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City Lodge issues profit warning

Hotels group City Lodge which owns brands such as Courtyard, City Lodge, Town Lodge, and Road Lodge, could be 50% lower than that of a year earlier due to accounting changes and weak business confidence ... Full story

R500 million Vukile unsecured bond oversubscribed

Vukile Property Fund, on Tuesday, announced that its R500 million senior unsecured corporate bonds with three and five-year maturities were both substantially oversubscribed.

Investec Property Fund clinches R3bn deal in pan-European logistics platform

Investec Property Fund (IPF) said on Tuesday that it is finalizing agreements to increase its interest in the “pan-European logistics platform” (PEL) from funds managed by the real estate group of Ares Management Corporation.

Massmart forecasts up to R1.4bn loss for the year

Massmart, which owns brands such as Dion-Wired, Makro and Game Stores, is forecasting another big loss of over R1.2 billion as it battled tough trading conditions in the second half.

Pareto takes 25% stake in Atterbury Europe

The Pareto Group, a sister company to Pareto Limited which owns Durban's Pavilion Shopping Centre, said on Monday it had concluded a deal to acquire a 25% stake in Atterbury Europe Holding B.V.

Investec Property Fund to dispose of stakes in Musina and Boitekong Malls

Investec Property Fund [JSE: IPF] has approved plans to sell its shareholding in Musina Mall, Limpopo and Boitekong Mall, Rustenburg, for R727 million.

Foschini Group builds on bumper 2019

Retailer The Foschini Group [JSE:TFG], whose brands include Foschini, American Swiss, and Markham occupying space in major centres, went against the prevailing retail trend by producing positive trading updates in a difficult economy.

Truworths sales up 1.2% despite tough retail market

Retail tenant Truworths said on Wednesday sales for the 26 weeks to December grew by a mere 1.2% to R10.6 billion as it faced tough conditions in both Africa and UK markets.

Empty Retail space takes a toll as Massmart plans to close 34 DionWired and Masscash

Retailer Massmart, which is 51% owned by US giant Walmart, has announced plans of closing 23 Dion-Wired stores and 11 Masscash wholesale outlets, a move that lead to the loss of up to 1,440 jobs.

Edgars Store vacates from upmarket Rosebank Mall

Struggling clothing retailer Edcon Holdings, which owns Edgars Stores has decided to shut its doors at the trendy Rosebank Mall — owned by JSE-listed Hyprop Investments.

Vukile Property Fund lifts its dividend by 3.5%

Vukile Property Fund, SA’s eighth-largest real estate investment trust, increased its dividend for its half-year to September 2019 by 3.5 percent to 80.84c per share, in line with its market guidance.

Meet Eris Property Group's new chief exec - Barend de Loor

Serving as director of numerous property companies in Africa, the newly appointed CEO of Eris Property Group, Barend de Loor succeeds the long-standing CEO of 15 years, Warren Schultze.

It has not been an easy road, says Growthpoint Properties

As domestic tenants continue to downsize space, its sheer size and diversity on three continents have helped Growthpoint Properties lift the distributable income of 5.3% to R6.4bn for the year ended June.

Deal maker and Founder Marc Wainer retires from Redefine Properties

Redefine Properties today announced that its legendary founder and pioneering property investor and developer Marc Wainer retires from the company at the end of August 2019.

Gemgrow, Arrowhead shareholders approve R16 billion merger

Shareholders of Gemgrow Properties and Arrowhead Properties have approved the R16 billion merger of the two JSE-listed real estate investment trusts (Reits).

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