Property News

Moody’s downgrades South Africa’s credit rating to junk

Moody’s Investors Service has downgraded South Africa’s credit rating below investment grade. Moody’s Investors Service has downgraded South Africa’s credit rating to subinvestment grade, as a recession deepened by the impact of coronavirus frustrates economic reform efforts aimed at reducing government debt. The downgrade comes on the same day that South Africa entered a 21-day […]

Property News

Community living in the time of Covid-19

Following the declaration of a national state of disaster by President Cyril Ramaphosa to curb the spread of Covid-19 in South Africa, the trustees and directors of community schemes like townhouse complexes, retirement villages and residential estates must ensure that the measures implemented by the President are complied with, says specialist community schemes attorney Marina Constas. Failure […]

Property News

Paddocks Press – March 2020

Leave a Reply Your email address will not be published. Required fields are marked * I have read and accepted the Terms & Conditions * Save my name, email, and website in this browser for the next time I comment. Source: https://www.paddocks.co.za/paddocks-press-newsletter/paddocks-press-march-2020/

Property News

All in favour? All opposed?

I recently presented a workshop during which I discussed with those in attendance the requirement and importance of having members of bodies corporate cast their votes on voting cards at the scheme’s general meetings. Some of the feedback I received from managing agents attending the workshop included “But we have been voting by show of […]

Property News

HOA NPC – Ensure compliance with CIPC checklist

On 13 August 2019 the Companies and Intellectual Property Commission (CIPC) announced that from 1 January 2020 it will be mandatory for all companies to complete a Compliance Checklist before submitting their annual returns. This Compliance Checklist requires entities to declare their compliance status with the mandatory requirements of the Companies Act, 71 of 2008 […]

Property News

Q&A – 2020 03

By the Paddocks Club team Below are examples of two questions on the Paddocks Club discussion forum, to show you what is available to our Community members! Trustees wish to delay the annual general meeting due to COVID-19 Member’s question: Good day Paddocks, As we are all aware, with the worldwide and nationwide spread of […]

Property News

Commentary: South Africa’s lock down and the possible effects on real estate

Regional Director and CEO of RE/MAX of Southern Africa, Adrian Goslett: “I commend the president for taking such a proactive measures against this pandemic. After speaking to Dario Castiglia, Regional Owner for RE/MAX Italy, I was convinced and firmly believe that a full lockdown is the answer to flattening the contamination curve and making sure […]

Property News

Domino’s Pizza comes to a grinding halt

The introduction of Domino’s Pizza to the South African market in October 2014 broke several sales records in the first full week of trade. Taste Holdings [JSE:TAS], former owner of Starbucks, announced that it will voluntarily liquidate Domino’s Pizza, following its failure to find a buyer for the pizza chain. The news comes after Walmart-owned […]

Property News

DoubleTree by Hilton Cape Town unveils self-isolation rooms

Located in the Upper Eastside precinct in Woodstock, Cape Town, DoubleTree by Hilton is equipped with hygiene hampers and isolation facilities for self-quarantined citizens. In a bid to curb the spread of Coronavirus (Covid-19), JSE-listed Spear Reit, the owner of the DoubleTree by Hilton Cape Town, has unveiled sanitized sanctuaries and self-quarantine accommodation. This comes […]

Property News

SA Reserve Bank cuts interest rates to 5.25%

Amid Coronavirus (Covid-19) crisis, SA Reserve Bank Governor Lesetja Kganyago today announced the decision to cut the interest rate to 5.25%. Amid disruptions due to the Coronavirus (Covid-19) crisis, the South African Reserve Bank (SARB) has cut interest rates by 100 basis points, from 6.25% to 5.25%, Governor Lesetja Kganyago announced on Thursday. The Monetary […]

Property News

Flow 2.0 to provide a rental platform for the property rental marketplace

South African proptech startup Flow has released the second iteration of their world-first app. Flow 2.0 will provide a full-stack rental platform for the property rental marketplace, matching great tenants with top-rated landlords. The new version of the service lays the rails for the future of the platform, adding more data science layers and providing […]

Property News

Spear REIT launches one of South Africa’s first self-isolation unit offerings

JSE listed Spear REIT Limited, the owner of the Double Tree by Hilton Cape Town, is the first in South Africa to launch an innovative self-quarantine accommodation solution. Francois Steyn, Hospitality Asset Manager at Spear REIT highlights that: “Guests will be received and made to feel at home. There is enough trauma associated with being […]

Property News

Ex-RMB CCO to join forces with Heartwood Properties

Peter Gent, ex-RMB Chief Operating Officer, has been appointed as an independent, non-executive director to the board of directors of commercial property development company, Heartwood Properties, who are listed on the 4AX (4 Africa Exchange). He will also serve as a member of the audit and risk committee, and investment committee. Gent is currently an independent management consultant whose […]

Property News

Growthpoint Properties attributes solid results to internationalisation

Norbert Sasse, Group CEO of Growthpoint Properties, attributed the company’s increase in distributable income and asset value to its growth strategies, specifically internationalisation. Growthpoint now has 35.2% of its assets offshore, contributing 24.3% to its earnings before interest and tax (EBIT). Growthpoint Properties last week reported distributable income growth of 2.2% to R3.2bn, an increase […]