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Standard Bank cuts Office Space, camps inside Pick n Pay stores

In a move to save costs and access a wider range of clients, Africa’s largest banking group, Standard Bank recently announced that it plans to cut office space by opening up mini branches in Pick n Pay stores. ... Full story

Shoprite acquires Cambridge Food, Rhino and Massfresh from Massmart in R1.3bn deal

Walmart-owned Massmart says it has disposed of some of its stores namely, Cambridge Food, Rhino, and Massfresh to Shoprite for a total consideration of R1.360 billion.

Eskom to dispose property assets, aims to get R2bn

Financially-constrained Eskom is looking to sell more properties, saying the proceeds will be used to raise the company’s capital.

Worrying moments ahead for Mall Owners as Ster-Kinekor goes into business rescue

There is still no respite for Mall Landlords as one of SA’s large cinema chains, Ster-Kinekor which occupies big pockets of space in many shopping centres, went into business rescue.

Despite pandemic turmoil, Resilient Reit dishes out dividends

Resilient Reit, which has one of the strongest balance sheets in the listed property sector, posted commendable results for the six months to December 31, 2020, despite weak consumer sentiment.

Attacq’s earnings take a 57.5% dive

Attacq Limited, the developer of Waterfall City precinct in Gauteng and owner of Mall of Africa, has reported a 57.5%% drop in headline earnings for a tough six-month period to December 2020.

Fortress REIT puts its faith in the Polish logistics sector

Fortress REIT recently announced that it had bought its first offshore properties in Poland for R700 million — an indication that its management is confident about the prospects of the European logistics market.

Growthpoint Properties fares well in tough half-year, expects more vacancies

Investors in SA’s largest listed real estate investment trust (Reit), Growthpoint Properties (JSE: GRT) are having to cope with a case of steady or balanced earnings growth — as the effects of COVID-19 are still being felt in the commercial property sector.

Redefine well positioned for upward cycle

JSE-listed REIT, Redefine Properties, says its balance sheet is in a stronger position than it was before the COVID-19 pandemic struck and that it should be well-positioned to take advantage of opportunities by the end of the financial year in August.

Marc Wainer the founder of Redefine Properties is no more

Veteran property deal-maker and founder of the JSE-listed Redefine Properties (JSE: RDF), Marc Wainer has died.

Edgars store owner running out of steam

Edcon, which had already been under a financial strain, revealed that the coronavirus has had a negative impact on the company and it would lose close to a billion rand during the 21-day lockdown period.

The Foschini Group to skip Rental Payments amid SA lockdown

As South Africa goes into a 21-day nation-wide lockdown, The Foschini Group [JSE: TFG] – whose brands include Foschini Stores, @home, Markham, Totalsports and Sterns – said it’s stopping rental payments because of the impact of the coronavirus outbreak.

Sun City Founder and Real Estate tycoon Sol Kerzner dies

Renowned international hotel developer and South African-born real estate magnate Sol Kerzner, who founded the Southern Sun Hotel Group and Sun International, has died.

End of the road for Massmart’s Dion Wired stores

Although yet to recover from Edcon’s woes, Retail landlords are set to face even more intense pressure as Walmart-owned Massmart announced the closure of 23 DionWired stores as from today.

Domino’s Pizza comes to a grinding halt

Taste Holdings [JSE:TAS], former owner of Starbucks, announced that it will voluntarily liquidate Domino's Pizza, following its failure to find a buyer for the pizza chain.

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