News

A new national commercial property leasing business has emerged as a result of sector consolidation...

Building work has commenced on the first 11 office blocks of The Estuaries, a new office park in Century City in the Western Cape. By Elma Kloppers...

Protea Hotels has announced a new R60m business hotel in Bloemfontein, set to open in April 2008. Construction on the Protea Hotel Willow Lake is scheduled for late May, and will see a new 94-bedroomed hotel design...

Construction is about to get under way on the new R300m Greenstone Hill Office Park development in Modderfontein...

Hotel operators and financiers have shied away from the Johannesburg hospitality market over the past seven years following the development frenzy of the late Nineties. Back then, in less than four years, the number of hotel rooms in Johannesburg's northern suburbs more than doubled, placing huge pressure on room occupancies and revenues. However, it seems that hoteliers are ready to start backing Johannesburg again. By Joan Muller...

Langebaan will soon see the establishment of a new office complex sitting on 670 sq m of lettable office space. The site is on the corner of Oostewal and Sleigh Streets, which used to be a single-storey guest house...

The Rezidor Hotel Group, one of the fastest growing hotel companies in the world, is set to open two new Radisson Hotels in South Africa next year – one in the heart of Sandton's upmarket business district and the other in Port Elizabeth's busy beachfront area...

A national property management company has won three new contracts to manage office blocks in the past few months...

Construction has begun on a new R68m Sun International hotel, adjoining the Golden Valley Casino site, in Worcester in the Western Cape...

Anne Porter Knight Frank are experiencing an unprecedented demand for homes that can be converted into guesthouses or B & Bs or existing facilities of this type...

uShaka Marine World's (uShaka) chief operating officer, Bongani Xaba, announced today that uShaka Village Walk, the retail component of the marine park, recently signed lease extensions worth R8,3m, pushing the occupancy of the shopping mall to 95%. The value of new leases over the next ten years amounts to R51,5m. This is the first time the leases have been renewed since the marine park opened three years ago...

International hotels company InterContinental Hotels Group is to open four Express by Holiday Inn properties in South Africa, with the first expected later this year in Cape Town with a 161 room capacity. I-Net Bridge...

Five hundred permanent jobs have been created through the opening of the R86 million Hubyeni Shopping Centre at Elim, a town 13km southeast of Makhado (Louis Trichardt) in Limpopo...

According to John Loos, property economist for FNB's Commercial Property Finance division, retail purchasing power in townships does not pose a threat to CBD rejuvenation. By Kara Michaels...

Investors and operators in the hotel industry have seen a marked increase in occupancies and income in 2006, no doubt prompting more developers and operators overseas to set their sights on South Africa. By Joan Muller...

In Tyger Valley, a decentralised region in the Western Cape, office leasing is experiencing growth due to a low vacancy rate. By Carin Smith...

SA Corporate Real Estate Fund is proposing to add Cullinan Jewel Shopping Centre, a recently upgraded neighbourhood complex in Cullinan, 50 km east of Pretoria, to its current portfolio...

Despite interest rate hikes, developers continue to bank on the South African consumer's unwavering pursuit of retail therapy. Neil Cloete, managing director of Grinaker-LTA's building business unit, says that based on the firm's current order book, the retail boom shows no sign of abating...

Port Elizabeth's first five-star hotel, which will be operated by the internationally-acclaimed Rezidor Hotel Group, will open the doors of its 173 luxury suites to guests in December 2008. By Ingrid Smit...

There's no denying that commercial property as a sector has had an impressive run over the past three years, with total average returns of 27%/year - a far cry from the paltry 9% to 11% that investors had to be satisfied with between 2000 and 2002. By Joan Muller...