Protea Hotels will invest about R627m developing two hotels in Uganda, says group.

Iconic new urban development, Melrose Arch, has become the new home of some of South Africa’s top legal minds.

Hospitality Property Fund Limited, the JSE-listed Real Estate Investment Trust (“REIT”) today announced that it has signed an agreement to acquire 10 hotel properties, valued at almost R1.8 billion, from Southern Sun Hotels Proprietary Limited, a wholly owned subsidiary of Tsogo Sun Holdings Limited.

Sun City still ranks as one of the best holiday destinations amongst South Africans, with the resort receiving yet another award for Best Holiday Resort, this time as voted for by the readers of Pretoria News. 

Tsogo Sun is still betting big on a consumer spending upturn, investing R1bn on revamping its properties.

The 273 room Park Inn Sandton hotel has been sold by way of Private Tender by JLL South Africa, realising a sale price of R265 million, 15% more than the vendor’s expectations.

Work is now underway in earnest at Sun International’s latest project – a major development in Pretoria’s eastern suburbs.

Sun International’s legendary Sun City in the North West Province is in the throes of an R800-million refurbishment to revitalise its iconic appeal and ensure that it retains its rightful place as South Africa’s entertainment mecca and one of the most exciting leisure destinations in the world.

Pepperclub Hotel & Spa, a five star hotel based in the heart of Cape Town, was awarded the title of Africa’s Luxury City Hotel at the 2015 World Luxury Hotel and Spa Awards ceremony held recently in Hong Kong.

Investors looking for exposure to UK real estate have two more options to choose from after the listing of Redefine International spin-off International Hotel Group and mall owner Capital & Regional.