Auction ‘ghost bidding’ common practice in SA's Property Industry

Ivor Ichikowitz the chairman of arms manufacturer, the Paramount Group, has lost a battle against The High Street Auction Co, which he accused of faking bids to inflate the price of a property he was buying.... Full story

PPC declined AfriSam’s merger proposal

PPC said on Friday that it had declined AfriSam’s merger proposal as the two companies could not reach a consensus on the terms of a merger.... Full story

Construction / Developments >>

The health of the company has been restored, AfriSam says

AfriSam CEO Stephan Olivier says 'the health of the company has been restored' since the cement firm’s balance sheet and shareholder registry were overhauled after a costly empowerment deal in 2007.... Full story

Legal and Policy >>

SA Property Owners upset with ban of Foreign Land Ownership in SA

Last week's announcement by President Jacob Zuma during his State of the Nation Address (SONA), regarding proposal to restrict foreign nationals from owning land, has disappointed the South African Property Owners Association (SAPOA).... Full story

Office Property >>

Nedbank Capital backs Stats SA's new Head Office Project

Statistics South Africa (Stats SA) has boosted its financial resources for development of the R1,4 billion new head office accommodation project through a R1,15 billion loan from Nedbank Capital.... Full story

Industrial Property >>

Industrial Property has to be nimble

Property groups are shifting to clean industrial properties focussed on light manufacturing, warehousing and distribution as harder manufacturing struggles, SA Commercial Prop News has learnt.... Full story

Gauteng >>

R65m to rehabilitate the notorious Johannesburg’s Bruma Lake

The first phase of the City of Johannesburg’s R65-million project to rehabilitate Bruma Lake, east of Johannesburg, into a recreational park will finish later this month. ... Full story

Western Cape >>

Cape Town grants Tutu’s body a leasing property deal

The City of Cape Town is considering offering a leasing property deal for the Desmond & Leah Tutu Legacy Foundation with the hope that it will help rejuvenate the grimy inner city centre. ... Full story

KwaZulu-Natal >>

KZN gets biggest share in SA's 2015 Budget

The KwaZulu-Natal province will receive the largest share of the budget of all the provinces in terms of equitable share, according to Finance Minister Nhlanhla Nene's 2015/16 budget tabled in the National Assembly on Wednesday.... Full story

Eastern Cape >>

Coega unveils plans for Cargo Airport construction

The Eastern Cape’s Coega Industrial Development Zone (IDZ) could soon become a multi-platform international transportation hub with plans for a cargo airport under way.... Full story

Property Market >>

Returns on property in South Africa declined in 2014

According to IPD South Africa Annual Property Index report, the South African investment property sector delivered an ungeared total return of 12.9% in 2014 down from 15.9% in 2013 reflecting the fragile state of the economy.... Full story

Company News >>

Redefine tries another attempt for Fountainhead assets

Redefine Properties on Friday said it had started an attempt to acquire Fountainhead’s retail-dominated portfolio valued at over R12 billion. This comes after it received support from Fountainhead unitholders.... Full story

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