Rode Media

Riverstone Mall nears opening

Alley Roads Group has confirmed that the construction of its Riverstone Mall has been completed, with occupational handover to tenants being finalised before the mall’s opening at the end of the month.

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Opinion

Repo rate stays the same

While it is unfortunate that the Reserve Bank has decided to hold the repo rate steady, three previous cuts have had a noticeable impact on the property market

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Opinion

Unchanged interest rate a missed opportunity

The decision by the Monetary Policy Committee of the SARB to retain the interest rate at the current level of 7.50% (prime rate at 11%) is disappointing and a missed opportunity to provide vital relief to consumers and property buyers and a boost to the economy, says Samuel Seeff, chairman of the Seeff Property Group.

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Opinion

Unchanged repo rate disappointing news for home buyers

“With the February 2025 consumer inflation rate unchanged at 3.2% – below market expectations – the Monetary Policy Committee’s decision not to reduce the repo rate disappointed existing mortgage holders and aspirant home buyers,” says Andrew Golding, chief executive of Pam Golding Property Group. This means that the SA Reserve Bank repo rate remains 7.5%, while the prime lending rate stays at 11.0%.

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REITs

Vukile acquires flagship Spanish mall in EUR305 million deal

Vukile Property Fund (JSE: VKE), the leading specialist retail real estate investment trust (REIT), through its 99.5% held Spanish subsidiary Castellana Properties, has acquired the largest shopping centre in Spain’s Valencia province, the iconic Bonaire Shopping Centre, from multinational retail REIT Unibail-Rodamco-Westfield.

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Mall of Mthatha: A new name for a new era of retail in Mthatha

Since its acquisition in May 2024 by Flanagan & Gerard Property Group and leading retail REIT Vukile Property Fund (JSE: VKE), Mall of Mthatha (formerly BT Ngebs City) has undergone significant enhancements aimed at elevating the shopping experience and reinforcing its position as the region’s leading retail destination.

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International

Burstone Group JV expands fund management strategy in Australia with growth of industrial and logistics platform alongside TPG Angelo Gordon

The Burstone Group’s Australian joint venture (JV) with the real estate fund manager, Irongate Group, has established an agreement with TPG Angelo Gordon, a diversified credit and real estate investing platform within TPG, with approximately US$91 billion assets under management. TPG is a leading global alternative asset management firm.

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Legal

Property sector showdown: Sakeliga challenges South Africa’s PPRA regulation

South Africa’s property industry faces a significant legal battle as the business interest group Sakeliga takes on elements of the Property Practitioners Act of 2022. The group argues that the Act enforces excessive regulatory control and compels Broad-Based Black Economic Empowerment (B-BBEE) compliance in unwarranted ways. A successful challenge could have widespread implications for numerous businesses, offering them more operational freedom without mandatory BEE certifications.

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Click on the cover of the
Rode Retail Report
to view the publication

In this edition, we report that retail sales rose significantly in the last quarter of 2024 compared to the same quarter a year earlier. This increase was driven by a slowdown in inflation, reduced interest rates, and two-pot retirement withdrawals. Regarding the availability of shopping space, Rode’s data indicates that the new supply of malls will rise sharply in 2025, reaching the highest level since 2019.

Click on the cover of
the Rode Report 2024:4 to view the publication

It’s been quite a dynamic start to 2025, hasn’t it? With Donald Trump back in the spotlight, his policies and statements have undoubtedly stirred the pot on the global stage, and even South Africa has faced criticism.

What are we to make of all the noise?

Click on the cover and find out!

Click on the cover of
the new look Rode SA Property Trends to view the publication

Welcome to another issue of Rode SA Property Trends. This publication provides a six-year outlook for the South African property sector until 2029, using two macroeconomic scenarios.