Construction Industry in South Africa

Construction Sector being demolished as Group Five succumbs to depressed market

The decision taken by Group Five, one of SA’s construction giant which built the Moses Mabhida stadium, to file for bankruptcy protection, has come as a shock to the nation as the sector may be collapsing.

Group Five shares gain on results update

JSE-listed construction and engineering firm, Group Five, on Monday posted a 40.7% rise in headline earnings per share (HEPS) to 204c for the six months ended December 2013 from 145c a year earlier.

Tongaat Mall tragedy reveals shoddy Construction practices

In the case of the unfinished Tongaat Mall disaster, the South African building industry must weed out dodgy contractors and take strict action against shoddy property development practices.

Public Investment Corporation (PIC) decries building collusion

Public Investment Corporation (PIC), says construction firms recently fined R1.46-billion for colluding to fix tenders for soccer stadiums, roads and other major projects, should claw back bonuses from the crooked executives who fixed the projects.

Numsa calls for probe on Medupi power station construction

THE National Union of Metalworkers of South Africa (Numsa) on Thursday called for an independent investigation into alleged collusion by construction companies at the Medupi power station in Limpopo.

Group Five out on a limb

Government is satisfied that it has broken the back of a longstanding cartel in the construction industry. It is the first time the competition commission has targeted an entire sector, and the settlement amount — R1,46bn — is the largest it has ever administered.

Group Five records revenue growth for the six months to December 2012

JSE-listed construction company, Group Five (GRF), today announced improved financial results for the six months to December 2012, group revenue increased by 15.9% from R4,4 billion to R5,1 billion.

Group Five sees headline earnings lower than a year earlier

JSE-listed construction company, Group Five has posted headline earnings per share of R1.80 were 64.4% lower than a year earlier but expects earnings to improve within the next year.

Dihlabeng Regional Shopping Centre in Bethlehem construction under-way

Investec Property, Tintswalo Property Group and RPP Consortium continue construction on Dihlabeng, the new retail regional centre in Bethlehem

Boitekong Mall shopping centre launched

Fontis Development introduces a R180 million shopping destination of choice with the much anticipated development of Boitekong Mall North West Province; a dynamic, vibrant and unique Community Shopping Centre currently in the final stages of completion.

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