Tower Property’s vacancies decrease amid improving consumer, business sentiment

An improvement in South African consumer and business sentiment in early 2018 contributed to real estate investment trust (Reit) Tower Property Fund’s vacancies reducing to 5% at the end of its financial year to May 31, after having reached a high of 12% in January. However, in order to secure new tenancies, Tower has had to offer lower-than-anticipated rentals and longer beneficial occupation periods, dubbing it “a clear sign of the times”.

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Nacala corridor transaction reaffirms ‘Africa open for business’

Owing to a consortium of three export credit agencies (ECAs), the African Development Bank (AfDB) and a lending consortium of six international and four South African banks, a collaboration on funding for the revamp and extension of the Nacala Logistics Corridor has successfully raised $2.73-billion of the $5.15-billion needed for the project. Owing to the revamp and extension of the Nacala Logistics Corridor, the Moatize coal mine, in Mozambique, is now able to export greater volumes of the commodity to global customers.

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Specialist team to get the ball rolling for housing opportunities in Cape Town

A resolution passed by City of Cape Town council earlier this week is expected to get the ball rolling in expediting housing opportunities across the city. According to a statement by the City of Cape Town, the city’s Transport and Urban Development Authority (TDA) will now conclude the four contracts for the appointment of multi-disciplinary teams tasked with overseeing the successful implementation of housing developments. “These teams – one for each of the City’s four areas – will consist of …

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Chinese investors plan $10bn metallurgical complex in South Africa

Chinese investors signed agreements to build a $10-billion metallurgical complex in South Africa during President Xi Jinping’s state visit this week and hope to start construction next year, an executive involved in the project and a provincial official told Reuters. South Africa’s President Cyril Ramaphosa said at a joint news conference with Xi on Tuesday that China had committed to invest $14.7-billion in the South African economy, but neither leader mentioned the $10-billion complex.

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UK-born idea could improve ventilation, cooling in African city buildings

An idea to retrofit existing buildings in African cities with three-dimensional (3D) printed porous insulation panels to improve liveability and reduce energy consumption for cooling and ventilation has been named the African winner of the Cities for our Future competition run by the Royal Institution of Chartered Surveyors (RICS).

The idea is now on the global shortlist of 12 ideas, narrowed down from 1 200 entries, with the overall winner to be announced in November.

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Pretoria hotel adds 86 rooms, restaurant, conference facilities

Protea Hotels by Marriott Pretoria Hatfield this week opened an additional wing with 86 rooms and enhanced facilities, following the completion of a major construction project that started in mid-2017.

This is in line with Pretoria’s growth in demand for quality accommodation that Protea Hotels by Marriot parent company Marriott has seen, says Marriott International Middle East and Africa VP Volker Heiden.

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LafargeHolcim restructuring, Africa troubles dent H1 profit

LafargeHolcim first half profit fell 43%, the company said on Friday, as the world’s largest cement took 300-million Swiss francs ($301.81-million) in restructuring costs from its overhaul under Chief Executive Jan Jenisch. The Zurich company said first-half net profit tumbled to 371-million Swiss francs ($373.24-million), from 651-million francs a year earlier.

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Company invites clients to test its products

Construction materials industry chemical solutions provider Chryso Southern Africa, states that it has a range of solutions to meet the plethora of different demands the readymix sector faces for all concrete applications. Chryso welcomes all concrete industry professionals to engage with its representatives and test its various readymix solutions at this year’s Concrete Conference due to take place on August 1 and 2 at the Birchwood Hotel and OR Tambo Conference Centre, in Boksburg.  

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More than 300 delegates expected

The Southern Africa Readymix Association (Sarma), The Concrete Institute (TCI), the Concrete Society of Southern Africa (CSSA) and the Concrete Manufacturers Association (CMA) are looking forward to hosting more than 300 delegates at this year’s The Concrete Conference (TCC), which will take place on August 1 and 2 at the Birchwood Hotel and OR Tambo Conference Centre, in Boksburg. Themed The Future is Concrete, the event is sponsored by construction materials companies AfriSam, Chryso, PPC, Sephaku Cement and KonkreteGlobal.

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Competitive prices key in eliminating counterfeit parts

Although Africa is a brand-conscious continent the majority of consumers seek cheaper prices, and the automotive industry needs competitive aftermarket prices to deal with the challenges posed by counterfeit goods, says intellectual property law firm Spoor & Fisher anti-counterfeiting department partner Paul Ramara. “There are many automotive parts and aftermarket items that are counterfeit, including bearings, brakes, clutch kits, spark plugs and even motor oils that span across all manufacturers.”

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