The recent ruling by the Supreme Court of Appeal where the body corporate of Gardens Lodge in Cape Town was found to have charged a “patently exorbitant” interest rate on levies that were outstanding, is a lesson to many other bodies corporate in the way members’ outstanding levy accounts should be...
Private sector-financed building activity in the South African market for new housing showed divergent trends in early 2019. The number of building plans approved for new housing was down by 19,8% year-on-year, or 2 160 plans, to 8 739 plans in the first two months of the year, whereas the volume...
The digital revolution has altered our lives in just two decades, impacting almost every aspect of our lives however, experts believe that we have yet to experience the most dramatic transformation. Once a futuristic concept, smart cities are already an established trend in Europe and the United...
The Amdec Group has recently unveiled its latest development, The Yacht Club. This R1.5 billion, mixed-use property includes 170 luxury residential apartments, 6 000 square meters of premium grade office space spanning two levels and, Africa’s first AC Hotel by Marriott. The group acquired the...
intu Properties and Cale Street Investments LP have announced the establishment of a 50/50 joint venture for the intu Derby shopping centre. Cale Street, an investment firm backed by the Kuwait Investment Office in London, will acquire for cash the 50 per cent interest for consideration which...
Petrol station sites have continued to attract investor demand as they show increasingly promising yields during a challenging economic environment. Investors are eyeing this market carefully, with strong competition for established service stations across South Africa says Simon Wilkins, Galetti...
The Public Investment Corporation SOC Limited (PIC) has increased its beneficial shareholding in Texton Property Fund, growing its stake in the South African REIT from 5,2% to 18.9%. The Public Investment Corporation has now become Texton’s largest shareholder. Marius Muller, CEO of Texton...
For the past few years, the industrial property sector has outperformed the office, retail and leisure property sectors and it is expected to continue to perform reasonably well into the foreseeable future. This is according to Tony Bales, industrial property expert at Epping Property who says that...
While South Africans wait for the conclusion of the May Elections and the economy to take the positive turn in anticipation, Samuel Seeff, chairman of the Seeff Property Group says it would be remiss not to continue cautioning that economic and property market recovery will take time. The recently...
The first phase of Fortress REIT’s White River Crossing is nearing completion. A state-of-the-art retail and leisure centre near the Kruger National Park, the development is nearing completion and on course for its scheduled opening in August. The first phase of the 10 300 square meter...
