Construction of office property has exploded in Sandton CBD, north of Johannesburg, with developers still confident about demand despite saturation concerns.

Realty boom continues in Sandton despite bubble fears

Though growth is slowing down in the office property sector across South Africa, the real estate scene in Sandton CBD and surrounding areas presents a study in contrast.... Full story

Doing business in Nigeria too challenging for Woolworths

South African retailer Woolworths Holdings Ltd. (WHL) has canned its three-store pilot project in Nigeria as high rental costs, duties and complex supply chain processes make trading in the West African country "highly challenging".... Full story

Accelerate Property Fund lists on JSE main board

Retail-focused property group‚ Accelerate Property Fund listed today on the main board of the Johannesburg Stock Exchange (JSE), in the Real Estate Holdings and Development sector.... Full story

Retail trade outlook not so merry this festive season

The 2013 festive season is likely to be a mixed bag for South African retailers as rising fuel, transport and utility costs continue to see consumers apply the brakes on spending.... Full story

Property Investment >>

Better interest rates could spur growth in SA's Listed Property Sector

Raising interest rates would place downward pressure on listed property share prices but more economic growth may allow the opportunity for better business.... Full story

Construction / Developments >>

JSE-listed sugar and property giant, Tongaat Hulett will release 42 of the remaining 62 hectares of Ridgeside, its iconic development on Umhlanga Ridge, to the market as a single transaction in the first quarter of 2014.

Prime land in Durban's Umhlanga Ridge ready for Commercial Development

JSE-listed sugar and property giant, Tongaat Hulett on Wednesday said that it will release 42 of the remaining 62 hectares of Ridgeside, its iconic development on Umhlanga Ridge, to the market as a single transaction in the first quarter of 2014. ... Full story

Green Building / Environmental >>

Brian Wilkinson, CEO of the GBCSA says that it is testament to the success of the project that it has been recognised and awarded by Eskom’s eta Awards.

GBCSA honoured Eskom’s eta Awards for Green Street initiative

The Green Building Council of South Africa was honoured in the Community Category of this year’s Eskom eta Awards for their Green Street initiative in Cato Manor, Durban – as announced at the award ceremony which took place on 4 December 2013. ... Full story

Leasing and Ownership >>

Vunani to acquire R102.5m prime office property in Parktown

Vunani Property Investment Fund (VPF) today said that it has entered into an agreement to acquire the rental enterprise Wellington Road‚ located at 30-32 Wellington Road‚ Parktown‚ Johannesburg‚ for R102.5m cash.... Full story

Property Finance >>

RMB secures R1.8bn funding deal towards property development in Lagos

Rand Merchant Bank (RMB), together with another funder have commited R1.8 billion (approx. $182-million) loan facility to finance a commercial office development, the Wings Oando in Lagos, Nigeria. ... Full story

Infrastructure / Urban Planning >>

Department of Energy (DoE) Director-General Nelisiwe Magubane said that the regulations are in terms of section 12L of the Income Tax Act, 1962, which has been amended and came into operation last month.

Energy Department introduces new incentives for Companies to save electricity

South Africa's Department of Energy (DoE) on Wednesday announced the promulgation of Regulations on the Allowance for Energy Efficiency Savings, which will provide tax incentives for energy efficiency improvements made by companies.... Full story

Legal and Policy >>

SAPOA President, Estienne de Klerk (Right) to challenge Municipal Authorities represented by Cooperative Governance and Traditional Affairs Minister Lechesa Tsenoli (Left) on the hiked property rates and taxes levied in July this year.

Higher Municipal rates deter SA’s Commercial Property upturn

The continued rise of municipal rates and taxes in the South African Commercial Property sector is worrying property service companies, as it is exerting strain on business and the economy.... Full story

Technology in Property >>

A new study shows that, once again, South Africans are latching onto a technological advancement quicker and social media playing vital role to retailers and consumers.

Bringing Social Media into the Retail environment

A new study by SA Council of Shopping Centres (SACSC) shows that, once again, South Africans are latching onto a technological advancement quicker and social media playing vital role to retailers and consumers.... Full story

Office Property >>

Flexible Workspace last month opened its new serviced offices centre at The Pivot, Montecasino in Fourways, Gauteng.

Flexible Workspace opens Fourways Montecasino Serviced Offices

Flexible Workspace, a company specialising in virtual offices, serviced offices and facility hire at various locations throughout the country, last month launched its new centre at The Pivot, Montecasino in Fourways, Gauteng. ... Full story

Retail Property >>

On September 21, four masked men (Somali militant group known as Al-Shabaab) attacked the upscale Westgate shopping mall in Nairobi using grenades and assault rifles. At least 67 people were killed in the four-day siege.

Shopper safety important in time for holiday crowds

Following the terrorist attack on Westgate Shopping Mall in Nairobi, Kenya, major shopping malls and stores in South Africa are now gearing up for increased safety precautions ahead of the festive season.... Full story

Industrial Property >>

Cape Town Industrial Property Market showing signs of improvement

Take up of commercial Industrial space and other emerging positive trends point to a better year for Cape Town Industrial Property Market.... Full story

Leisure and Hospitality >>

New hotel in Sandton on course for completion by 2014

177 Empire Place, the first hotel to be built in Sandton in the last four years, will be fully operational by the first quarter of 2014.... Full story

Gauteng >>

City of Tshwane launches relief efforts to help Storm victims

Relief efforts are being mobilized by the City of Tshwane to help victims of the severe storms that struck households in Mamelodi and Soshanguve, one of the most powerful storms to ever batter the Gauteng.... Full story

Western Cape >>

Cape Town’s Victoria & Alfred (V&A) Waterfront expansion and refurbishment pays off for Growthpoint Properties and Public Investment Corporation (PIC), as the precinct has become the most visited landmark in SA, attracting 23m visitors a year.

Cape Town’s V&A Waterfront expansion pays off

Public Investment Corporation (PIC) and Growthpoint Properties are reaping the rewards of expanding and refurbishing Cape Town’s Victoria & Alfred (V&A) Waterfront, as the precinct has become the most visited landmark in South Africa, attracting 23 million visitors a year.... Full story

KwaZulu-Natal >>

Pietermaritzburg Airport gets R18 million facelift

The Pietermaritzburg Airport is set for a R18 million facelift at its terminal building and apron, KwaZulu-Natal Finance MEC Ina Cronjé said on Tuesday.... Full story

Africa Property News >>

The past two years have seen a sharp rise in interest in commercial real estate opportunities in Sub-Saharan African cities, according to a new research report by Jones Lang LaSalle.

Commercial Real Estate set to benefit as African urbanisation accelerates

As the world's most rapidly urbanising continent, the Sub-Saharan African commercial real estate market is primed for a "once in a lifetime" positive growth opportunity, supported by expanding middle classes, new infrastructure investment and deepening corporate footprints.... Full story

International Property News >>

Westfield Group chairman Frank Lowy said the company's international and local businesses had both grown in scale and quality to the stage where they could now stand on their own.

Australian shopping giant Westfield reveals shock split

Australian shopping centre giant Westfield Group on Tuesday unveiled a dramatic split of its international and local operations that will see it reshape its $65.8 billion global property empire.... Full story

Property Market >>

Long road to recovery for SA Property Market

The weak performance on South Africa's property market continues as high prices, debt and tighter credit standards continue to deter buyers, according to the latest Rode's Report on SA Property Market.... Full story

Economy >>

South Africa Q3 GDP slows

South Africa’s real Gross Domestic Product (GDP) increased by 0.7% in the third quarter of 2013 compared to a revised 3.2% growth in the second quarter, said Statistics South Africa (Stats SA).... Full story

Company News >>

Accelerate Property Fund nonexecutive chairman Tito Mboweni says we are excited by the listing on the JSE and have been extremely encouraged by the interest and support shown by investors.

Investor support for capital raise ‘bodes well for Accelerate’

Amid a volatile and difficult period in the listed property market, Accelerate Property Fund received good investor support for its capital raise prior to the fund’s listing on the JSE next Thursday.... Full story

Uncertain outlook for SA Cement Industry

South African cement sales will disappoint next year, says multinational Lafarge, taking the opposite view to research group Frost and Sullivan, which suggests cement demand will boom in subSaharan Africa as infrastructure demand picks up. ... Full story