Redefine Properties Executive Chairman, Marc Wainer says acquiring this trophy portfolio (Leaf Capital properties) is a strategic triumph for the group.

Redefine Properties on a R4.1 billion acquisition trail

Redefine Properties today announced the acquisition of the Leaf Capital portfolio of properties for R4.1 billion equating to an initial income yield of 8%, substantially enhancing its office portfolio in the Western Cape.... Full story

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

Admirable year for listed property sector

The listed property sector notched good returns for investors last year, with analysts expecting another solid year from this asset class.... Full story

Old Mutual, Pareto in R10bn ownership deal for major Retail assets

Old Mutual Life Assurance Company and Pareto have entered into an asset swap transaction involving Pretoria’s Menlyn Shopping Centre and Cape Town's Cavendish Square.... Full story

Top News Headlines

Reserve Bank Governor Lesetja Kganyago made the announcement in Pretoria following a three-day MPC meeting.

Stable interest rate positive start for SA’s property sector

The Monetary Policy Committee (MPC) of the South African Reserve Bank (Sarb) on Thursday decided to retain the repo rate at 5.75%, in what could be interpreted as a positive start for the country's property market.... Full story

Listed Property / Investment >>

Consolidation has been a large theme of this year in the listed property sector with a few more mergers and acquisitions still to take place, says Ortneil Kutama, SA Commercial Property News Media Director.

SA’s listed property market Comes of Age

South Africa’s listed property sector made strides in becoming an accepted and even popular asset class in 2014, SA Commercial Prop News has learned.... Full story

Construction / Developments >>

Modderfontein new city makes its mark

Construction has begun on the new R84 billion city in Modderfontein, Gauteng, owned by Hong Kong listed Shanghai Zendai, with development of 300 residential units underway.... Full story

Leasing / Ownership /Management >>

Investec Property Fund CEO, Sam Leon says the acquisition underscores the Funds consistency in investing in long term sustainable real estate with capacity for growth while at the same time being defensive to economic headwinds.

Investec Property Fund bulks up with R871m purchase

Investec Property Fund said last week it would be buying a portfolio of 5 properties which includes two office building, two industrial properties and a retail centre, for R871 million from Investec Property ... Full story

Property Finance >>

The directors of Africrest Properties, Nicholas Katsapas and Justin Blend confimed funding deal with Futuregrowth Asset Management to be used for future property acquisitions.

Africrest Properties secures funding deal with Futuregrowth

Unlisted property group, Africrest Properties which controls a portfolio valued in excess of R500m, has secured a finance facility with Futuregrowth Asset Management.... Full story

Property Auctions >>

Midrand’s Kyalami Race track auction deal in which Porsche South Africa made the highest bid of R205m, signals the investor appetite for prime property.

Kyalami race track auction signals Investors’ appetite for prime property

Midrand’s Kyalami race track auction deal in which Porsche SA made the highest bid of R205m, is evident that the property market is moving again with deals being concluded particularly at auction events raising investor confidence.... Full story

Infrastructure / Energy >>

City Power MD, Sicelo Xulu said we welcomes the decision by National Electricity Regulator of SA (Nersa) to approve all the tariff increase applications submitted by the utility

City Power electricity tariffs to rise 7%

Johannesburg — City Power had no choice but to pass on a 7 percent tariff increase to consumers, it said on Thursday after the National Electricity Regulator of SA (Nersa) approved hikes.... Full story

Legal and Policy >>

Last week, Neil Gopal CEO of the South African Property Owners’ Association (SAPOA) made call to the Minister of Rural Development and Land Affairs, Gugile Nkwinti, to invoke his discretionary powers to expedite Spatial planning and Land Use Management

Call on Minister to invoke his discretionary powers to expedite spatial planning

Commercial property owners are appealing to the Minister of Rural Development and Land Affairs, Gugile Nkwinti, to invoke his discretionary powers to expedite Spatial Planning and Land Use Management Act, 2013 (SPLUMA) to prevent damaging logjams in the property development sector.... Full story

Office Property >>

Nedbank Capital has acted as the mandated lead arranger and funder of the R1,4 billion new head office accommodation project for Statistics South Africa (Stats SA), says Mike Peo, Head of Infrastructure at Nedbank Capital.

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

Retail Property >>

Shoppers waiting outside Maponya Mall in Soweto, where an attempted armed robbery took place inside Pick n Pay on 17 December 2014. Picture: Masego Rahlaga/EWN.

Spate of Armed Robbery puts Shopping Malls on guard

A recent spate of shopping centre heists in South Africa ahead of the festive season has prompted fears that organised criminals are turning their attention to these soft targets.... Full story

Industrial Property >>

Commercial property companies are shifting to clean industrial properties focussed on light manufacturing, warehousing and distribution as harder manufacturing struggles.

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

Leisure and Hospitality >>

Joop Demes, CEO of Pam Golding Hospitality, said for the last two years, South Africa's hotel sector has enjoyed double-digit growth in Revenue per Available Room (RevPAR), as tourists flock to the increasingly popular holiday destination.

Cape Town in line for new Hotel Investment

With a growing number of foreign tourists visiting, Cape Town has emerged as the most popular city in Southern Africa for new hotel investment despite the oversupply that depressed the industry since 2010 World Cup.... Full story

Housing / Residential >>

Nedbank Corporate Property Finance Managing Executive, Robin Lockhart-Ross says given this clear shift towards the residential buy-to-let market, SA can expect to see a focused residential fund established over the next 12 to 24 months.

Residential appetite clearly growing

Commercial property players appetite for residential rental market is clearly growing, currently buoyed by many large property investors purchasing distressed buy-to-let portfolios from banks.... Full story

Gauteng >>

Premier David Makhura is signalling confidence in the province by putting out a plan which aims to establish three new cities.

Gauteng to build three new Cities

Gauteng government is signalling its confidence in the province by putting out an ambitious plan which aims to establish three new cities.... Full story

Western Cape >>

The City of Cape Town is considering offering a leasing property deal of its Granary building to the Desmond & Leah Tutu Legacy Foundation.

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 >>

Two workers, Zakhithi Nxumalo and Zwelibanzi Masuku, died when a concrete slab collapsed on November 19 last year, and 29 others were injured.

Tongaat Mall inquiry’s key witness in hospital

Controversial businessman Jay Singh checked himself into hospital this week. His hospital stint — described as a “routine check-up” — came the day after the first anniversary of the Tongaat Mall collapse. ... Full story

Africa Property News >>

Tanzania's President Jakaya Kikwete and Chinese President Xi Jinping shake hands during a signing ceremony in Beijing on October 24, 2014. By Takaki Yajima (Pool/AFP/File)

Tanzania to start major port construction in 2015

Tanzania will launch construction of a major Chinese-funded sea port in 2015 to boost the trading capacity of the east African nation, a presidential statement read.... Full story

International Property News >>

Redefine BDL CEO, Helder Pereira, said his group had just finalised a contract to manage the new portfolio of 22 hotels on behalf of LRG Acquisition.

Redefine BDL banks on batch of new hotel assets

JSE-listed Redefine International’s hotel arm, the Redefine BDL Hotel Group, plans to have 100 hotels in its management portfolio in two years’ time, strengthening its position as the largest hotel manager in the UK. ... Full story

Property Market >>

The South African investment property sector delivered an improved 7.4% total return for the six months in 2014, according to IPD South Africa Executive Director, Stan Garrun.

SA Property Sector pulls off Returns of 7.4% in H1 2014

Despite subdued economic growth, South African property sector maintained modest growth delivering a total return of 7.4% for the first six months in 2014, the IPD South Africa Biannual Property Indicator released on Friday showed.... Full story

Economy >>

Rand strengthened against major currencies on Monday after the appointment of Lesetja Kganyago to the position of South African Reserve Bank Governor.

Rand stages recovery after Lesetja Kganyago appointed new SARB Governor

The appointment of Lesetja Kganyago as the new Reserve Bank governor added a positive tone to the market, with the rand staging recovery at midday on Monday as the rally in the dollar eased.... Full story

Company News >>

Seen on Acsion Limited JSE listing: Kiriakos Anastasiadis CEO and Founder of Acsion Limited celebrating with entertainers after blowing the ceremonial kudu horn to mark the company’s listing.

Acsion Limited picks up all the right signals from investors

Property developer Acsion Limited (ACS) enjoyed a sparkling debut on the Johannesburg Stock Exchange on Tuesday, with shares opening at R10.80, giving it a market cap of R4.2 billion.... Full story