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Asset Commercial Club contributor Rael Levitt, writes in the May issue, that a thriving real estate market benefits all brokers, but their success is complex and fluctuates with economic conditions. During booms, brokers thrive, but during downturns, they face reduced fees and client challenges. Legal and regulatory pressures, particularly in the U.S. and South Africa, add to their difficulties. Additionally, technological disruptions threaten traditional roles. The industry's future hinges on brokers' adaptability to regulatory and technological changes, which will redefine their profession globally. Click here to read or listen to Rael's story - https://lnkd.in/dfe_wbzF Support Asset, the publication committed to promoting our property sector.

Before 2022, the South Coast of KwaZulu Natal was neglected and in disrepair, deterring visitors and causing tourism to decline. Now the area is seeing a rise in property values and tourism, thanks to the Tidy Towns initiative. Stephen Herbst from Tidy Towns Shelley Beach to Margate credits the volunteers following this blueprint for revitalizing the South Coast communities. Read or listen to this story in the May issue of Asset - https://lnkd.in/drSvPyVs Support Asset, the publication dedicated to bolstering our property sector.

With a focus on being part of South Africa’s water, transport and energy solutions, Enza Civils in conversation with Asset, discussed its future long-term prospects. Leading the discussion, Coen Naicker, Divisional Director at Enza Construction, gave a positive overview of the civil engineering industry and introduced Civils Contracts Directors Riaz Cassoojee, Ian Ferguson, and the newest member of the civils team John Hopewell. Read or listen to this story right here - https://lnkd.in/dJ99ekdC ENZA CONSTRUCTION Support Asset, the publication dedicated to bolstering our property sector.

Concor moves into highly technical phases at Msikaba Construction at the iconic Msikaba Bridge in the Eastern Cape is moving up a gear, with challenging technical activities to be tackled this year. According to contractor Concor Construction (Pty) Ltd, these include post-tensioning the anchor blocks, installing pylon inserts and building the ladder deck. The Msikaba Bridge forms part of the South African National Roads Agency Limited’s (SANRAL) N2 Wild Coast project and is being constructed by the CME JV, a partnership between Concor and MECSA, both 100% black owned Grade 9CE South African construction companies. “The last two years have been spent completing the four 21,000 t anchor blocks and progressing the elegant bridge pylons on each side of the gorge,” explains Concor’s Laurence Savage, Project Director of this pioneering structure. “We are now entering some exciting but technically challenging phases.” The first of these is the post-stressing of the anchor blocks, to ensure the transfer of load exerted by the stay cables is well distributed through the blocks. Embedded 14 metres deep into each block, the post-stressing is profiled as a large ‘U’ shape to mobilise the dead mass of the anchor block being pulled up by the stay cable at the top. He highlights that the post-stressing option is a modern and efficient strategy that reduces the need for reinforcement steel – which could have congested the blocks and made it difficult for the concrete to fill all the voids. The locally procured post tensioning strand cables at each of the 17 anchor points in each block are stressed up to around 500 t by a specialist company. The process is expected to take two to three weeks for each anchor point. “The next major step will be installing pylon inserts into the pylon’s structure as it rises above the 86 metre mark,” he says. “There are 17 inserts for each pylon; these are steel rings weighing 8 to 10 t each, which are concreted into place one after the other until the pylon reaches a height of about 122 metres.” The pylon inserts are used as the anchors from which the cables run as back-stays to the anchor blocks, and as fore-stays to the bridge deck. However, Savage notes that not all the inserts have to be in place before the launching of the deck can begin. Careful planning will allow the deck launching – itself a highly technical task – to commence after the first five inserts are installed, which is likely to be in the second half of 2024. Another demanding aspect of the bridge’s latest phase will be the construction of the ladder deck. Being the first steel deck segment of the bridge, the ladder deck is to be cast in concrete into the foundation of the pylon and will be the largest continuous pour on site. “We will cast 700 m3 of concrete in a single pour, with a very strong 65 MPa mix,” he says. “This will also demand a high density of reinforcement steel, weighing 160 t.”

Fedgroup has revolutionised South Africa's commercial property financing by extending approximately R1 billion to affordable housing developer Alleyroads. This deal underscores Fedgroup's credibility and innovation, setting a new industry benchmark for partnerships and entrepreneurial support. Asset interviews Jason Green, Fedgroup's GM of Property, and Ivan Pretorius, Alleyroads' Founder and COO, about the vision behind this landmark agreement. Find out more in the May issue of Asset - https://lnkd.in/dBsR8eMc Alleyroads Group and Subsidiaries #propertyfinance #financialservices #financialsolutions #financemodels #buildingpartnerships #lendinginstitutions Support Asset, the publication dedicated to bolstering our property sector.

Alley Roads’ Riverstone Mall Kick-starts R600 Million Development in Meyerton Alley Roads, a prominent affordable housing developer, has started the construction of Riverstone Mall, its first retail development. Located between Johannesburg and the Vaal Triangle, the mall features a gross lettable area (GLA) of 18,000m². Key tenants include Checkers FreshX, Woolworths Food, and Dischem. This project is part of a significant R600 million investment in Meyerton, including the development of 337 adjacent apartments. The second phase of the mall will add 3,000m² of motor-related retail space. Alley Roads plans to roll out its 175,000m² retail development pipeline over the next seven years, focusing on underserved areas in Gauteng, North West, Free State, and the Western Cape. These developments will prioritize essential services and non-discretionary retail, with malls ranging from 6,000m² to 12,000m². RMB - Rand Merchant Bank is financing the R370 million mall, scheduled to open in early 2025. Barry Chapman, CEO of Alley Roads, highlighted that Riverstone Mall is part of the company’s strategy to create thriving communities through affordable housing and retail developments. Market studies indicate Meyerton’s growth at 2%-3% annually, positioning it as a key player in the R59 development corridor. Chapman emphasized the strategic advantage of integrating housing with retail, noting the upcoming residential project adjacent to the mall, which will include 337 units. The overall investment in Meyerton is set to exceed R600 million. During construction, the project will generate 1,200 jobs, with 250 permanent positions upon completion. The mall will host 53 retail tenants, including major retailers such as Clicks, Truworths, Mr Price, and the Pepkor Group. It will provide 1,000 parking bays, a food court, and two fast-food drive-thru outlets. A 1908Kva solar plant with a 4800Kwh battery backup will ensure continuous operation during loadshedding. Alley Roads' future developments will primarily be in Gauteng, with additional projects in the North West, Free State, and Western Cape. These retail centres will serve rural and peri-urban communities, focusing on delivering essential goods and services. RMB’s Senior Transactor, Loyiso Daka, remarked on the high demand for quality retail in previously underserved areas, noting that such malls are vital for providing necessary goods, services, and infrastructure. He highlighted the stability and predictability of cash flows from these centres, especially during economic downturns like the Covid lockdowns. As South Africa continues to develop, Daka sees significant growth potential in asset classes addressing core infrastructure needs, such as township retail, affordable housing, student accommodation, and logistics. The demand for these assets is expected to outstrip supply for the foreseeable future. Alleyroads Group and Subsidiaries Photos: Barry Chapman, CEO of Alley Roads, and renders.

Adams & Adams has built a strong reputation in conveyancing over the past three decades. Their Real Estate and Property Law division has experienced significant growth, drawing notable clients from the industry and has earned recognition from Legal 500. Asset interviewed partner Helgard Janse van Rensburg and associate attorney Micaela Da Silva to learn more. Read or listen to this story right here - https://lnkd.in/dnPreZPq #conveyancing #lawfirm #propertylaw #realestate #commercialrealestate #townplanning #transactions #competitionlaw #mentorship #branding Support Asset, the publication dedicated to bolstering our property sector.

The May issue of Asset has just been published. For the past 45 years, SIP Project Managers has served as a trailblazer in its industry, with its leading figures driving innovation and setting high professional standards. As the senior members of the team prepare for transition, they leave behind a legacy of strong foundations and support for the upcoming generation of leaders who will steer the firm into the future. SIP's directors recently shared with Asset both the company's history and its forward-looking vision for this month's cover story Read or listen to the story right here - https://lnkd.in/drZcxcen SIP Project Managers (PTY) LTD Support Asset, the publication dedicated to bolstering our property sector.

Centurion's skyline is on the brink of transformation with the imminent rise of Building E at Westend Office Park, promising to elevate the city's business landscape. Positioned strategically on the outskirts of Centurion CBD, this new A-Grade office building is poised to bring significant advantages to the area. Strategic Location Building E boasts a prime location within walking distance of the Centurion Gautrain Station, a crucial draw for businesses seeking to attract top talent regionally and nationally. Its direct exposure to the N14 freeway and the nearby Gautrain route ensures unparalleled visibility, making it an ideal choice for businesses aiming to make a prominent statement. Elevated Standards Joining the prestigious Westend Office Park, which is already home to notable companies like Sanlam, PSG, and Old Mutual, Building E signifies a leap towards higher office space standards. With an impressive size of 5,000m2 Gross Lettable Area (GLA) and a flexible design tailored to modern business needs, it promises to set new benchmarks in office accommodation. Community Impact Beyond its commercial significance, Building E brings substantial benefits to the community. The construction phase alone is expected to generate around 400 jobs, providing a significant boost to the local economy. With an estimated 56% of the office's workers using public transport, the development aligns with sustainable commuting trends, reducing traffic congestion and environmental impact. Ignite Urban Management manages the precinct to improve safety and security and ensure optimum use of common spaces. Amenities and Sustainability Building E prioritizes user comfort and sustainability. From spacious reception areas to rooftop entertainment zones and ample parking, every aspect is designed with convenience in mind. Backup power and water systems ensure uninterrupted operations, crucial for businesses operating in today's environment. Looking Ahead The completion of Building E on October 1, 2024, marks a milestone in Centurion's business landscape, fostering further growth and innovation. It is poised to attract new businesses and talent while enhancing the overall vibrancy of the area. Partnerships for Progress Collaboration between Centurion Investments, Moolman Group, Abcon Group, and other stakeholders underscores a collective commitment to regional development. Initiatives like the private sector-led public space regeneration partnership demonstrate a holistic approach to urban planning, focusing on safety, accessibility, and community well-being. Westend Office Park represents more than a new structure; it symbolizes progress, opportunity, and a shared vision for a thriving Centurion. As construction advances and anticipation builds, Centurion's business landscape is set for a transformative shift, establishing new standards of excellence in office spaces and community engagement. For more information, visit https://lnkd.in/d4HpmVYh

Dipula Income Fund Ltd (DIB) achieved strong first-half results for the six months ending February 29, 2024, marked by improved operational and financial metrics alongside strategic progress in launching its solar photovoltaic initiative. Dipula, a leading South African REIT, manages a diverse R9.8 billion portfolio of 166 retail, office, industrial, and residential assets nationwide. The majority of its income (64%) stems from convenience, rural, and township retail centers, with 61% generated in Gauteng. CEO Izak Petersen praised the results, noting, “Dipula delivered top-line growth amidst challenging economic conditions marked by elevated inflation, peak interest rates, and double-digit electricity tariff hikes.” Revenue increased by 9%, and net property income rose by 6%, driven by efficient operations and rental growth. Despite pressure on rental income due to tough market conditions, Dipula achieved a 2% increase. The growth in net income was supported by disciplined expense management, with expenses rising modestly relative to inflation. Dipula's net asset value climbed by 2% to R6bn. However, higher interest rates led to a 3% decrease in interim distributable earnings per share. The company declared dividends amounting to 90% of distributable earnings. During the period, Dipula secured R105m in new leases and R845m in renewals, maintaining an impressive tenant retention rate of 89%. The company strategically extended its office real estate lease expiry profile from 1.5 years to three years. Vacancies improved from 10% to 8%, with reductions seen across retail (9% to 6%), office (27% to 23%), and industrial (5%). The residential portfolio, comprising 716 units, had an average vacancy rate of 6% and recorded rental growth between 2% and 8%. Dipula is investing R50m in its solar rollout, aiming to increase its solar power capacity from 1.6kWp to 7kWp by August 2024 and plans further expansion thereafter. The company's balance sheet remains robust, with stable debt levels of R3.7bn and a hedged position of 61%. Gearing decreased to a healthy 36.3% from 36.9%. Looking ahead, Dipula anticipates stable performance for the remainder of the financial year, with improved results in 2025 as capital projects conclude. Petersen emphasized, “A reduction in interest rates would enhance performance. Our rentals have potential for improvement and will benefit from an improving trading environment. Dipula remains committed to driving stakeholder value through prudent capital allocation, maintaining a strong balance sheet, and reducing vacancies.” In summary, Dipula's first-half results reflect resilience amidst challenging market conditions. The company's strategic initiatives, including its solar project and lease extension strategy, position it well for future growth and value creation. Photo: Izak Petersen, CEO of Dipula