JSE-listed IFA Hotels & Resorts (IFA SA) said on Monday it had acquired a 20% interest for R15m in a joint venture company set up for the purpose of acquiring the Legend Golf & Safari Resort development in Limpopo.
Renewals on 511, 923m2 valued at R1-billion were achieved, while new leases on 171,831m2 valued at R426-mllion were concluded.
...
Aug 29, 2007: Serviced Offices now available in Cape Town's Convention Tower
Habitaz Global Workspaces, provider of fully serviced office facilities and business services, has started selling its 1,800 square metres of prime space in Madison Property Group’s prestigious Convention Tower building in The Foreshore currently un...
An East London beachfront hotel is locked in a bitter dispute with a top Gauteng swimming club which it claims left them more than R100000 out of pocket.
In papers before the East London High Court, the Esplanade Hotel, which trades as Six Bar ...
Aug 29, 2007: WBHO full year HEPS up
Construction group Wilson Bayly Holmes Ovcom (WBHO) on Monday reported 512.1 cents in headline earnings per share (HEPS) for the year ended June compared with 351.7 cents a year ago.
A final dividend of 85 cents per share (2006: 54 cents) has b...
Aug 29, 2007: 'Don't pay out capital profits'
An issue coming strongly to the fore at the moment is the question of whether it's correct for listed property companies to distribute their unsustainable capital or development profits to unit holders, who are often unaware of the status quo, in order to...
The mixed-use development concept, well entrenched in Johannesburg and Cape Town, is starting to prove popular in other parts of the country with a R763m being development planned for...
Billion Group has been given the green light to build East London's regional shopping centre ahead of three other property groups.
Construction on Billion Group's 72000m2 shopping centre, situated next to Hemingways Casino, on the border of Ca...
Aug 29, 2007: Moody’s upgrades Growthpoint Properties Limited securitisation notes
Growthpoint Properties Limited has achieved a Moody’s Investor Services rating in excess of the South African Government sovereign ceiling for the notes issued during its most recent commercial mortgage backed securitization (CMBS) in November 2006
...
Aug 29, 2007: Massive new housing plan for Soweto
Plans are being drawn up for the biggest housing development in the province, including homes, schools, social and work facilities, as well as an agriculture hub
DOORNKOP Greenfields, one of the biggest mixed-use housing developments ever under...
Aug 29, 2007: CT office rental deal concluded
A local consultant recently concluded the lease of prime AAA grade office accommodation in Granger Court, Granger Bay, at Cape Town's V&A Waterfront, on behalf of Close Brothers, the UK's largest independent merchant bank.
The capital valu...
Aug 27, 2007: Growthpoint's shares climb well
Growthpoint Properties Limited this week announced a distribution of 93,1c per linked unit (cplu) for its financial year ended 30 June 2007.
The results show a 14,5% increase on the distribution of 81,3cplu achieved by the fund in its 2006 res...
Aug 27, 2007: Professionals flock to Dbn's Berea
Rezoning along roads fringing the industrial area in Durban's Berea has led to an influx of professionals who are turning stately old homes into upmarket offices.
"Granting business rights along these roads was an inspired move and is lead...
So says Selwyn Sharon, leasing and sales consultant for Pam Golding Commercial (PGC), who recently concluded the sale of 218 Sir L...
Aug 27, 2007: Property fund shows good growth
Property group SA Corporate Real Estate Fund (SAC) reported a 26% rise to 17c in distribution per linked unit for the interim period ended June, it reported on Thursday.
Income rose to R277,4m from R153,8m while rental income increased to ...
HOUSE price inflation slowed slightly to 18,4% year-on-year in April this year, from 18,7% recorded in March, according to the latest Lightstone Residential Property Indices.
...
Aug 23, 2007: 5th Annual IPD/SAPOA Property Investment Conference
South African Real Estate is fast coming up on the screens of mainstream international investors as a market with serious allure. Greater world liquidity and higher prices are expected to lure offshore asset-chasers to SA on an unprecedented scale.
...
Aug 23, 2007: The comeback of the Century
When Nedbank wanted to offload the property assets it inherited from its BoE acquisition in the early 2000s, there were few takers for what was then considered by many to be the ill-fated mega-mall Canal Walk at Century City in Cape Town
Mid-20...
Aug 23, 2007: Office Property Market set to shine
The SA economy is expected to show growth of 4.5% to 5% p.a. over the next 18 months. This is likely to drive demand for office space; however supply will remain constrained while vacancies are coming down
Not only is the mega-mall Hyprop's single biggest investment - its 80% undivided share in the R3,75bn (R3bn) mall represents 43% of H...
Aug 23, 2007: Fundamentals and acquisitions drive Growthpoint results
Growthpoint Properties Limited this week announced a distribution of 93,1 cents per linked unit (cplu) for its financial year ended 30 June 2007. The results show a 14.5% increase on the distribution of 81, 3 cplu achieved by the fund in its 2006 results
...
Aug 22, 2007: PUT price drop 'temporary'
The recent drop in South African Property Unit Trust (PUT) share prices has caused some concern in the listed property market.
Analysts have generally attributed this softness in the market to the following combination of reasons: 1. Cen...
The AAA grade offices will not only serve as the official headquarters for MSP Developments, but will also be the first comme...
Aug 22, 2007: Doyen of Commercial Property Kuper Dies
COMMERCIAL property doyen David Kuper died early yesterday morning in Johannesburg's Milpark Hospital where he was being treated after being injured in a car accident on August 9.
Kuper, 73, was chairman of Investec Property Group and Investec ...
THE number of people skilled in the property industry needs to double within the decade to keep pace with expected economic growth of 5%-6%, says Colin Young, head of institutional property investments...
DURBAN — Increasing rentals, driven by the shortage of serviced land in the KwaZulu-Natal business hub emerging towards Umhlanga, are forcing corporations and developers to consider shifting their ...
WILL the commercial property development boom be halted by the uncertain interest rate environment?
Property analysts do not think so, saying any additional cos...
Aug 21, 2007: RMB Properties Expands into Africa
RMB Properties’ property development division is dipping its toe into the property development market in some of SA’s neighbouring African countries
RMB Properties has had a presence in Botswana and Zambia for the past year or so an...
Purchasers of immovable property from foreigners in SA will be required to withhold taxes on the purchase price and pay them to the South African Revenue Service (SARS), according to new tax laws.
Jonga Entabeni, the company involved in the development of the Big Bay project and which is part of businessman Tokyo Sexwale's Mvelaphanda group, has rejected claims that Democratic Alliance (DA) councillor Dan Plato is a "partner" in the co...
Aug 20, 2007: No expropriation with coastal bill
A new bill proposing an integrated system of coastal management will not lead to expropriation of beach-front properties, members of Parliament (MPs) were assured on Wednesday.
But officials of the Department of Environmental Affairs and Touris...
Aug 20, 2007: Rental space demand set to rise
Property developers in all fields – commercial, retail, industrial and residential – are likely to be able to cash in on an increased demand for rental space in the next two to three years.
"I agree with what Dr Azar Jammine ...
Aug 20, 2007: Group to build retail centre
A property group is to buy land and fund the development of a retail complex to be called The Village Walk in the Northern Cape.
The deal will cost Diversified Property Fund (Diversified) R134.6m of which R6.3m will be paid in cash on transfe...
The hotel, which was originally built 70 years ago and has since expanded to its current 318 rooms, will undergo a major redevelopme...
Aug 16, 2007: Big appetite for property ‘will keep prices up’
The Public Investment Corporation’s (PIC’s) intention to increase its property exposure will probably underpin property values in SA even in the event of a further increase in interest rates, says Angelique de Rauville, MD of Investec Listed P...
Sycom, which has a market capitalisation of R3,5bn and property assets worth about R4bn, said the acquisitio...
Aug 16, 2007: PIC to compete with listed firms
The Public Investment Corporation (PIC), which plans to invest about R70bn in property assets over the next five years, is increasingly going to be competing with listed property companies for scarce property stock
However, the PIC has an advan...
Aug 15, 2007: Esteemed professor joins SAPOA
The South African Property Owners Association (SAPOA)'s focus on professional education and training will receive a firm boost this week with the appointment of respected Professor Francois Viruly to the board of directors.
Group Five, which reported its final results on Monday, said earlier this year that it has sold some of its businesses and that ...
Aug 15, 2007: R93m warehouse complex in Jet Park
Construction of a R93m warehouse development is under way in Jet Park, an industrial and commercial township near OR Tambo International Airport.
The development, for leasing on the open market, will comprise two units of 10 000sq m each which...
“Net revenue and capital growth have successfully driven investment real estate’s performance evaluation for hundreds of years. Is all of this going to change as Corporate Social Responsibility (CSR) programmes change the proven econ...
This change follows the corporate activity, which resulted in the unbundling and separate JSE listing of Hulamin and the introd...
Aug 15, 2007: New law allows over 18’s to buy property
Now 18-year-olds can legally purchase or sell property or apply for a mortgage bond without the assistance of their legal guardians or parents, thanks to new ‘age of majority’ law enacted this month
Aug 14, 2007: Boost for property market
The roll-out of extensive infrastructural development for Cape Town in the run-up to the 2010 World Cup, is good news for the city’s property market. So says Mick Joyce, regional MD of Pam Golding Properties, who believes the improvement of th...
MONEYWEB: Mike Upton is with us. He's the chief executive of Group Five. David Shapiro said a little earlier, before you came into the studio, that this is his favourite construction share, M...
If you're invested in a major property unit trust, it's likely that your returns over the past 12 months have been similar to the performance of the JSE's property index. This is not a coincidence: the portfolios of several property uni...
Construction of a new R330-million regional shopping centre in Jeffreys Bay has commenced. The 30 000m² Fountains Mall is being developed by a consortium comprising Atterbury Property, Retail Africa, Prosperito, Orange and Vuwa.
The distributions of listed property loan stock company Resilient Property Income Fund have surged 19,71% to 67,97c a linked unit for the six months to June, compared with those of the previous corresponding period.
So says Barak Geffen, Executive Director of Sotheby’s International Realty South Africa who says statistics from South America’s property market shows despite high average house prices, foreign investors do not affect the price of af...
One of the biggest urban-planning changes in the city of Joburg's history is looming, with spacious suburbs possibly having to make way for giant apartment and office blocks.
The plans, already preliminarily passed at a council meeting, will se...
Melville may be getting a pedestrians-only zone after residents approved a plan to open trendy 7th Street to foot traffic only.
Cars on the congested street lined with bars and restaurants may give way to tables and revellers with parking provi...
Aug 13, 2007: R200m for Richtersveld land claim
Cabinet on Wednesday approved the settlement reached with the Richtersveld community regarding the claim against both Alexkor and the state for land in Alexander Bay.
The settlement brings to an end a protracted court case in which billions of ...
Aug 13, 2007: PIC deal spurs empowerment
There is a commotion in prime office accommodation in South Africa with the acquisition by the Public Investment Corporation (PIC) of listed property fund CBS in which it has taken control of the majority of shares.
Following Competition Tribu...
Aug 13, 2007: New players enter fractional fray
Leisure property investors are becoming spoilt for choice as more and more developers and real estate groups start to add fractional ownership options to their product offering.
Leisure property investors are becoming spoilt for choice as more ...
THE 70-year-old Rosebank Hotel in Johannesburg is undergoing a R250m redevelopment that will reposition it to take full advantage of increasing demand for hotel accommodation in the area. ...
Aug 13, 2007: Stoneridge on track
LISTED property loan stock company Hyprop Investment’s new Stoneridge Shopping Centre in Greenstone Park, Modderfontein, is on track for completion by October next year.
Hyprop MD Pieter Prinsloo says that indications are at this stage th...
With buildings consuming nearly 50% of the world's energy, and with the ability of developers to reduce energy consumption in buildings by over 50% through 'green bui...
Aug 08, 2007: New Hotel For Seychelles' Ste Anne An international leisure firm has entered into a joint venture with a resorts company to build a hotel on the Ste Anne Island in the Seychelles.
IFA Hotels & Resorts (IFA HR) has announced a joint venture partnership with ...
Aug 08, 2007: New Swazi Resort In Development
A new resort development in Southern Swaziland will launch on 6 September 2007. Set on Lake Jozini and with the Lubombo Mountains as a backdrop, the Royal Jozini Big Six is a fully functioning resort offering a wide range of first class amenities to lodge...
Aug 08, 2007: Developers Threaten Ct's Gay Spirit
Cape Town's gay and lesbian community fear that rampant property development in the Waterkant village adjacent to the historic Bo-Kaap will change the gay-friendly face of Cape Town.
The fashionable area, known as a bastion of the gay community...
Aug 08, 2007: Strike More Harmful Than Credit Act
The national four-week long public sector strike has had a more negative impact on parts of South Africa's property sectors than the new National Credit Act, which was implemented on 1 June, the day the strike began.
The Eastern Cape government failed to spend R246-million of the close to R3-billion it received as conditional grants from the national treasury in the last financial year.
An amount of R125-million of the integrated housing and human resettlem...
Aug 08, 2007: Madison Property Fund’s distributions boosted
Madison Property Fund Managers has again exceeded market expectations with its interim distribution to unitholders of 36 cents per linked unit for the six-months to 30 June 2007
This distribution represents an increase of 23% against the pro-ra...
PortT Elizabeth-based Boom Town Advertising last week signed a multi-million rand Coega communications contract, the biggest the agency has landed to date.
Boom Town, together with its joint venture partners, formally signed the R15-million agr...
South Africa should consider a moratorium on foreign land ownership as an option to ensure the country's citizens are not excluded from the real-estate market, a government-appointed advisory panel recommended.
Other proposals included in the p...
Aug 07, 2007: Melrose Arch Piazza Scheme: a concrete development
The development of the new R1,1 billion Melrose Arch Piazza, which comprises street-level shopping and upper-floor offices in the successful Melrose Arch mixed-use precinct in northern Johannesburg, is progressing well with construction rising above the g...
South African legislation stipulates that any gains m...
Aug 06, 2007: Record Price For Potch Smallholding
The recent sale of a smallholding for a record price of R2.22 million reaffirms the growing demand for homes across all sectors of the market in Potchefstroom.
The previous highest price paid for a similar property was R1.9 million. With 70 per...
Aug 06, 2007: Exclusive Estate Goes Fractional
Until recently few could get their hands on a piece of prime property at Pinnacle Point Beach and Golf Resort (PPB&GR) at Mossel Bay, voted one of the top ten best new golf courses in the world by US magazine Travel + Leisure GOLF earlier this year an...
The provincial government's multi-million-rand plan to centralise the head offices of its departments in Bhisho is on the threshold of a major breakthrough.
Speaking in East London yesterday, Finance MEC Billy Nel said Bhisho was about to sign ...
The Eastern Cape's longest airstrip at Bhisho airport has been closed for six weeks as part of a R100 million project to blow new life into the Ciskei-era structure.
Provincial transport spokesperson Ncedo Kumbaca said workers would be touching...
Aug 06, 2007: Down at The Boardwalk
Richards Bay’s Boardwalk Shopping Centre is undergoing a major facelift and expansion that, upon completion, will make it the 11th largest shopping mall in South Africa
It’s good news for Zululand shoppers, who regularly travel to D...
The bar has been raised on prime office accommodation in South Af...
Aug 02, 2007: Richards Bay Centre Gets Facelift Richards Bay's Boardwalk Shopping Centre is undergoing a major facelift and expansion that, upon completion, will make it the 11th largest shopping mall in South Africa.
It's good news for Zululand shoppers, who regularly trave...
South Africa should consider a moratorium on foreign land ownership as an option to ensure the country's citizens are not excluded from the real-estate market, a government-appointed advisory panel recommended.
HILLBROW is considered the most challenging of the inner-city suburbs when it comes to private and public sector rejuvenation efforts, but organisations such as the Johannesburg Housing Company (JHC) a...
DEMAND for industrial space has seen the first two phases of the Raceway Industrial Park, a joint venture between Atterbury Property Development and listed property loan stock company Pangbourne Properti...
PORT Elizabeth is planning to develop an international convention centre at a cost of R500m, and is calling on local and international developers to submit expressions of interest. The Mandela Bay Develo...
Aug 01, 2007: Listed property holds up in big equities selloff
While global equity markets and the FTSE/JSE all share index took a battering in the sell-off last week, the South African listed property sector has surprised commentators by remaining remarkably resilient.
Investors, developers, town planners, architects, civil engineers, quantity surveyors and ...
Aug 01, 2007: ApexHi Produces 17% Growth In Annual Distributions
ApexHi Properties Limited has announced a 17% growth in annual distributions, reporting a combined annual distribution of 285,50 cents (2006: 244,00 cents) and a total annual return of 62% for the year to 30 June 2007
The fourth quarter’s...
Aug 01, 2007: Work on Zonk'Izizwe site to start this year
Infrastructure development for the mixed-use property site Zonk'Izizwe in Midrand is due to start at the end of the year, says Old Mutual Investment Group Property Investments.
The project, which is expected to cost between R15bn-R20bn, will e...
A special sitting of the Cape Town city council yesterday approved the final building plans for the city's 2010 World Cup soccer stadium in Green Point, passing yet another mark in the regulatory process towards the completion of the R2,85bn stadium. <...
