PropertyWeb brings you the latest news in the real estate sector from around Southern Africa. It is managed by Network 9, a division of The High Option Ltd.
Property News

Budget 2019: Government to pour R69 billion into cash-strapped Eskom

Finance Minister, Tito Mboweni delivered his maiden Budget address, revealing plans to help Eskom financial and operational crisis. South Africa’s Finance Minister, Tito Mboweni delivered his maiden Budget address, revealing plans to help Eskom financial and operational crisis — and do urgent maintenance to secure the supply of electricity. Eskom’s financial and operational crisis loomed […]

Property News

Global lift and escalator industry players to explore Africa’s market potential

Global Lift & Escalator Expo (GLE Expo) is an ideal platform for the elevator, escalator, components and accessories manufacturers to showcase their products and technologies. The Elevator and Escalator (E&E) industry is abuzz with the news of the Global Lift & Escalator Expo (GLE Expo) entering the African market. GLE Expo is an ideal platform for the […]

Property News

Advisory panel on land reform makes progress

Addressing the colloquium, Planning, Monitoring and Evaluation Minister Nkosazana Dlamini-Zuma said land is a key asset to drive development, the reform of which must address socio-economic issues. The ten-member expert Advisory Panel on Land Reform has its hands full with a looming deadline to submit a policy perspective to the Presidency that will drive land […]

Property News

Fairvest returns places group in the top two performing REITs

Fairvest Property Holdings Limited has announced solid results for the six months to December 2018, with an interim distributions increasing by 8.3% to 10.616 cents per share. Darren Wilder, Chief Executive Officer comments: “Fairvest’s focus on a differentiated sector of the market and its unrelenting drive to excel at property fundamentals, have allowed investors to […]

Property News

University of Mpumalanga calls on homeowners to assist with accommodation

The University of Mpumlanga’s number of students are predicted to increase to 50 000 in 2019 and 2020 and the demand for student accommodation far outstrips the supply by a large margin. According to Carien Brink, Seeff’s Marketing Manager in Nelspruit says that at the moment, the University of Mpumalanga students are accommodated in student […]

Property News

Hammerson releases results for the year ended 31st December 2018

David Atkins, Chief Executive of Hammerson, said: “2018 was a tough year particularly in the UK. Tenant failures, the structural shift in retail and a more considered consumer created a difficult operating environment, putting pressure on property values. Outside of the UK our destinations performed better with a strong contribution from premium outlets”. “We believe […]

Property News

Property Forum calls on government to help construction industry

The construction industry is hemorrhaging with an increasing slowdown in approval processes by local and provincial governments and it is costing the Western Cape thousands of jobs which could potentially lead to a loss of scarce skills.  According to the Western Cape Property Development Forum, property developers (and other industry professionals) have voiced numerous concerns […]

Property News

How to buy a home off-plan

Placing your trust in a developer to deliver the home of your dreams when all you’ve seen are artists’ impressions, requires a leap of faith. However, there are many benefits to buying off-plan, particularly from a developer with an established track record. Clifford Oosthuizen, MD of Westbrook Property Developments, believes the most important thing property […]

Property News

Residential building activity in 2018 in line with that of previous years

Levels of building activity in the South African market for new housing remained subdued in 2018, which were much in line with trends since 2010 after the economy emerged from recession in 2008/2009. The planning phase of new housing, as reflected by the number of building plans approved by local government institutions, contracted marginally in […]

Property News

Submissions open for the 2019 SAPOA Property Journalism Awards for Excellence

SAPOA and Excellerate have once again partnered for 2019’s installment of the Property Journalism Awards for Excellence which recognise and honor South African property journalists who have made noteworthy contributions to the commercial and industrial property industry through quality media coverage.  The theme for this year’s awards is Authentic Journalism is a Good Business Practice. […]

Property News

The All Property Index bounced in January, delivering a total return of +8.4% but the rally was overdone

The All Property Index (ALPI) bounced in the month of January, delivering a total return of +8.4%. The 2018 calendar year witnessed the worst recorded performance for South African Listed Property, and while we saw the sector offering value at the start of 2019, we do believe the rally was overdone. All the major asset […]

Property News

Shopping centre space development in decline in South African urban areas due to oversupply

The amount of shopping space approved for development declined 88.7 percent year-on-year in November, representing a decrease of almost 200000m² compared to the corresponding month last year. This reduction was “quite stark”, admitted construction market intelligence firm Industry Insight in its latest construction industry monthly monitor.However, Industry Insight said it maintained its view that there […]

Property News

Off-plan property buyers caught unawares with development delays

Buying a property off-plan is often perceived as a smart option for people looking for a good deal. Negotiating directly with developers on your requirements and even sometimes benefiting from a lower price can seem attractive. However, Wilhelm Jonker, business developer at lending specialist Paragon Lending Solutions warns buyers that unforeseen delays in the development […]

Property News

Despite challenging retail market conditions Grit delivers robust interim results for the period ending 31 December 2018

Despite challenging retail market conditions, London Stock Exchange listed Grit today announced robust interim results for the period ending 31 December 2018 with robust operational, strategic and financial performance following its listing on the main board of the London Stock Exchange on 31 July 2018. “This has been another busy and successful period in which […]