Wednesday, 03 April 2019 13:32

An ever-evolving retail property market

Competition in South Africa’s retail market is intense, with more than 25 million square metres of formal retail space currently, in excess of 2,000 existing shopping centres and close to three million square metres of formal retail space in the pipeline.

Whether it be a commercial or residential property sale, every owner begins the anxious countdown to the months it takes to transfer the property to the new buyer and subsequently receive payment of their proceeds.

Labour issues, late payment and slow growth ‘catastrophic’ for the sector, says Master Builders’ Association North.

The results of Consulting Engineers South Africa's (CESA) Bi-annual Economic and Capacity Survey for the period January to June 2018 recently released indicates positive news, that the construction sector has seen growth for the first time in six quarters. 

Emira Property Fund is selling a sizeable R1.8bn portfolio of 25 office assets to a new majority black-owned entity, specially setup for this purpose.

The Master Builders Association (MBA) North says that the continuing trend of main contractors delaying payment of their sub-contractors – or defaulting altogether – is a symptom of the deteriorating health of the construction industry.

Attacq Ltd, the JSE listed property company developing Waterfall City and Waterfall Logistics Hub, categorically refutes City of Johannesburg (CoJ) allegations in relation to illegal water connections at some of the properties under its management in Waterfall City.

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