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Property News

Mall of Africa owner Attacq cuts its dividend forecast due to weak economy

CEO Melt Hamman points to SA’s weak economy as the reason for slow disposals and development of some of its projects Mall of Africa owner Attacq may have experienced better-than-expected trading numbers for the year to June but it has had to slash its dividend growth forecast for the next two y

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Rosebank’s Park Central construction now halfway to completion

With the 20 storey structure topped out and fit-out making good progress at Park Central in Rosebank Johannesburg and the remaining floors currently under construction, time is running out to secure a unique investment in what is set to be Rosebank’s tallest building. The development, which com

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Spatial development model prioritises the human element

It’s not always easy to see policy in action. But the Bridge City mixed-use development north of Durban offers key insights into how government’s vision with the support of the private sector is being transformed into reality to positively impact citizens’ lives. This precinct-based develop

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Lifestyle and investment potential Waterfront buyers

Those looking to buy a property by the water are not just investing in a home, they are investing in a lifestyle: from the views, wildlife and relaxing environment waterfront living provides to the potential for water pursuits. This is according to Linda Erasmus, CEO of Fine & Country Sub-Saharan Af

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LibertyTwo Degrees and Liberty Group imvesting over R12 million into PV Plant for Pietermaritzburg asset

Liberty Two Degrees and Liberty Group investing over R12 million into PV Plant for Pietermaritzburg asset Pushing the boundaries of what is possible for alternative energy, Liberty Two Degrees (“L2D”), in partnership with Liberty Group Limited, have announced their first solar photovoltaic (P

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Cape’s top schools and universities a boost for buyers from across the world

The success of the Cape Town property market is built on a number of pillars such as good governance, the fabulous location, tourism and attractions and the excellent schools and universities. Western Cape and Cape Town schools in particular frequently rank among the best performing when it comes to

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Workable Solution for inclusionary housing in Johannesburg

Johannesburg, 3 August 2018: Yesterday a public hearing between developers, property practitioners and representatives of the City of Johannesburg Metro Centre was held to discuss the way forward for inclusionary housing. The hearing was attended by Councillor Reuben Masango, MMC Development Plannin

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Furnished flats in demand by high-end investors

Pre-furnished apartments in high-end developments across the country are on the radar of local and international investors. Leading South African property developer, the Amdec Group, has found that residential properties within their major developments ‒ Melrose Arch in Johannesburg, The Yacht

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Property investment stands the test of time

There’s a myriad of options when it comes to investing our money, but property has remained an interesting option that has stood the test of time. There may also be more than a few Bitcoin investors who are privately wishing that they had put down a deposit on property instead. So says Garet

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Subdivision and land use laws hinder land reform and are unconstitutional

Research conducted by the Rule of Law Project has found that two Acts of Parliament dealing with land use are unconstitutional and are proving to be barriers to effective land reform. The Subdivision of Agricultural Land Act, 1970, is a remnant of exclusionary Apartheid law, and prohibits the subdiv

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Residential property sellers compete for limited pool in a buyer’s market

South Africa has definitely moved from a ‘glass half empty to more of a glass half full scenario’, but in terms of the residential market and property prices, the level of liquidity has remained the same. That’s the word from real estate agency boss, Herschel Jawitz, CEO of Jawitz Propertie

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Don’t fall into the double commission trap

Bringing in as many agents as possible might seem like a good idea to a homeowner who is eager to sell a property as quickly as possible, but it may put him in danger of paying more than one commission, warns Chris Tyson, Managing Director of Tyson Properties. Known in the property business as

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Luxury apartment prices contract in Cape Town and Sandton Central, but up in Umhlanga

Prime apartment prices in Cape Town’s iconic Atlantic Seaboard and SA’s financial hub of Sandton Central in Johannesburg have dropped in the first quarter of 2018, while prices in Umhlanga’s Lagoon Drive, Durban, have increased. This is according to research, published yesterday, by Johanne

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Growthpoint’s pioneering healthcare property fund aims for R10bn portfolio

Growthpoint Properties – one of Africa’s largest listed property companies – has achieved another first in the SA property sector by launching an unlisted healthcare real estate investment trust (REIT). The JSE-listed SA REIT has been talking about and planning the niche fund for some time,

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Don’t fall into the double commission trap

Bringing in as many agents as possible might seem like a good idea to a homeowner who is eager to sell a property as quickly as possible, but it may put him in danger of paying more than one commission, warns Chris Tyson, Managing Director of Tyson Properties. Known in the property business as

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Poland’s dominant retail property owner trades as EPP from today

JSE-listed EPP – the leading owner and operator of shopping centres in Poland, began trading under its new, shorter name today. This follows its announcement on 29 May of the name change from Echo Polska Properties, which it said concluded the company’s eight-month rebranding process. This in

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Young professionals drawn to cosmopolitan, trendy Johannesburg homes

Johannesburg, 29 May 2018 – With such a variety of so many homes to choose from, many young professionals in Johannesburg north prefer to buy in the suburbs of Paulshof and Sunninghill. Both suburbs are centrally located close to major roads and highways, with amenities including places of wors

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Pam Golding Properties’ North Durban office reports record January sales, outperforming the company’s Atlantic Seaboard office for the first time in history

The KwaZulu-Natal property market and in particular North Durban, has taken centre stage as a more appealing and affordable alternative to alluring Cape Town, which is dealing with a severe drought. That’s the view of Pam Golding Properties’ area principal for Durban Coastal, Carol Reynolds,

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Attacq Ltd Refutes Link to Allegations of Illegal Waterfall City Water Connections

31 May 2018: Attacq Ltd, the JSE listed property company developing Waterfall City and Waterfall Logistics Hub, categorically refutes City of Johannesburg (CoJ) allegations in relation to illegal water connections at some of the properties under its management in Waterfall City. Attacq further state

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Ballito Junction attracts 12m shoppers and R2bn in spend in a record first year

The Ballito Junction Regional Mall on KZN’s North Coast is booming, with twelve million people having visited the centre and spending some R2 billion during its first year of trade. That’s the word from the mall’s management, who say the iconic young shopping centre is already outperforming

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FMF director Temba Nolutshungu: Expropriation without compensation is a betrayal of the struggle

“Expropriation without compensation (EWC) is a betrayal of the struggle and the most ominious reversal on the road to true liberation for black South Africans since apartheid. It will deny the rights for which black citizens fought and died. Ironically, it will be the children of those perpetratin

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Africans investing in Africa

While the number of international buyers in residential property in South Africa remains relatively low, at somewhere in the region of three percent nationally, investors from elsewhere on the continent – including returning expats – retain their appetite for the acquisition of South African rea

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The injustice of shady home auctions, Thuli Madonsela

The court judgment allowing a bank to sell a R470,000 house for just R40,000 is a grave misstep if we’re really serious about social justice. Hardly anyone seems to notice when I use Twitter to discuss social justice matters that don’t affect everyone. Tweets about my adorable granddaughter u

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Change your financial future by investing in real estate

“The deal of the decade comes along about once a week.” This has become something of a signature phrase in my life – not just because it is true for me, but because it has proven itself to be true for countless students. Property is generally a win-win investment choice; it comes with multiple

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Development of rental apartments a new trend in Rivonia

In recent years the demand for sectional title apartments – both for rent and to purchase – in Rivonia, which is considered to be one of the most affluent residential and suburbs in Johannesburg, has been incredibly strong. This is according to Chris Renecle, MD of Renprop, which has successfull

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The Parks lifestyle a major drawcard for buyers

The charming and old established homes of Parktown North, Parkwood, Parkview and Parkhurst, also known as ‘The Parks’ continue to enjoy demand from buyers looking for a secure lifestyle in a convenient location. According to Pam Golding Properties area specialists, these suburbs are convenien

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SAPOA challenges City of Joburg draft outdoor advertising by-laws omissions

SAPOA is concerned over fundamental omissions in the City of Joburg’s proposed outdoor advertising by-laws. Upon considering a comparison of the initially proposed By-laws that were published in 2017 for public participation and comment and the new By-Laws that will come into effect at the end of

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VUKILE ACQUIRES SHOPPING CENTRE IN SPAIN FOR EUR80.6M GROWING ITS SPANISH RETAIL INVESTMENT TO NEARLY EUR400M

Vukile Property Fund has acquired its first shopping centre in Spain, Habaneras Shopping Centre in the popular coastal city of Torrevieja, through its 98.7%-owned Spanish REIT subsidiary Castellana Properties SOCIMI S.A. Vukile entered the Spanish retail property market in July 2017, announcing i

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South African’s fight to ‘keep up with the Joneses’

PayProp Rental Index findings have shown that the average percentage of South African tenants’ net income that they spend on rent increases disproportionally as their income increases. “Our assumption is that people who earn more can afford higher rents, but this doesn’t always seem to be the

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Redefine’s distribution growth slows to 5.5% for HY 2018

JSE-Listed Real Estate Investment Trust (REIT) and Top40 index company, Redefine Properties Limited, today declared a slower distribution growth of 5.5% for the six months ended 28 February 2018. In its SENS announcement this morning, Redefine said the distribution growth for the period was “in

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Stenprop buys Shrewsbury multi industrial estate

Stenprop has acquired a fully-let industrial estate in Shrewsbury for £2.9 million in line with its stated strategy to focus on UK multi-let industrial (MLI) property. The purchase from South Street Capital reflects a net initial yield of 6.7%. Greenwood Industrial Estate is located off Cartmel

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Pam Golding Properties’ North Durban office reports record January sales, outperforming the company’s Atlantic Seaboard office for the first time in history

The KwaZulu-Natal property market and in particular North Durban, has taken centre stage as a more appealing and affordable alternative to alluring Cape Town, which is dealing with a severe drought. That’s the view of Pam Golding Properties’ area principal for Durban Coastal, Carol Reynolds,

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Fortress eyes even bigger logistics property portfolio

JSE-Listed Real Estate Investment Trust (REIT), Fortress, is aiming for more than 66% of its portfolio to be logistics-focused properties by 2020. Logistics properties already makes up some 42% of its total portfolio, accounting for 100 such properties across the country. Commenting on the move,

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Limpopo’s Thavhani City mixed-use precinct attracts Builders Warehouse and landmark healthcare facilities

The burgeoning Thavhani City mixed-use precinct being developed as a major new economic centre in Thohoyandou, Limpopo, is set to be home to the largest flagship NHC medical day care clinic in South Africa and the first Builders Warehouse in the region. That’s the word from Flanagan & Gerard Pr

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Atterbury’s investment in The Club precinct in Pretoria hits R600 million, as a new high tech surgical centre opens

The Club mixed-use development in Pretoria has seen some R600 million in property investment, according to developers Atterbury, who recently introduced a cutting edge new surgical centre within the precinct. Dubbed Club Surgical Centre, the 4,800sqm state-of-the-art day hospital opened its doors

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Joburg’s Draft Inclusionary Housing Policy does not take into account residential market realities, says SAPOA

The City of Joburg’s Draft Inclusionary Housing Policy does not address the many complex matters associated with the question of affordable housing and inclusionary housing, including residential market realities, or what the financial and social consequences may be for introducing such a policy.

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Retail REIT Fairvest raises R250 million in new equity

Fairvest Property Holdings Limited, the JSE-listed retail REIT that focuses uniquely on rural and community shopping centres servicing lower income markets, raised some R250 million in new equity earlier this month. Darren Wilder, Fairvest Chief Executive Officer, said in a statement the transact

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Land expropriation without compensation, no need to panic

South Africa continues to see sensational reports on the question of land expropriation without compensation and especially those around land grabs which seem to be rearing its head in various areas. Stuart Manning, CEO for the Seeff Property Group however, says that the question of land expropriati

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The story behind Andile Mazwai’s Rebosis resignation

Rebosis Property Fund CEO, Andile Mazwai’s resignation yesterday came as a negative surprise to the market with the company’s share price dropping by more than 10.4%. Sesfikile Capital director and asset manager Kundayi Munzara told SA Property Insider on Thursday that the resignation by Maz

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Commercial property market a safer investment option than shares

Now, more than ever, investors are finding it a safer option to invest in direct property than in shares, says Norman Raad, CEO of Broll Auctions & Sales. “The recent slump in numerous listed property shares, which have been trading well over their net asset value (NAV), is testament to the fac

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Property investment hotspots in the Northern Cape

House prices in the Northern Cape are reflecting robust growth as the demand for residential accommodation outstrips supply. This four bedroom, four bathroom home in Springbok is currently run as a guesthouse, and can easily be used as a family home. The property has a flatlet, and is selling for

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SA property sector shows resilience in 2017, as IPD index comes in at 11.7%

MSCI’s influential IPD South Africa Annual Property Index, which was release today, showed that the local property investment sector delivered an ungeared total return of 11.7% in 2017. This was less than a percentage point up from 2016’s return of 10.9%, but comes as somewhat of a surprise cons

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Dipula property portfolio to top a million square metres

Leading black empowered JSE-listed mid-cap REIT, Dipula Income Fund, is set to see its diversified property portfolio top the million square metre mark. The milestone will come in May when Dipula takes transfer of a 340,221m² (GLA) property portfolio as part of a R1.25 billion acquisition. Dipul

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SA’s first Hilton Garden Inn to open in Umhlanga in 2020

Hilton hotels group has signed a management agreement with Durban-based UA Hotel Company to open a 207 guestroom Hilton Garden Inn Umhlanga Arch in the booming Ridgeside precinct of Umhlanga in 2020. The new hotel will be part of the R1.3 billion Umhlanga Arch mixed-use development under construc

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Selling in order to emigrate at its lowest level in the history at an estimated 2% of total home selling

The first quarter 2018 First National Bank (FNB) Estate Agent Survey pointed to a virtually unchanged estimated rate of emigration-related home selling, following a prior a multi-year rising trend which started back in 2014. This leaves the rate of emigration selling somewhat “elevated”. In t

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Have your say in Sandton Central’s skyline of the future and development in Joburg

If you have a vision for the future of Sandton Central and the city of Joburg, now is the time to have your say and share your passion, insights and ideas. With the recent approval of Johannesburg’s Spatial Development Framework 2040, the Department of Development Planning and Urban Management

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Redefine powers up solar sustainability efforts and reduces it carbon footprint

Diversified JSE-listed real estate investment trust, Redefine Properties, is anticipating savings of more than R32 million in annual energy costs and over 32,000 tons of CO2 emissions (tCO2 e) from existing solar plants as well as plants that are being commissioned during the year at its properties.

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Liberty Two Degrees disappoints with maiden FY results

In its maiden full-year results, Liberty Two Degrees (L2D) delivered a lackluster 2017 performance, with 59.22 cents distribution per unit. This is over 5 cents below its initial forecast. The SA real estate investment trust (REIT), which has stakes in iconic property assets like Sandton City and

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Growthpoint kicks off ninth year of Growsmart in W Cape

Growsmart, the leading education initiative by JSE-listed Growthpoint Properties in collaboration with the Western Cape Department of Education, this month launched its ninth annual programme focused on boosting the literacy, numeracy and science performance of primary school children. The progra

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Sandton City gets R90m upgrade and SA’s first Hamleys World store

Sandton City – Johannesburg’s biggest and busiest shopping destination – will be home to SA’s first ever Hamleys World Store and boast a slide for kids to ride straight into the store as part of a R90 million upgrade. The revamp, aimed at ‘opening up’ the tired cinema section of the s

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Are proptech start-ups revolutionising the property sector?

When it comes to real estate, the development of “proptech” – or property technology – has changed the world of buying and selling property online. In essence, proptech refers to the way that the internet and other digital technology is changing how consumers take on decisions such as buying

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Best places to invest in UK student property in 2018

Prelude: South Africans may be feeling like they have received a 13th paycheck. The positive vibe created with the nomination of Ramaphosa has sent positive vibes across the country. The value has been buoyed by the potential turnaround and end to the corruptions scandals which has dominated the hea

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Emira eyes more US investments as it posts positive results

Emira Property Fund – the only South African real estate investment trust currently invested in the USA – aims to secure more US assets and more than double its distribution growth next year. The company on Wednesday posted a 2.5% increase in distribution for the half year ending 31 December 201

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Shortage of retirement homes creates opportunities with growing population over 65

Governments are unable to meet the growing demand for care homes and retirement villages. Over the next 25 years the number of centenarians is predicted to increase six-fold and one in 12 people will be aged 80 or above. This is due to the “baby boomer” generation reaching old age and improvemen

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Demand for Durban business space boosted by call centres and tourism

Demand for business space on KwaZulu-Natal’s north Durban corridor is being boosted by the growth of the call centre and tourism industries, according to Xoli Shabalala, Tongaat Hulett Developments’ Head of Market Solutions. Shabalala said in a statement this week, that the availability of af

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SA REIT returns growth slows

While the FTSE/JSE South African Listed Property Index (SAPY) achieved total returns of 17.2% in 2017, SA REITs (real estate investment trusts) specifically returned 13.5%. Research from Bridge Fund Managers showed that SA REITs returned 14.7% in 2016, which highlights a slowing growth trend in the

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Green light for McCormick’s R1.2 billion Capital Mall

Pretoria-based McCormick Property Development has secured approval from the City of Tshwane to develop a new R1.2 billion regional shopping centre, spanning 60 000sqm, in the west of the city. McCormick made the announcement yesterday, and said the double level centre dubbed Capital Mall, would b

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Unibail-Rodamco financial chief to headline SA REIT Conference 2018

French property giant Unibail-Rodamco’s Chief Financial Officer, Jaap Tonckens, will be the headline speaker at the SA REIT Conference 2018, taking place at the Sandton Convention Centre in Sandton Central, Johannesburg, next month. Unibail-Rodamco is the largest commercial real estate company

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Taking out debt for a bond deposit is risky

12 February 2018: First time home buyers often get caught by surprise when banks ask for a deposit in order to secure a home loan. “When applying for a home loan, banks will access your credit status to establish whether you will be able to meet the bond payments. Depending on the outcome, you

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Strongest rand in years makes ‘now’ the best time to invest in overseas property

The rand’s positive reaction to the appointment of Cyril Ramaphosa as ANC leader means that South Africans are in the best position in years to diversify their investments with an overseas property portfolio. Lisa Bathurst, Director of Hurst and Wills, independent overseas property investment

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Innovative thinking and effective partnerships are vital for the continued effectiveness of SA’s affordable housing sector

SA’s high, and increasing levels of poverty and unemployment, and still very low average household income, mean that a disproportionate number of individuals and families across the country are unable to participate in the housing market. The heightened socio-economic challenges facing the country

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Accenture SA to move HQ to Attacq’s Waterfall City

Global management consulting firm, Accenture, is set to move its South African head office to the Waterfall City mega development node in central Gauteng by the end of the year. Accenture SA confirmed to SAPropertyInsider this week its planned move to a new 3875m², multi-million rand office buildin

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Buying a property under a trust needs careful consideration

There are advantages and disadvantages to buying property in a trust and this is not a solution for everyone. Setting up a trust is also a fairly costly exercise. It is advisable to discuss your needs with a financial advisor or conveyancing attorney. Trusts are formed for many reasons, most ofte

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SA listed property firms remuneration structures coming under the spotlight

With the maturation of the listed South African property sector that began with just a few companies in the early 2000s, remuneration structures are now being challenged. Last week, Arrowhead Properties and Dipula Income Fund held annual general meetings where their remuneration policies faced cr

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RICS launches global competition to find solutions to problems facing the world’s expanding cities

RICS (the Royal Institution of Chartered Surveyors) has launched the Cities for our Future Challenge, calling on young people to come up with fresh, new ideas to help tackle the most pressing problems affecting cities in Africa and around the world. The competition is held in partnership with the

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Listed property firms have taken steps to reduce usage and to provide supply for tenants in Cape Town when Day Zero arrives

Several prominent listed real estate groups have promised tenants they will have water in the event of Day Zero, when the City of Cape Town is expected to turn off the taps. Property groups Growthpoint Properties, Hyprop Investments, Redefine Properties and the Amdec group — which all own or ar

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What to expect from the property market in 2018

South Africa’s sometimes volatile currency and economy can be daunting for some investors, but economic uncertainty does not necessarily affect all sectors. Despite confidence in the economy remaining somewhat skeptical, many new construction projects were announced during 2017 and significant inv

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Property prices for 2018: Will they go up or down

However, the ANC’s resolution about expropriation of land without compensation is likely to have a negative impact on property prices. The trend that has seen the growth in local residential property prices fall below consumer inflation, so in real terms properties are becoming less valuable, m

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Joburg property owners can help shape rates

As the city of Joburg approaches its new financial year, which includes increases in services, residents have been invited to public participation meetings. The city is calling on all property owners to help shape the 2018/2019 property rates policy by taking part in the public consultation meeti

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