The inner cities of Cape Town and Johannesburg are confident that the worst of times have passed and the best of times are yet to come. But that is where most of the similarity ends.

Claremont landmark goes to property fund for R52.5m

Group Five Building, the construction arm of the listed broad-based infrastructure company, has been awarded five construction and renovation contracts to the value of R323.4 million.

Paul Le Sueur, the managing director of Group Five Building, said yesterday the contracts would be undertaken over the next 15 months in Johannesburg and Cape Town.

The projects involve the construction of a R14.3 million Honda South Africa head office and warehouse in Midrand; a R34.1 million head office for 3M South Africa in Woodmead in Sandton; the R30 million refurbishment of an office building at 90 Rivonia Road, opposite Sandton City, on behalf of Standard Bank Properties; the R75 million extension and refurbishment of the Discovery Health building in Sandton; and the R170 million construction of the Lagoon Beach Hotel and apartment complex comprising 292 units in Milnerton Beach in the Western Cape.  

Le Sueur said the new Honda South Africa head office and warehouse contract was started in August and would be completed by the end of this year.

The 3M South Africa head office contract also started in August but would only be completed in March.

The refurbishment and restoration of 90 Rivonia Road, which comprises offices spread over six floors with an area of 10 000m2, started at the beginning of last month and would be completed at the end of January.

The contract for extension and refurbishment of the Discovery Health building started last month and would be completed in October.

Le Sueur said Group Five Building started with the Lagoon Beach project in September and it would be completed by the end of next year.

Group Five stock closed 5c lower to end at R7.55 on the JSE Securities Exchange yesterday.

The Cape Town Regional Chamber of Commerce and Industry has written to the Minster of Environmental Affairs and Tourism to register its strong objections to plans to turn sections of the N1 and N2 into toll roads

Large contracts in this arena

Interview with Derek Greenberg

Capetonians may have the chance to opt for "green" electricity within a year, although they will have to pay a premium for the product, says city

Growthpoint Properties has acquired the Investec Sandton head office at 100 Grayston Drive and Investec's Cape Town foreshore building, as well as the use of 580 parking bays at Merchant Place Parkade, for a total consideration of R975 million.

Cape Town CBD Launch

This applies to all race groups