Friday, 13 December 2013 15:02

Sandton property development continues

Commercial real estate investors and developers continue to pour billions into the Sandton CBD.

Growthpoint Properties has acquired a strategic site in Blackheath, Cape Town for a quality, tenant-tailored industrial property development.

Listed property sector should be able to perform better next year than it did this year, even with the threat of interest rates rising.

Hard lobbying by the SA Property Owners' Association (SAPOA) to drive the appointment of a Services Appeal Tribunal in Mpumalanga province has paid off, with official word received this week that the Board will be in place by the end of this month.

Concerns surrounding the communication and relationship between the public and private sector are diminishing as both parties are becoming more actively involved with one another, engaging in meaningful dialogue and working together on improving business and infrastructure in South Africa.

Simultaneous increases in the Rates Factor and property valuations resulted in municipal rates levied on commercial property owner’s rocket in July this year. 

According to Dave Russell, a director of Baker Street Properties, the subdued economic climate continues to affect the office leasing market, with limited demand for new offices this quarter. 

In advance of the introduction of the Department of Justice's proposed Court Annexed Mediation Scheme in South Africa, the Royal Institution of Chartered Surveyors (RICS) has spent the past two years developing a Southern African panel of expert built environment practitioners.

The South African Property Owners Association (SAPOA) and the City of Cape Town will work to unlock opportunities by facilitating collaboration between the public and private sector.

After 18 months and much negotiation between the City of Johannesburg and property owners, SAPOA has decided to withdraw its appeal against the Johannesburg Consolidated Town Planning Scheme 2011.

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