 96 tenders worth R35-billion, while 86 contracts worth R15-billion have already been awarded since the start of the 2024/25 financial year on April 1. →

NDB approves $1bn loan for SA, inks deal for more billions with Transnet

By: Irma Venter 13th September 2024 The board of directors of the New Development Bank (NDB) has approved a loan of up to $1-billion for the development of water and sanitation infrastructure in South Africa under government’s Municipal Infrastructure Grant (MIG). The MIG is a conditional grant allocated to municipalities to reduce... →

New impetus needed if South Africa is to begin meeting R&D investment goals

By: Martin Zhuwakinyu 13th September 2024 In the drive for economic advancement and global competitiveness, innovation stands as a pivotal force, with the Organisation for Economic Cooperation and Development (OECD) highlighting that a modest single percentage point increase in research and development (R&D) spend can potentially elevate... →

M&R positive about profitable returns from FY25 as rightsizing bears fruit

By: Marleny Arnoldi 12th September 2024 Engineering and contracting services company Murray & Roberts (M&R) has said the voluntary administration of its Australian businesses from December 2022, continued to impact it throughout the financial year ended June 30. The most notable issue for the company remains servicing its corporate... →

Murray & Roberts CEO Henry Laas discusses impacts to the business' financials in the year ended June 30

N2 Cape Town to get R2bn upgrade, R7bn to be spent on N1, Huguenot Tunnel – Sanral

By: Irma Venter 12th September 2024 The South African National Roads Agency Limited (Sanral) has a number of multibillion-rand projects in the pipeline in its Western Region, which includes the Western and Northern Cape. On a project-by-project basis, Western Region regional manager Randall Cable says a 12 km upgrade to the N2 in... →

Afrimat Construction Index bounces back in second quarter

By: Irma Venter 12th September 2024 The Afrimat Construction Index (ACI) has managed to bounce back in the second quarter of this year. The ACI is a composite index of the level of activity within the building and construction sectors and is compiled by economist Dr Roelof Botha on behalf of the JSE-listed midtier mining and... →

JDA appoints new board members

By: Schalk Burger 11th September 2024 The Johannesburg Development Agency (JDA) has appointed a new chairperson Julias Maputla, new non-executive directors and new members of its independent audit committee. The new board members bring a wealth of experience and expertise that will be instrumental in guiding the agency’s strategic... →

Growthpoint reports improved KPIs despite high interest rates

By: Sabrina Jardim 11th September 2024 JSE-listed retail estate investment trust (REIT) Growthpoint Properties has reported improvements in the majority of key performance indicators (KPIs), including arrears, rental reversion rates, valuations and vacancies, for its South African business for the financial year ended June 30 The... →

Growthpoint group CEO Norbert Sasse and Growthpoint South Africa CEO Estienne de Klerk discuss the company's results for the financial year ended June 30

M&R's attributable loss narrows to R138m

By: Creamer Media Reporter 11th September 2024 Engineering and contracting services company Murray & Roberts (M&R) has substantially narrowed its attributable loss to R138-million for the financial year ended June 30, from the loss of R3.18-billion reported for the 2023 financial year. Its results for the 2023 financial year were reflective... →

EIB, DBSA increase funding for private renewables projects to R11.9bn

By: Terence Creamer 11th September 2024 The European Investment Bank (EIB) has approved another €100-million (R1.98-billion) loan in support of the Development Bank of Southern Africa’s (DBSA’s) Embedded Generation Investment Programme, which is supporting the development of private solar PV and wind projects in South Africa. The... →

Photo by EIB
European Investment Bank VP Ambroise Fayolle

We all feel a lot better about South Africa, says WBHO boss

By: Irma Venter 11th September 2024 Wilson Bayly Holmes-Ovcon (WBHO) is currently in “a good space”, says CEO Wolfgang Neff. “We all feel a whole lot better about South Africa.” →

Wolfgang Neff

Attacq grows distributable income by 19.9%, full-year dividend by 19%

By: Schalk Burger 10th September 2024 JSE-listed real estate investment trust Attacq grew its distributable income per share for the financial year ended June 30 by 19.9% year-on-year to 86.2c, while its full-year dividend increased by 19% to 69c a share. Attacq delivered a solid operational performance, with the occupancy rate... →

R628m in EU grants to support South Africa’s goal of building green-hydrogen ecosystem

By: Terence Creamer 9th September 2024 The EU has announced R628-million (€32-million) in grant funding to support the development of South Africa’s nascent green-hydrogen industry, as well as to facilitate net-zero-related investments across Transnet’s rail, port and pipeline operations, including to prepare them for the production... →

European Commissioner for Energy Kadri Simson at a briefing in Pretoria

Vukile acquires €176m shopping centre portfolio in Portugal

By: Tasneem Bulbulia 9th September 2024 JSE-listed Vukile Property Fund’s 99.5% held Spanish subsidiary Castellana Properties has agreed to acquire a high-quality, blue-chip-tenanted portfolio of three shopping centres in Portugal. Castellana will acquire the assets from a Harbert European Real Estate Fund subsidiary at an initial... →

8a Avinda shopping centre

Sanral awards R1.4bn in contracts in the Eastern Cape; another R3.8bn to follow

By: Irma Venter 9th September 2024 The South African National Roads Agency Limited (Sanral) has awarded 12 road infrastructure contracts to the value of R1.4-billion in the Eastern Cape since the start of the 2024/25 financial year, with R3.8-billion more to be awarded by the end of the year. The awarded tenders include the... →

Construction work on the N2 Wild Coast project

Building sentiment improves again in the third quarter, but remains muted

By: Tasneem Bulbulia 9th September 2024 The First National Bank (FNB)/Bureau for Economic Research Building Confidence Index, which measures sentiment in the building sector, rose to 40 in the third quarter, from 35 in the previous quarter. While the level of confidence continues to improve, the majority of respondents, at 60%, are... →

FNB senior economist Siphamandla Mkhwanazi

Business calls for soul searching on Nedlac’s future amid big socio-economic shifts

By: Terence Creamer 6th September 2024 While reaffirming its commitment to the National Economic Development and Labour Council (Nedlac), organised business has again questioned whether the structure’s current composition and functioning are “fit for purpose”. Delivering the business constituency’s report at this year’s summit, which... →

Business Unity South Africa CEO Cas Coovadia

Macpherson signs two declarations of intent with Chinese groups

By: Irma Venter 6th September 2024 Public Works and Infrastructure Minister Dean Macpherson concluded his visit to China this week by signing two declarations of intent with the China Communications Construction Company (CCCC), as well as ASI Global. Macpherson travelled to China as part of an official State visit by President... →

Lategan, Joubert to leave Calgro M3 at year-end

By: Schalk Burger 6th September 2024 JSE-listed integrated residential developer Calgro M3 has informed shareholders that CEO Wikus Lategan and Memorial Parks MD Waldi Joubert have resigned, with effect from December 31, to pursue other interests. Ben Pierre Malherbe, who is a co-founder and former CEO of Calgro M3, will be... →

Calgro M3 CEO Wikus Lategan

Investment company on track to meet net-zero energy goals

By: Nadine Ramdass 6th September 2024 As part of its ambition to achieve Landlord Scope 1 and 2 Net-Zero Carbon by 2030 as well as implement sustainable practices, property investment company Liberty Two Degrees (L2D) has successfully implemented portfolio-wide energy management improvements, says sustainability lead specialist Brian... →

An image of solar panels at the Eastgate Shopping Centre

REACHING NEW HEIGHTS L2D produced 6 517 MWh through solar energy in 2023, savings of over R11.8-million in electricity costs.

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