Fairvest CEO, Darren Wilder says the company has elected, by mutual agreement, to not proceed with its friendly merger with Safari Investments.

Fairvest abandons its merger offer for Safari while Comprop ups its stakes

Fairvest Property Holdings today said it has abandoned its friendly merger with shopping mall owner Safari Investments (JSE: SAR), while Cape Town-based Comprop ups the stakes.

Emira Property Fund CEO Geoff Jennett, says its international and residential strategies helped the company to counter the effects of the relentlessly difficult domestic economy that is impeding growth.

International and Residential exposure helps Emira distribution growth

Investing >>

Municipalities in terrible state

MOST South Africa’s municipalities are in a financial state so terrible, threatening their ability to deliver services, says Auditor General (AG) Kimi Makwetu on Wednesday.

Companies >>

Safari Investments (JSE: SAR) which owns Mamelodi's Denlyn Shopping Centre in Pretoria, said it had received a R1.8 billion cash buy-out offer from Community Property (Comprop).

Comprop launches R1.8bn takeover bid for Safari Investments

Unlisted property group, Community Property (Comprop) has launched a R1.8-billion buy-out abid to acquire the entire issued share capital of JSE-listed mall owner Safari Investments (JSE: SAR).

Gauteng >>

Deserted factories to be converted into Affordable Housing

The City of Johannesburg (COJ) says it has identified abandoned factories in the city that it plans to expropriate in order to allow the private sector to turn them into low-cost affordable housing.

Western Cape >>

Mayor Dan Plato said the budget was geared towards improving safety, urban renewal and human settlements.

City of Cape Town's R50 billion 2019/2020 budget

The Cape Town council has approved a budget of just over R50 billion for the 2019/2020 financial year.

KwaZulu-Natal >>

Makro Store will be housed within the Cornubia Ridge Logistics Park, which is adjacent to the Gateway precinct and accessible from all major highways including the M41 and the N2.

Makro expands in Durban’s booming Cornubia

Cornubia, a multi-billion rand mixed-use development in the northern corridor of Durban, has welcomed the new state-of-the-art Makro Store scheduled to start operating this week.

Free State >>

Seen on the opening ceremony is Eric Stouder, the Senior Vice President of Sasol Base Chemicals and Izandla Property Fund CEO Nonhlanhla Mayisela.

Izandla Property Fund announces Inauguration of first development project

A new black-empowered property group, Izandla Property Fund, which is backed by Investec Property (IP) and Investec Property Fund (IPF), opens its first development project.

The recent designation of the Nkomazi Special Economic Zone (SEZ) in Mpumalanga will contribute significantly to the economic and industrial development of the Nkomazi region and the province at large.

Economy >>

In a move that may lead to lower property finance, auto and other loans, Reserve Bank Governor Lesetja Kganyago today announced the decision to cut the interest rate to 6.5%.

Reserve Bank slashes repo rate to 6.5%, bank loans may get cheaper

In a move that may lead to lower property finance, auto and other loans, the South African central bank reduced the lending rate by 25 basis points to 6.5 % per annum as of 19 July 2019.