Investec Property Fund snaps up Zenprop portfolio for R7.1bn

Investec Property Fund has bought 26 properties from unlisted developer, Zenprop for R7.1 billion, in which it says the acquisition will double the size of the Fund’s existing portfolio to R16.4bn, the company said on Tuesday.... Full story

No rush for African REITs

It could take years before there are Real Estate Investment Trusts (REITs) in African countries other than South Africa.... Full story

Listed Property / Investing >>

Going abroad worries analysts

Analysts are wary, saying South African property funds may be overly ambitious investing in regions they do not have great knowledge of.... Full story

Construction / Developments >>

Construction sector hits hard times

Energy projects and road infrastructure upgrades may offer some relief for South Africa’s beleaguered listed construction companies, but investors without a suitably long time horizon should probably think better of being seduced by the siren of attractive multiples. ... 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

Leisure and Hospitality >>

Hotels are empty, jobs are on the line

South Africa’s onerous new visa regulations have wreaked havoc on the tourism industry, ending an extended period of buoyant growth that had generated jobs and spurred the sluggish economy, according to a slew of reports and observations from top executives in the sector.... Full story

Housing / Residential >>

Agents unhappy with Rate hike

Estate Agents have expressed their disappointment at the decision by Reserve Bank's Monetary Policy Committee to raise interest rates by 25-basis points to 6%.... Full story

Gauteng >>

Tshwane ignored advice against smart meter project

The Tshwane metro's electricity smart meter fiasco is refusing to die down‚ with new information revealed showing the metro was warned against the contract by former finance minister Pravin Gordhan.... 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 >>

Milestone land claims settlement signed in KZN

A significant milestone has been reached in the settlement of the land claims lodged by the Mkhuzane and the Nodunga communities on properties previously owned by Mondi (Pty) Ltd.... Full story

Eastern Cape >>

Maimane pledges for better housing in Grahamstown

DA leader Mmusi Maimane vows to fight in parliament for better housing for Grahamstown township residents whose houses are flattened by a tornado.... Full story

Africa Property News >>

Kenya’s Two Rivers Mall nears completion

Construction of Two Rivers Mall in Nairobi will be completed by October this year with the development reportedly set to be the largest shopping mall in East Africa.... Full story

International Property News >>

Acquisitions boost Stenprop

Stenprop, the Bermuda Stock Exchange-listed property company with a recent secondary listing on the JSE’s AltX, on Thursday posted strong annual financial results, thanks to the "transformational" acquisition of Stenham's property portfolio.... Full story

Property Market >>

SA’s reputation not affecting Property Sector

South Africa’s listed property industry and real estate housing sector are under threat from a weakening economy and diminishing reputation, SA Commercial Prop News has leant.... Full story

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