4 Dec 2012

Property & Real Estate

 



Labour unrest: SA faces decisive choices

Agri SA says that the choices on labour unrest will be decisive for South Africa. It says in a statement that it is evident that the wage and related challenges are not exclusively, but mainly that of seasonal workers who have to earn their annual income over a period of a few months.

On the education front, something really needs to be done to jack up our education system after the latest results show that maths and science skills remain poor, with grade nine pupils recording a dismal average score of 12.7% in mathematics and 35% in first additional language in the Department of Basic Education's second annual national assessments of pupils' mathematics and literacy abilities.

Such results will have a massive impact on school-leavers' ability to find employment.

On the tourism front, Chris Moerdyk asks: Is SA being priced out of the tourist market? As comments on the article seem to have it, the answer could be a big "Yes!" and remember, once tourists have been ripped off - or feel they have been ripped off - they will never come back, and they will tell everyone they know.

Finally, Amelia Jones reckons that the proposed BEE amendments are nonsensical, immoral and counter-productive and will hamper social development efforts in the Western Cape and elsewhere.

Rod Baker: Content Director

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R450m upgrade for Sandton Towers
[Thabang Mokopanele] Liberty Holdings and Pareto are investing R450m to upgrade the Sandton Twin Towers office complex with a plan to turn it into the premier office address in Gauteng targeting the high-end local and international corporate market. Read more >>

Growthpoint objects to Matlosana Mall
[Brian Hayward] The largest property investment holding company listed on the JSE‚ Growthpoint Properties‚ has invoked the ire of Klerksdorp townsfolk over its aversion to a lucrative new development in the town. Read more >>

Test case for securities exchange
South Africa's biggest listed mall owner, Hyprop Investments, is taking fellow retail-focused property fund Sycom to court in what could be a test case for the JSE on how it deals with corporate action by property unit trusts (PUTs). Read more >>

Waterfall Business Estate begins next phase
The next phase of development at Waterfall Business Estate will begin before year-end. Atterbury's latest development includes a landmark 23nbsp;000 sqm head office for Group Five and a 26nbsp;500 sqm warehouse for Tarsus. It is also developing 6000 sqm of offices for Golder Associates and another 5000 sqm speculative building at Maxwell Office Park. Read more >>

Karoo farms attracted substantial interest in 2012
In reviewing 2012, Wayne Rubidge, manager for Pam Golding Properties in the Karoo, notes that Karoo farms attracted substantial interest from the full spectrum of South African farm buyers. While most commercial livestock and irrigation farms attract interest from South African buyers, foreign buyers focus mainly on game farms and smaller lifestyle or boutique Karoo farms. Read more >>

Excellent value on offer in commercial property market - Aucor
The prevailing low interest rate environment, which is at historically low levels following the reserve bank's July interest rate decision, has sparked renewed interest and activity in the commercial property market, especially through auctions. Read more >>

Property management


Tourism in Western Cape stimulates property market - Leapfrog
According to the Industrial Development Corporation's Integrated Annual Report for 2012, tourism makes up 8.6% of South Africa's GDP and employs an estimated 1.2 million people. For a country that relieves as heavily on tourism as South Africa this is very good news and, like the Soccer World Cup in 2010 and the Design Capital of the Year in 2014, will hopefully encourage more people to visit the country. Read more >>

First phase of Lephalale Mall opens for business
[Thabang Mokopanele] The R170m Lephalale Mall has opened its doors, bringing the long-awaited convenience of one-stop shopping to this growing Limpopo town. Read more >>

Residential


Nedbank wants to keep growing revenues
[Sure Kamhunga] Nedbank would next year avoid chasing growth for the sake of increasing its market share, but would continue to seek opportunities to grow revenues‚ said Ingrid Johnson‚ the group managing executive for retail and business banking Read more >>

'Urban bully' must demolish house
The Port Elizabeth High Court has described a Summerstrand property owner's decision to convert his Sixth Avenue house into an 11-bedroom guesthouse as a form of urban bullying and has given owner Marais Ellis two months to demolish it. Read more >>

Potential home owners should not be deterred by bond refusals
Although the ongoing publicity on the National Credit Act and the continued tightening up of the banks' criteria for issuing bonds is to be welcomed in general, it has had the unfortunate effect of deterring many potential home owners from trying to realise their dreams. Read more >>

Infrastructure plans: Group Five 'confident'
[Alistair Anderson] JSE-listed construction company Group Five is confident it can benefit from the government's infrastructure roll-out‚ which is expected to kick into gear next year. Read more >>

Home owners should take out additional insurance against natural disasters
Insurance policies on property usually include clauses which reduce the compensation for which they are responsible, if and when a force majeure takes place in the insured property's area. This is understandable because weather catastrophes like the recent Hurricane Sandy on the East Coast of the USA have the potential to bankrupt an insurance group, says Tony Clarke, managing director of the Rawson Property Group. Read more >>


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