Construction shortfalls are pushing up residential rents to record highs, according to the rental payment experts at PayProp. Data from the platform, which processed more than R1.4 billion in rent in June 2024, shows that the average rent in the country rose by 4.9% year on year in Q2 2024 – the fastest growth since 2017.
Attacq Limited delivers 19.0% growth in dividend per share, despite a challenging environment supported by purpose driven strategy to deliver sustainable growth.
Distributable income per share increased by 19.9% to 86.2 cents
Full-year dividend growth of 19.0% to 69.0 cents per share (cps)
Gearing improved to 25.4%, and interest cover ratio improved to 2.31 times
Occupancy increased to 92.8%, and collections remained high at 100.2%
Developments under construction and approved pipeline totalling 43 766m2 of gross lettable area (GLA) at Waterfall City with a total cost of R1.7 billion
Installed 12 rooftop PV systems totalling 2.28MWp
Long-term and short-term GCR credit rating of A+[ZA] and A1[ZA] respectively with a stable outlook achieved
Africa is undergoing a wealth boom. With an astounding $2.5 trillion in investible wealth, the continent is on the brink of an economic transformation. According to the 2024 Africa Wealth Report, Africa will see a 65% surge in its millionaire population over the next decade. Mauritius and Namibia are among the top 10 propellants of this wealth explosion, with Mauritius expected to see 95% growth in its millionaire population and Namibia 85% by 2033.
Itumeleng Mothibeli steps into his role as the new President of the South African Property Owners Association (SAPOA) with a clear and ambitious vision: to steer the property sector towards inclusive growth, innovation, and transformation.
As the Managing Director for Southern Africa at Vukile Property Fund, Mothibeli brings both industry expertise and a forward-looking strategy focused on education, research, and collaboration. He is determined to empower the property sector to drive solutions for some of South Africa's most pressing socio-economic challenges.
Hyprop Investments Limited (JSE: HYP), a listed REIT and admyt, a leader in ticketless parking solutions, today announced a strategic partnership to improve parking experiences at Hyprop’s dominant retail centres. admyt will now be available at over 70 locations nationwide.
Seamless ticketless parking will be introduced to millions of shoppers at Hyprop centres, leveraging admyt's rapidly growing user base and network of locations.
As South Africa adjusts to the new Government of National Unity (GNU), there’s cautious optimism regarding the residential property market. Just Property CEO Paul Stevens believes that, like the previous GNU, this coalition could bring about positive changes, especially if pro-business policies are prioritized.
The success of this coalition hinges on political stability and effective economic policies. Bradd Bendall, National Head of Sales at BetterBond, notes that the recent drop in inflation rates and potential interest rate cuts could boost consumer confidence, which is crucial for the property market.
Fortress Real Estate Investments Limited (Fortress) announced its financial results for the year ending 30 June 2024. Despite facing a year characterised by global and local economic challenges, Fortress has exceeded forecasts, highlighting its robust business model and well-executed strategic initiatives.
South Africa's urban landscape is transforming, with mixed-use developments becoming increasingly popular. These integrated spaces, which combine residential, commercial, and recreational facilities, reshape how South Africans live, work, and play. As cities like Johannesburg, Cape Town, and Durban expand, mixed-use developments offer a sustainable solution to urban sprawl, traffic congestion, and the need for more cohesive communities.
Sammar Logistics has occupied its new 37,965m² warehouse on Pocket 2A at Clairwood Logistics Park in Kwa-Zulu Natal. This 15-year lease agreement is underpinned by Sasol South Africa, which identified Clairwood as the ideal location for consolidating its warehousing in the Durban South basin. This is one of the largest logistics deals to be concluded in the region.
Liberty Two Degrees (L2D) made a strategic decision to invest in solar power, which provides a cost-effective, efficient, and environmentally friendly means of generating electricity. L2D's sustainability strategy includes reducing its reliance on the grid, which has improved operating efficiencies.
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