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Property News

Alley Roads’ Riverstone Mall kickstarts R600m development injection for Meyerton

By: Sabrina Jardim     16th May 2024 Property developer Alley Roads has unveiled Riverstone Mall in Meyerton – its first retail development currently under construction – as part of its pipeline of 175 000 m2 of retail space earmarked for township and peri-urban areas across South Africa. The development of the R370-million mall,... 

Equites reports sustained growth in rentals market

By: Darren Parker     14th May 2024 Real estate investment trust Equites Property Fund has reported sustained growth in its rental portfolio over the past few years and expects this trend to continue. In its results presentation for the 2024 financial year, where the company highlighted a dividend a share of R1.31 at a 100% payout... 

Equites CEO Andrea Taverna-Turisan
Photo by Creamer Media
Equites CEO Andrea Taverna-Turisan

Dipula reports improved metrics, hones in on solar

By: Sabrina Jardim     14th May 2024 JSE-listed real estate investment trust Dipula Income Fund has reported improved operational and financial metrics, as well as strategic gains in a period that marked the first phase of its new solar PV initiative roll-out for the six months ended February 29. Dipula’s revenue grew by 9% and its... 

Dipula Income Fund CEO Izak Peterson
Dipula Income Fund CEO Izak Peterson

Octodec grows interim retail income despite challenging conditions

By: Tasneem Bulbulia     14th May 2024 JSE-listed real estate investment trust Octodec Investments achieved income growth of 3.1% for the six months ended February 29, largely driven by higher rentals in its residential portfolio. Rental income for the period was just over R1-billion, compared with R974.2-million in the first half of... 

An image of Octodec's HealthConnect building
HealthConnect, which is adjacent to the Louis Pasteur Hospital, offering medical suites to doctors and medical specialists, was completed at the end of February, with occupation from March

Calgro M3 issues maiden dividend, posts robust results

By: Schalk Burger     13th May 2024 Residential-focused property developer Calgro M3 has issued a maiden dividend of 9.49c a share after posting a record gross profit margin of 27.25% for the financial year ended February 29, and profit after tax increased to R196.8-million, up from R186.29-million in the preceding financial year.... 

Calgro M3 CEO Wikus Lategan
Calgro M3 CEO Wikus Lategan

Contractors, sub-contractors battling as late payments accelerate – MBA North

By: Irma Venter     13th May 2024 The construction industry value-chain is at risk of collapsing as shrinking margins, unfair practices and payment issues continue to undermine the sector. This is according to members of the Master Builders Association (MBA) North, who warn that “urgent dialogue and change” are needed to address... 

Contractors, sub-contractors battling as late payments accelerate – MBA North

Raubex sees 28% bounce in its order book despite challenging environment

By: Irma Venter     13th May 2024 Raubex saw a 28% jump in its order book for the financial year ended February 29, to R25.55-billion, compared with R20-billion in the previous financial year. “This is testimony to our diversified business model,” said CEO Felicia Msiza on Monday as the group released its financial results. 

Image of Raubex CEO Felicia Msiza
Felicia Msiza

Balwin seeks to broaden access to padel in South Africa

By: Sabrina Jardim     10th May 2024 Balwin Padel, a division of JSE-listed property developer Balwin Properties, opened four new padel courts at its Thaba Eco Lifestyle Centre, in Gauteng, at the end of April. The sports centre now has six padel courts available to residents of the Thaba Eco Estate and to the public. Players can... 

An image depicting Balwin's padel courts

Conditions still challenging, but contractors report noticeable uptick – MBA North

By: Irma Venter     10th May 2024 Last year was one of the most challenging years the Master Builders Association (MBA) North has ever experienced, with many of its long-standing members entering business rescue or closing their doors, says MBA North executive director Mohau Mphomela. The 120-year-old employers’ body serves the... 

Equites starts wheeling power from distribution centre to head office in Cape Town

By: Marleny Arnoldi     8th May 2024 Property developer Equites Property Fund has officially started wheeling renewable energy onto Cape Town’s grid from solar panels atop its newly built distribution centre in Parow. The company is among the first to begin wheeling energy for the municipal grid, with its current offtaker being a... 

Equites' distribution centre, in Parow
Equites' distribution centre, in Parow

Attacq subsidiary acquires remaining 20% stake in Mall of Africa

By: Sabrina Jardim     7th May 2024 JSE-listed real estate investment trust (Reit) Attacq’s 70% held subsidiary, Attacq Waterfall Investment Company (AWIC), has acquired the remaining 20% stake in Mall of Africa from the Atterbury Group. AWIC already held an 80% stake in the asset. 

Mall of Africa
Mall of Africa

Redefine choosing to remain optimistic despite challenging market conditions

By: Tasneem Bulbulia     6th May 2024 JSE-listed Redefine Properties reported solid results for the six months to February 29, despite prevailing challenging economic conditions in South Africa, including the impact of high interest rates, loadshedding and consumer strain, CEO Andrew König said in a briefing on May 6. He said the... 

An image of Redefine Properties CEO Andrew König
CEO Andrew König

Flanagan & Gerard, Vukile acquire Mthatha shopping centre for R800m

By: Schalk Burger     24th April 2024 Retail property specialist company Flanagan & Gerard Property Group and JSE-listed real estate investment trust Vukile Property Fund have jointly acquired the BT Ngebs City regional shopping centre, in Mthatha, for R800-million and each will hold an equal share. The companies will also undertake... 

Flanagan & Gerard MD Paul Gerard
Flanagan & Gerard MD Paul Gerard

Balwin adds padel courts to Mall of Africa offering

By: Schalk Burger     22nd April 2024 JSE-listed real estate investment trusts Balwin and Attacq will open six new rooftop padel courts at the Mall of Africa in Waterfall City as demand for the lifestyle sport gains momentum. Four of the courts will be covered and the venue will also host the first Balwin Padel Club, with amenities... 

An artist's impression of the Padel courts to be built at the Mall of Africa

Conditions challenging, but some green shoots emerging – MBA North

By: Irma Venter     19th April 2024 Last year was one of the most challenging years the Master Builders Association (MBA) North has ever experienced, with many of its long-standing members entering business rescue or closing their doors, says MBA North executive director Mohau Mphomela. The 120-year-old employers’ body serves the... 

Conditions challenging, but some green shoots emerging – MBA North

Calgro M3 boosts stability with Rustenburg Memorial Parks expansion

By: Sabrina Jardim     16th April 2024 JSE-listed Calgro M3 Holdings – an entity specialising in integrated residential developments and memorial parks – is expanding its Memorial Parks division with the acquisition of a new park in Rustenburg, in the North West. The park has burial rights in place and is the sixth memorial park to be... 

Cape Town to tighten procurement process in effort to combat extortion

By: Irma Venter     12th April 2024 The City of Cape Town (CoCT) says the yearly review of its Supply Chain Management Policy proposes additional measures to reduce the risk of extortion impacting city projects. The proposed Supply Chain Management Policy Amendments are out for public comment until May 10. 

Image of Table Mountain, Cape Town

Concor stresses green building practices in its new Rosebank project

By: Rebecca Campbell     10th April 2024 South African construction group Concor has highlighted progress at its Green Star V2-rated Oxford Parks Block 2A Phase 1 project, in the Johannesburg suburb of Rosebank. Work started in February and the project is scheduled to take 17 months, with completion targeted for September next year.... 

Work under way on Oxford Parks Block 2A Phase 1
Photo by Concor
Work under way on Oxford Parks Block 2A Phase 1

CoJ promulgates reviewed municipal planning by-law

By: Darren Parker     9th April 2024 The City of Johannesburg’s (CoJ’s) Development Planning Department has promulgated the recently reviewed municipal planning by-law. The provisions of the reviewed by-law enable the city to simplify procedures and processes for land development applications, mechanisms to provide engineering... 

Johannesburg

Rainmaker Marketing releases Western Cape Property Market Report

By: Sabrina Jardim     5th April 2024 The Western Cape enjoys the lion’s share of semigration activity in South Africa and, as a result, has to cater to the shift in the market’s needs, says global property and lifestyle marketing agency Rainmaker Marketing director Stefan Botha. He was commenting on the publication of the agency’s... 

Rainmaker Marketing director Stefan Botha.
Rainmaker Marketing director Stefan Botha.

Old govt buildings to be converted into homes for State employees  

By: Darren Parker     5th April 2024 Human Settlements Minister Mmamaloko Kubayi wants to convert old and unused government buildings into residential properties for government employees. She said this was part of an effort to do away with apartheid spatial planning by bringing workers closer to their places of work or to existing... 

Human Settlements Minister Mmamoloko Kubayi
In this video, Human Settlements Minister Mmamoloko Kubayi discusses her department's efforts to provide housing.

Spear to acquire Western Cape properties from Emira

By: Sabrina Jardim     2nd April 2024 JSE-listed real estate investment trust (Reit) Emira and its wholly owned subsidiaries have agreed to dispose of 13 predominantly industrial and office properties situated in the Western Cape to Spear Reit for R1.15-billion in cash. On March 28,  Spear entered into two inter-conditional sale of... 

Calgro M3, Eris acquire Bankenveld District City development land parcel

By: Schalk Burger     2nd April 2024 A joint venture between JSE-listed property investment company Calgro M3 and property development company Eris has acquired a strategic land parcel for the Bankenveld District City development, in Gauteng, with the aim to deliver 20 000 to 30 000 housing units alongside significant commercial,... 

Calgro M3 CEO Wikus Lategan
Calgro M3 CEO Wikus Lategan

Human Settlements Minister outlines progress for 2023/24 year

By: Tasneem Bulbulia     28th March 2024 The government has made progress on its Medium-Term Strategic Framework targets and, as it wraps up this administration, believes these numbers will continue to increase, Human Settlements Minister Mmamoloko Kubayi said at the 2023/24 yearly media briefing on March 28. She noted that the... 

An image of Human Settlements Minister Mmamoloko Kubayi
Human Settlements Minister Mmamoloko Kubayi

Energy major gears up to roll out solar across retail sites as it marks South African centenary 

By: Terence Creamer     28th March 2024 Energy group bp Southern Africa (bpSA) has set the expansion of its service station network in South Africa as a key priority as it moves to mark its centenary in a country where it first began operating on May 9, 1924. Communications and external affairs head Hamlet Morule tells Engineering News... 

Four sites have been selected for a solar PV pilot project, after which solar PV will be rolled out to all bpSA-owned sites
Four sites have been selected for a solar PV pilot project, after which solar PV will be rolled out to all bpSA-owned sites

JDA looking for new contractor to finish Watt Street Precinct project

By: Darren Parker     27th March 2024 The City of Johannesburg’s infrastructure arm the Johannesburg Development Agency (JDA) has started the procurement process for a new contractor for the Watt Street Public Environment (PEU) project. This follows the termination of the main project contractor owing to poor performance. 

Watt Street precinct under construction

Attacq's Nexus 1 building achieves EDGE, Green Star certification

By: Schalk Burger     25th March 2024 Real estate investment trust Attacq's Nexus 1 building, in Waterfall City, which also serves as its headquarters, has received Excellence in Design for Greater Efficiencies (EDGE) certification. Nexus 1 has become the first Green Building Council of South Africa (GBCSA) Green Star-certified... 

The Nexus 1 building
The Nexus 1 building

‘It’s not all doom and gloom in our space’ – WBHO boss

By: Irma Venter     22nd March 2024 With a total pipeline of work of R240-billion, up from R211-billion in June, Wilson Bayly Holmes-Ovcon’s (WBHO’s) short- to medium-term future “should be okay”, says CEO Wolfgang Neff. “It’s not all doom and gloom in our space. I think it looks pretty good. Our earnings are at their best levels... 

Govt turns to private sector to fix public sector facilities  

By: Irma Venter     19th March 2024 Given the current economic downturn, government does not have the resources to look after all of its assets, says Department of Public Works and Infrastructure (DPWI) property management trading entity head Siza Sibande. “Hence we want to partner with the private sector to improve public... 

Govt turns to private sector to fix public sector facilities

TNPA seeks to unlock land value through big leasing offer across seven ports

By: Creamer Media Reporter      14th March 2024 South Africa’s State-owned Transnet National Ports Authority (TNPA) has released tenders for nearly 100 leasing opportunities across seven of its sea ports in line with a real estate strategy that aims to unlock the economic value of the land within the ports. At 26 apiece, the Ports of Cape Town... 

Port of Durban
Port of Durban

Attacq posts growth in interim distributable income

By: Marleny Arnoldi     12th March 2024 JSE- and A2X-listed real estate investment trust (Reit) Attacq has posted a higher distributable income per share (DIPS) of 36.9c for the six months ended December 31, 2023, compared with the DIPS of 35.9c apiece reported for the six months to December 30, 2022. CEO Jackie van Niekerk... 

Africa statue
Africa statue at Mall of Africa

Fortress achieves strong interim performance, simplifies capital structure  

By: Tasneem Bulbulia     11th March 2024 Real estate company Fortress Real Estate Investments says it successfully simplified its capital structure through the implementation of a single class of share, as well as achieved other operational successes during the six months ended December 31, 2023. CEO and MD Steven Brown on March 11... 

An image of Fortress's Clairwood Logistics Park
Fortress CEO and MD Steven Brown outlines the company’s strategic focus.

Construction of Turffontein Clinic resumes

By: Tasneem Bulbulia     7th March 2024 The construction of Turffontein Clinic has restarted following a temporary stoppage, the Johannesburg Development Agency (JDA) says in a statement. The two-storey, 1 870 m² facility is said to be rapidly taking shape, with the foundational structure emerging. 

Property transformation programme launched

By: Tasneem Bulbulia     6th March 2024 Industry regulator the Property Practitioners Regulatory Authority (PPRA) on March 6 launched the Transformation Property Partnership programme, which is aimed at enabling meaningful youth employment in the growing property sector as part of its transformation efforts. The programme is aimed at... 

‘It’s not all doom and gloom in our space’ – WBHO boss

By: Irma Venter     6th March 2024 With a total pipeline of work of R240-billion, up from R211-billion in June, Wilson Bayly Holmes-Ovcon’s (WBHO’s) short- to medium-term future “should be okay”, says CEO Wolfgang Neff. “It’s not all doom and gloom in our space. I think it looks pretty good. Our earnings are at their best levels... 

Image of WBHO housing project in Lesotho
Polihali dam housing project in Lesotho

Prefab buildings provider celebrates five decades

1st March 2024 Prefabricated buildings provider Kwikspace is celebrating more than five decades of delivering tailor-made solutions across diverse industries. With expertise spanning schools, clinics, mining, construction and humanitarian efforts, Kwikspace consistently prioritises exceptional customer service... 

Redefine to double renewable power to 80 MW in two to three years

By: Schalk Burger     27th February 2024 JSE-listed real estate investment trust (Reit) Redefine Properties, which has an installed solar photovoltaic (PV) capacity of 40.86 MW, is installing an additional 27.2 MW of capacity across its properties and has a further 17.66 MW of projects in the feasibility stage, COO Leon Kok said on... 

Solar panels being installed
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