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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

City of Joburg sets aside R103m for office building upgrades

In a budget presented by the City of Johannesburg finance manager, Geoffrey Makhubo, on Tuesday announced R103m had been set aside for the facelift and upgrading its council chambers office in Braamfontein.

Legislative hitches hinder Property Developments

Several new property developments worth more than R12 billion planned in South Africa are at risk of being scuppered due to change in bureaucratic legislation, the South African Property Owners Association (SAPOA) has warned.

Work to begin on Springs Monster Shopping Mall

Development will soon begin at Springs Eco Park on a R850 million Springs Mall, claimed to be the regional shopping centre serving the greater Springs area in Ekurhuleni east of Gauteng.

Rode report sees few pockets of decent growth in property market rentals

Despite office vacancy rates that stubbornly refuse to drop, the growth in market rentals in some of South Africa’s top office nodes are showing decent growth, the latest issue of Rode’s Report on SA Property Market has asserted.

Eskom pension sets aside R100m for Low cost housing development in SA

IN a move likely to boost the development of housing in South Africa, Eskom Pension and Provident Fund has pledged R100-million towards the development of 20 000 new low cost houses in the country.

Delta set to acquire two office buildings in a R488m deal

JSE-listed black-controlled Delta Property Fund will spend nearly half a billion rand for two office buildings in Durban: the Old Mutual Centre and The Marine from Old Mutual Life Assurance Company.

R207m new look for Randburg Square Mall

The famous Randburg Square Mall situated in Randburg CBD has undergone a complete overhaul and received much needed facelift from the owners, Vukile Property Fund‚ increasing footfall 20% in the last quarter of last year.

Billionaire real estate tycoon Sol Kerzner quits, but not retire

South African-born hotel ­magnate Sol Kerzner is not retiring, even though the 78-year-old hotel magnate has sold out of the group that made him a global powerhouse and spawned some of the world’s best-recognised hospitality brands.

Listed Property Market looks Offshore

Given the poor performance of local listed property stocks last year, South African investors have been offered opportunities to look for offshore investments.

New retail centre opens at Waterfall Business Estate

Waterfall Corner, a prime neighbourhood convenience centre in the landmark Waterfall Business Estate, Johannesburg, officially launched last week on Thursday, 10 April 2014.

Arrowhead secures eight buildings in Joburg’s Maboneng for R180m

Arrowhead Properties (AWA) said on Tuesday that it had exchanged contracts to purchase a portfolio of eight buildings in Johannesburg’s Maboneng Precinct for R180 million from Propertuity.

Demand triggers record property sales in Cape Town CBD

Cape Town’s inner city is emerging as one of South Africa’s strongest residential growth nodes‚ with the combined rand value of all central business district (CBD) property sales increasing by a whopping 72% last year.

Delta Property Fund to acquire Tembisa Mega Mart for R240m

Delta Property Fund had concluded an agreement to acquire Tembisa MegaMart, which is under construction, from Realty Dynamix 107 for R240 million in cash.

SA’s Property Sector maintains a steady growth in 2013

The South African investment property sector maintained modest growth delivering a total return of 15.3% in 2013, the IPD South Africa Annual Property Index, released on Tuesday, showed.

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