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Real Estate Activities in South Africa
BY Louise Mitchell
South Africa
14 May 2020
R 14 400.00 (ZAR)  
estimated $ 871.99 (USD) *
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Real Estate Activities


The real estate sector’s performance largely depends on economic drivers and has been challenged by slow economic growth during the past few years. The number of companies listed in the JSE’s real estate sectors increased since 2017, but their market capitalisation declined by 64.4% between 2017 and November 2019 as South Africa moved into recession. Between November 2019 and April 2020, property share prices lost 34.2% as the outbreak of the coronavirus severely impacted global and local markets.


Coronavirus


The industrial, commercial and residential property sectors and developments in these sectors have been hard hit by the lockdown following the outbreak of coronavirus, which has resulted in estate agents shutting down as property deals come to a halt, and industrial, commercial and residential tenants unable to pay rent. In some cases they have been given relief in the form of deferred payment holidays, rental discounts and limitations on the possibility of being evicted. With the deeds office and municipalities shut in April, no property transfers were expected to take place, and the backlog may take months to clear. Several listed property companies announced they are postponing or cancelling dividend payments.


Report Coverage


This report focuses on the real estate industry which comprises commercial, industrial and residential properties, as well as property development, property valuation and bond origination. It includes information on the state and size of this sector, performance statistics and corporate actions in the sector. There are profiles of 129 companies including real estate agencies such as Pam Golding, Rawson and Seeff, property funds such as Vukile, Rebosis and Oasis Crescent, developers such as Calgro M3 and Nu-Way and special zones such as the East London Industrial Development Zone and Coega.


Page
1. INTRODUCTION 1
2. DESCRIPTION OF THE INDUSTRY 1
2.1. Industry Value Chain 3
2.2. Geographic Position 3
3. SIZE OF THE INDUSTRY 5
4. STATE OF THE INDUSTRY 8
4.1. Local 8
4.1.1. Corporate Actions 19
4.1.2. Regulations 21
4.1.3. Enterprise Development and Social Economic Development 24
4.2. Continental 27
4.3. International 30
5. INFLUENCING FACTORS 32
5.1. Economic Environment 32
5.2. Government Initiatives 33
5.3. Input Costs 35
5.4. Water and Electricity Supply Constraints 37
5.5. Labour 38
5.6. Technology, Research and Development (R&D) and Innovation 40
5.7. Cyclicality 41
5.8. Crime and Security 41
5.9. Environmental and Social Concerns 42
6. COMPETITION 44
6.1. Barriers to Entry 45
7. SWOT ANALYSIS 45
8. OUTLOOK 46
9. INDUSTRY ASSOCIATIONS 47
10. REFERENCES 49
10.1. Publications 49
10.2. Websites 50
APPENDIX 1 52
SA Listed Property Index 52
APPENDIX 2 - SUMMARY OF NOTABLE PLAYERS 53
Commercial Property Investment and Management Companies 53
Property Developers 64
Sustainable Human Settlements (previously RDP Housing) 69
Development of Leisure Resorts and Hotels 71
Industrial Development Zones 72
Residential Real Estate 73
Property Valuation 75
Bond Origination 76
COMPANY PROFILES - COMMERCIAL PROPERTY INVESTMENT AND MANAGEMENT COMPANIES 78
ACCELERATE PROPERTY FUND LTD 78
ACSION LTD 81
ADRENNA PROPERTY GROUP LTD 84
AFHCO HOLDINGS (PTY) LTD 86
ARROWGEM LTD 89
ARROWHEAD PROPERTIES LTD 92
ASCENSION PROPERTIES LTD 95
ATTERBURY PROPERTY (PTY) LTD 97
BEARE PROPERTIES (PTY) LTD 99
CALGRO M3 HOLDINGS LTD 101
CITY LODGE HOTELS LTD 106
DELTA PROPERTY FUND LTD 113
EMIRA PROPERTY FUND LTD 116
EQUITES PROPERTY FUND LTD 120
ERIS PROPERTY GROUP (PTY) LTD 123
EXEMPLAR REITAIL LTD 128
FAIRVEST PROPERTY HOLDINGS LTD 132
FORTRESS REIT LTD 135
FREE STATE DEVELOPMENT CORPORATION 140
FREEDOM PROPERTY FUND LTD 143
GROWTHPOINT PROPERTIES LTD 146
HAMMERSON PLC 152
HERIOT REIT LTD 155
HYPROP INVESTMENTS LTD 158
INFRAMAX HOLDINGS (PTY) LTD 161
INGENUITY PROPERTY INVESTMENTS LTD 163
INVESTEC PROPERTY FUND LTD 166
LEGACY HOTELS AND RESORTS (PTY) LTD 170
LIBERTY HOLDINGS LTD 175
MBAKO PROPERTY FUND (PTY) LTD 181
MERCHANT AND INDUSTRIAL PROPERTIES LTD 182
MONTAGU HOMES (PTY) LTD 184
NU-WAY HOUSING DEVELOPMENTS (PTY) LTD 186
OASIS CRESCENT PROPERTY FUND 189
OCTODEC INVESTMENTS LTD 191
OLD MUTUAL LTD 196
ORION REAL ESTATE LTD 201
PARETO LTD 203
PASSENGER RAIL AGENCY OF SOUTH AFRICA 206
POWER DEVELOPMENT PROJECTS (PTY) LTD 209
PUBLIC INVESTMENT CORPORATION SOC LTD 212
PUTPROP LTD 220
RAVEN PROPERTY GROUP LTD 223
REBOSIS PROPERTY FUND LTD 227
REDEFINE PROPERTIES LTD 230
RESILIENT REIT LTD 234
SA CORPORATE REAL ESTATE LTD 237
SABLE HOLDINGS (PTY) LTD 241
SANLAM LTD 244
SARGAS (PTY) LTD 250
SIRIUS REAL ESTATE LTD 252
STENPROP LTD 257
STOR AGE PROPERTY REIT LTD 260
TEXTON PROPERTY FUND LTD 263
TOURVEST HOLDINGS (PTY) LTD 266
TOWER PROPERTY FUND LTD 270
TRADEHOLD LTD 273
TRUSTGRO DEVELOPMENTS (PTY) LTD 276
VISUAL INTERNATIONAL HOLDINGS LTD 278
VUKILE PROPERTY FUND LTD 281
ZENPROP PROPERTY HOLDINGS (PTY) LTD 285
COMPANY PROFILES - PROPERTY DEVELOPERS 288
ABLAND (PTY) LTD 288
ACSION LTD 291
AFHCO HOLDINGS (PTY) LTD 294
ATTERBURY PROPERTY (PTY) LTD 297
ERIS PROPERTY GROUP (PTY) LTD 299
FREE STATE DEVELOPMENT CORPORATION 304
GROUP FIVE LTD 307
GROWTHPOINT PROPERTIES LTD 311
HYPROP INVESTMENTS LTD 317
INGENUITY PROPERTY INVESTMENTS LTD 321
INVESTEC PROPERTY (PTY) LTD 324
KEYSTONE INVESTMENTS (PTY) LTD 328
LIBERTY HOLDINGS LTD 330
MONTAGU HOMES (PTY) LTD 336
RABIE PROPERTY GROUP (PTY) LTD 338
RENPROP (PTY) LTD 340
RPP DEVELOPMENTS (PTY) LTD 342
SUMMERCON HOLDCO (PTY) LTD 345
SWISH PROPERTY GROUP (PTY) LTD 347
TCI PROPERTIES (PTY) LTD 348
TONGAAT HULETT DEVELOPMENTS (PTY) LTD 350
VISUAL INTERNATIONAL HOLDINGS LTD 352
WBHO CONSTRUCTION (PTY) LTD 355
WESTBROOK RESIDENTIAL DEVELOPMENT (PTY) LTD 359
ZENPROP PROPERTY HOLDINGS (PTY) LTD 361
ZOTOS BROTHERS (PTY) LTD 364
COMPANY PROFILES - SUSTAINABLE HUMAN SETTLEMENTS (PREVIOUSLY RDP HOUSING) 366
CALGRO M3 HOLDINGS LTD 366
INFRAMAX HOLDINGS (PTY) LTD 371
NU-WAY HOUSING DEVELOPMENTS (PTY) LTD 373
POWER DEVELOPMENT PROJECTS (PTY) LTD 376
TRUSTGRO DEVELOPMENTS (PTY) LTD 379
COMPANY PROFILES - DEVELOPMENT OF LEISURE RESORTS AND HOTELS 381
CITY LODGE HOTELS LTD 381
KAT LEISURE (PTY) LTD 388
LEGACY HOTELS AND RESORTS (PTY) LTD 391
PEERMONT GLOBAL (PTY) LTD 396
SUN INTERNATIONAL LTD 401
TSOGO SUN HOTELS LTD 408
COMPANY PROFILES - INDUSTRIAL DEVELOPMENT ZONES 415
ATLANTIS SPECIAL ECONOMIC ZONE COMPANY SOC LTD 415
COEGA DEVELOPMENT CORPORATION (PTY) LTD 417
EAST LONDON INDUSTRIAL DEVELOPMENT ZONE SOC LTD 422
RICHARDS BAY INDUSTRIAL DEVELOPMENT ZONE COMPANY SOC LTD 424
COMPANY PROFILES – RESIDENTIAL REAL ESTATE 427
AIDA NATIONAL FRANCHISES (PTY) LTD 427
ELECTRONIC REALTY ASSOCIATES (SOUTH AFRICA) (PTY) LTD 431
EVERYBODY WINS REAL ESTATE FRANCHISING (PTY) LTD 435
FIRST REALTY CENTRAL (PTY) LTD 442
FIRZT REALTY (PTY) LTD 448
GEFFEN INTERNATIONAL REALTY FRANCHISES (PTY) LTD 450
JAWITZ PROPERTIES (PTY) LTD 454
JUST PROPERTY GROUP HOLDING (PTY) LTD (THE) 456
LEAPFROG PROPERTY GROUP (PTY) LTD 459
MY AFRICA PROPERTIES (PTY) LTD 462
PAM GOLDING PROPERTIES (PTY) LTD 464
PROPERTY REFERRAL NETWORK (PTY) LTD 466
RAWSON RESIDENTIAL FRANCHISES (PTY) LTD 469
REALTY ONE INTERNATIONAL PROPERTY GROUP (PTY) LTD 470
SEEFF PROPERTY SERVICES (PTY) LTD 473
WAKEFIELDS REAL ESTATE (PTY) LTD 476
COMPANY PROFILES – PROPERTY VALUATION 479
APPRAISAL CORPORATION CC 479
BROLL VALUATION AND ADVISORY SERVICES (PTY) LTD 481
CAPE VALUE (PTY) LTD 483
CORPORATE VALUATIONS CC 485
DDP VALUERS (PTY) LTD 487
ERIS PROPERTY GROUP (PTY) LTD 490
MAGNUS PENNY ASSOCIATES CC 495
MILLS FITCHET (EAST COAST) CC 497
MILLS FITCHET (GAUTENG) CC 499
MILLS FITCHET (KZN) CC 500
MILLS FITCHET (NATAL) (PTY) LTD 502
MILLS FITCHET (PWV) (PTY) LTD 504
MILLS FITCHET AFRICA (PTY) LTD 506
MILLS FITCHET VALUATIONS (PTY) LTD 508
RODE AND ASSOCIATES (PTY) LTD 510
S A APPRAISERS AND VALUERS CC 513
SPECTRUM VALUATIONS AND ASSET SOLUTIONS (PTY) LTD 515
COMPANY PROFILES – BOND ORIGINATION 517
BETTERLIFE GROUP LTD 517
INTELLIGENT DEBT MANAGEMENT (PTY) LTD 519
MULTINET HOME LOANS (PTY) LTD 521
OOBA (PTY) LTD 523