Nedbank Corporate Property Finance regional executive, Ken Reynolds echoes some thoughts on the latest proposed contentious land bill to block foreigners from buying land in South Africa.

Nedbank’s view on proposed bill to block land sales to foreigners

The Government's plan to fast-track a bill barring foreigners from buying land in South Africa, raised commercial property investors and financiers eyebrows — as they are taking it on the chin at the half way mark.... Full story

Discovery raises eyebrows with R2.5bn sustainable global Head Office

SA’s private medical aid scheme and life assurance group, Discovery is progressing on its new environmentally-sustainable global headquarters office development in Sandton at a cost more than R2.5 billion.... Full story

London’s famous Gherkin skyscraper on sale for R11.7bn

London's landmark "Gherkin" office tower, one of the landmarks on the British capital's skyline, went on sale for about R11.7bn (£650m, $1.1 billion, 820m euros) on Tuesday after being placed into receivership.... Full story

Property Industry speaks up on closure of foreign land ownership bill

The South African government has announced plans to introduce a contentious bill barring foreigners from buying land — a move that may spook foreign investors in the country.... Full story

Listed Property / Investment >>

Former ArcelorMittal chief financial officer Kobus Verster has been doubling as Aveng’s CEO and chief financial officer since Roger Jardine resigned as CEO in August last year.

Aveng completes R2bn bond placement

The listed construction and engineering firm Aveng placed R2 billion worth of convertible bonds last week‚ maturing in 2019‚ with institutional investors at a coupon rate of 7.25%.... Full story

Construction / Developments >>

SA Construction Industry faces its challenges

New forecasts from the JSE’s construction and materials index suggest that the South African construction sector is struggling mainly due to muted economic growth and slowdown in the government’s multi trillion-rand infrastructure plan.... Full story

Leasing / Ownership /Management >>

The reclamation of the farm, which took almost 20 years, formed part of Operation Bring Back, which Public Works Minister Thulas Nxesi said was intended to recover land and properties stolen from the state before 1994.

Government reclaims Vlakplaas

The state has reclaimed the notorious Vlakplaas from a right-wing religious fundamentalist, who claimed he was a "squatter" and could not be evicted, according to a report.... Full story

Property Finance >>

Nedbank Capital and the Bank of China Johannesburg injected R1.1bn towards debt capital to fund Mamba Cement entrance to South Africa, Head of Infrastructure at Nedbank Capital, Mike Peo said.

New Cement maker enters the race for South African Market

Mamba Cement has entered the race for South African cement producing, after Nedbank Capital and the Bank of China Johannesburg provided R1.1 billion towards debt capital to fund the new China player into the market.... 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 >>

Rates and Taxes a burning issue for South African Property Owners

THE yearly rates, taxes and services increases in South African municipalities were seen as inflationary and contradict the aims of building the economy of the cities and creating jobs, a panel discussion at the SAPOA Convention said on Thursday.... Full story

Office Property >>

Hopes for Office Sector revival as vacancies hit nine-year high

The corner for South Africa's office market still seems some way away from turning into positive territory, with vacancies in major centres continuing to run at fairly high levels.... Full story

Retail Property >>

An evening artist’s impression of what the new entrance of East Rand Galleria in Boksburg will look like after it undergoes a R411 million upgrade and is to be renamed East Point.

East Rand Galleria is set for major image shake-up

SA Corporate Real Estate Fund, the owners of East Rand Galleria in Boksburg, said will spent R411 million in an attempt to revitalise the shopping centre which connects to East Rand Mall in the east side of Gauteng.... Full story

Industrial Property >>

Artist perspective of Tangawizi Motors at John Ross Eco Junction. The facility will accommodate four motor dealership brands namely Hyundai, Daihatsu, Renault and Honda.

John Ross Eco Junction grows apace with first new development

John Ross Eco Junction, a commercial industrial development grows apace with first new facility for Tangawizi Motors to accommodate four motor dealership brands namely Hyundai, Daihatsu, Renault and Honda.... Full story

Leisure and Hospitality >>

The R850m East CTICC expansion will almost double the convention centre’s size, which will attract more international conferences and prestigious events to Cape Town

Cape Town Convention launches R850m expansion plans

The Cape Town International Convention Centre (CTICC) is set to start a new phase of development with the announcements of construction work on CTICC East, which begins this month with doors due to open to the public early in 2017.... Full story

Housing / Residential >>

FNB property analyst John Loos says the question remains, though, as to what extent this multiyear rand weakening has stimulated the rate of foreigner buying of domestic residential properties

Foreign Property Buyers enter the fray

Foreign investment into South African property appears to be continuing unabated, with the bulk of these transactions coming from Cape Town as the highest followed by Johannesburg.... Full story

Gauteng >>

Give us back our Pretoria Land — Tshwane Descendants

Pretoria is embroiled in massive land-claim dispute with descendants of Ndebele King Tshwane, whom have claimed ownership of the entire city centre.... Full story

Western Cape >>

Build low-cost housing instead of land sale — Cosatu

Trade union federation Cosatu has demanded that the City of Cape Town release the findings of an audit of the land it owns and wants it used for low-cost housing instead of being sold to property developers.... Full story

KwaZulu-Natal >>

R22bn Go Durban project forges ahead despite complaints

The construction of the first phase of the multibillion-rand integrated rapid public transport network system, known as Go Durban, is set to continue despite complaints from some businesses and landowners... Full story

Limpopo >>

Limpopo Premier aims to grow the provincial economy by 5%

Delivering his State of the Province Address at the Lebowa-Kgomo Legislature on Thursday, Limpopo Premier, Stanley Mathabatha has set a target to grow the provincial economy by 5% by 2019.... Full story

Africa Property News >>

Botswana's property investment for commercial and residential sectors produced a total return of 21.4% last year. FIle Photo: Panoramic views of Gaborone Skyline.

Botswana Property Market still worthwhile for Investment

Gaborone — Botswana's directly held investment property for commercial and residential sectors produced a total return of 21.4% last year, which is an improvement from 18.1% recorded for 2012, a study has revealed.... Full story

International Property News >>

Four out of ten largest European shopping malls are located in Moscow. Mega Belaya Dacha (214,000 m²), built in 2006, is the current leader.

Top 10 largest existing European shopping centers

CBRE ranked the largest European shopping malls by their gross leasable areas (GLA). Four out of ten largest European shopping malls are located in Moscow. Mega Belaya Dacha (214,000 m²), built in 2006, is the current leader.... Full story

Property Market >>

Nedbank Corporate Property Finance regional executive in Gauteng, Ken Reynolds echoes that South Africa's Retail property sector has continued to hold an upbeat view on its performance.

Retail Property maintains momentum despite subdued economic growth

When the going gets tough – the tough go shopping! This often used levity expression currently has a ring of truth to it as far as South Africa’s retail property market is concerned.... Full story

Economy >>

The MPC has decided to continue on its gradual normalisation path and raise the repo rate by 25 basis points to 5.75% per annum, said Governor Gill Marcus.

Reserve Bank hikes Repo Rate to 5.75%

South African Reserve Bank (SARB) governor Gill Marcus decided to raise the repo rate by 25 basis points, taking it to 5.75%, following a three-day meeting with the Monetary Policy Committee (MPC).... Full story

Company News >>

Aveng readies R2bn convertible bonds

South Africa’s largest construction and engineering group Aveng (AEG) last week Wednesday reported the launch of its convertible bond offering with a base of R1.5bn and an upsize option of R500m.... Full story

Andrew Konig, Redefine Properties financial director, has been promoted to the position of CEO, succeeding veteran property dealmaker Marc Wainer.

New CEO for Redefine Properties, Marc Wainer takes up Chairmanship

South Africa's second largest REIT, Redefine Properties today announced a major shakeup to its board of directors and executive management. ... Full story