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Real Estate Activities
BY Stephen Timm
South Africa
30 June 2021
R 14 400.00 (ZAR)  
estimated $ 987.71 (USD) *
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Real Estate Activities South Africa


The real estate sector has been significantly affected by the pandemic as listed property shares fell and the commercial property sector was struck by growing vacancies and a decrease in property valuations. While sales in the residential property sector began to increase in late 2020, partly driven by record low interest rates, property transactions declined significantly in 2020, likely due to temporary closure of deeds offices due to the pandemic.


Trends


Low interest rates have seen more first time buyers enter the property market and more people buying second homes. Demand for industrial properties such as warehouse and logistics space is growing as more businesses have begun offering ecommerce and delivery to customers. With loadshedding set to last a number of years, property owners and managers are increasingly looking to install alternative energy sources and energy saving devices.


Offshore Exposure


South African listed and private property companies are investing billions offshore to mitigate poor economic growth locally, rising municipal rates and taxes, political and policy uncertainty, and challenges such as construction site invasions. It is estimated that close to half of the South African listed property sector’s investment earnings come from offshore. Companies have also been involved in the development of retail and other properties on the continent..


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 of the sector and the effects of the lockdown, the performance of listed property companies, corporate actions and regulation affecting the sector. There are profiles of 125 companies including major property groups such as Growthpoint and Hyprop, real estate investment trusts such as Fortress and Heriot, property managers such as JHI and developers such as Renprop and Summercon. There are also profiles of Leisure Resorts and Hotels developers, industrial development zones, property valuers and bond originators, among others.


Page
1. INTRODUCTION 1
2. DESCRIPTION OF THE INDUSTRY 1
2.1. Industry Value Chain 3
2.2. Geographic Position 4
3. SIZE OF THE INDUSTRY 5
4. STATE OF THE INDUSTRY 8
4.1. Local 8
4.1.1. Corporate Actions 24
4.1.2. Regulations 28
4.1.3. Enterprise Development and Social Economic Development 33
4.2. Continental 36
4.3. International 39
5. INFLUENCING FACTORS 41
5.1. Coronavirus 41
5.2. Economic Environment 44
5.3. Government Initiatives 46
5.4. Input Costs 49
5.5. Labour 51
5.6. Technology, Research and Development (R&D) and Innovation 53
5.7. Cyclicality 55
5.8. Crime and Security 56
5.9. Land Expropriation 57
5.10. Environmental and Social Concerns 57
6. COMPETITION 63
6.1. Barriers to Entry 64
7. SWOT ANALYSIS 65
8. OUTLOOK 66
9. INDUSTRY ASSOCIATIONS 66
10. REFERENCES 68
10.1. Publications 68
10.2. Websites 70
APPENDIX 1 72
SA Listed Property Index 72
APPENDIX 2 - SUMMARY OF NOTABLE PLAYERS 73
Commercial Property Investment and Management Companies 73
Property Developers 84
Sustainable Human Settlements (Previously RDP Housing) 90
Development of Leisure Resorts and Hotels 92
Industrial Development Zones 93
Residential Real Estate 94
Property Valuations 96
Bond Origination 97
ORGANOGRAMS 98
Commercial Property Investment and Management Companies 98
Property Developers 105
Sustainable Human Settlements (Previously RDP Housing) 108
Development of Leisure Resorts and Hotels 109
Industrial Development Zones 111
Residential Real Estate 112
Property Valuations 114
Bond Origination 116
COMPANY PROFILES - COMMERCIAL PROPERTY INVESTMENT AND MANAGEMENT COMPANIES 118
ACCELERATE PROPERTY FUND LTD 118
ACSION LTD 121
AFHCO HOLDINGS (PTY) LTD 124
ARROWGEM LTD 127
ARROWHEAD PROPERTIES LTD 130
ATTERBURY MANAGEMENT COMPANY (PTY) LTD 133
BEARE PROPERTIES (PTY) LTD 135
CALGRO M3 HOLDINGS LTD 137
CITY LODGE HOTELS LTD 142
DELTA PROPERTY FUND LTD 149
EMIRA PROPERTY FUND LTD 152
EQUITES PROPERTY FUND LTD 156
ERIS PROPERTY GROUP (PTY) LTD 159
EXEMPLAR REITAIL LTD 164
FAIRVEST PROPERTY HOLDINGS LTD 168
FORTRESS REIT LTD 171
FREE STATE DEVELOPMENT CORPORATION 175
FREEDOM PROPERTY FUND LTD 178
GROWTHPOINT PROPERTIES LTD 181
HAMMERSON PLC 187
HERIOT REIT LTD 190
HYPROP INVESTMENTS LTD 193
INFRAMAX HOLDINGS (PTY) LTD 197
INGENUITY PROPERTY INVESTMENTS LTD 199
INVESTEC PROPERTY FUND LTD 201
LEGACY HOTELS AND RESORTS (PTY) LTD 205
LIBERTY HOLDINGS LTD 209
MONTAGU HOMES (PTY) LTD 214
NU-WAY HOUSING DEVELOPMENTS (PTY) LTD 216
OASIS CRESCENT PROPERTY FUND 218
OCTODEC INVESTMENTS LTD 220
OLD MUTUAL LTD 225
ORION REAL ESTATE LTD 230
PARETO LTD 233
PASSENGER RAIL AGENCY OF SOUTH AFRICA 235
POWER DEVELOPMENT PROJECTS (PTY) LTD 239
PUBLIC INVESTMENT CORPORATION SOC LTD 242
PUTPROP LTD 250
RAVEN PROPERTY GROUP LTD 253
REBOSIS PROPERTY FUND LTD 256
REDEFINE PROPERTIES LTD 259
RESILIENT REIT LTD 264
SA CORPORATE REAL ESTATE LTD 267
SABLE HOLDINGS (PTY) LTD 271
SANLAM LTD 274
SARGAS (PTY) LTD 279
SIRIUS REAL ESTATE LTD 281
STENPROP LTD 286
STOR AGE PROPERTY REIT LTD 289
TEXTON PROPERTY FUND LTD 292
TOURVEST HOLDINGS (PTY) LTD 295
TOWER PROPERTY FUND LTD 300
TRADEHOLD LTD 303
TRUSTGRO DEVELOPMENTS (PTY) LTD 306
VISUAL INTERNATIONAL HOLDINGS LTD 308
VUKILE PROPERTY FUND LTD 311
ZENPROP PROPERTY HOLDINGS (PTY) LTD 314
COMPANY PROFILES – PROPERTY DEVELOPERS 316
ABLAND INVESTMENT HOLDINGS (PTY) LTD 316
ACSION LTD 319
AFHCO HOLDINGS (PTY) LTD 322
ATTERBURY MANAGEMENT COMPANY (PTY) LTD 325
ERIS PROPERTY GROUP (PTY) LTD 327
FREE STATE DEVELOPMENT CORPORATION 332
GROUP FIVE LTD 335
GROWTHPOINT PROPERTIES LTD 338
INGENUITY PROPERTY INVESTMENTS LTD 344
INVESTEC PROPERTY (PTY) LTD 346
KEYSTONE INVESTMENTS (PTY) LTD 350
MONTAGU HOMES (PTY) LTD 352
RABIE PROPERTY GROUP (PTY) LTD 354
RENPROP (PTY) LTD 356
RPP DEVELOPMENTS (PTY) LTD 358
SUMMERCON HOLDCO (PTY) LTD 360
SWISH PROPERTY GROUP (PTY) LTD 362
TCI PROPERTIES (PTY) LTD 364
TONGAAT HULETT DEVELOPMENTS (PTY) LTD 366
VISUAL INTERNATIONAL HOLDINGS LTD 368
WBHO CONSTRUCTION (PTY) LTD 371
WESTBROOK RESIDENTIAL DEVELOPMENT (PTY) LTD 375
ZENPROP PROPERTY HOLDINGS (PTY) LTD 377
ZOTOS BROTHERS (PTY) LTD 379
COMPANY PROFILES – SUSTAINABLE HUMAN SETTLEMENTS (PREVIOUSLY RDP HOUSING) 381
CALGRO M3 HOLDINGS LTD 381
INFRAMAX HOLDINGS (PTY) LTD 386
NU-WAY HOUSING DEVELOPMENTS (PTY) LTD 388
POWER DEVELOPMENT PROJECTS (PTY) LTD 391
TRUSTGRO DEVELOPMENTS (PTY) LTD 394
COMPANY PROFILES – DEVELOPMENT OF LEISURE RESORTS AND HOTELS 396
CITY LODGE HOTELS LTD 396
KAT LEISURE (PTY) LTD 403
LEGACY HOTELS AND RESORTS (PTY) LTD 406
PEERMONT GLOBAL (PTY) LTD 410
SUN INTERNATIONAL LTD 414
TSOGO SUN HOTELS LTD 420
COMPANY PROFILES - INDUSTRIAL DEVELOPMENT ZONES 428
ATLANTIS SPECIAL ECONOMIC ZONE COMPANY SOC LTD 428
COEGA DEVELOPMENT CORPORATION (PTY) LTD 430
EAST LONDON INDUSTRIAL DEVELOPMENT ZONE SOC LTD 435
RICHARDS BAY INDUSTRIAL DEVELOPMENT ZONE COMPANY SOC LTD 438
COMPANY PROFILES – RESIDENTIAL REAL ESTATE 441
AIDA NATIONAL FRANCHISES (PTY) LTD 441
ELECTRONIC REALTY ASSOCIATES (SOUTH AFRICA) (PTY) LTD 445
EVERYBODY WINS REAL ESTATE FRANCHISING (PTY) LTD 448
FIRST REALTY CENTRAL (PTY) LTD 454
FIRZT REALTY (PTY) LTD 460
GEFFEN INTERNATIONAL REALTY FRANCHISES (PTY) LTD 462
JAWITZ PROPERTIES (PTY) LTD 466
JUST PROPERTY GROUP HOLDING (PTY) LTD (THE) 468
LEAPFROG PROPERTY GROUP (PTY) LTD 471
MY AFRICA PROPERTIES (PTY) LTD 474
PAM GOLDING PROPERTIES (PTY) LTD 476
PROPERTY REFERRAL NETWORK (PTY) LTD 479
RAWSON RESIDENTIAL FRANCHISES (PTY) LTD 482
REALTY ONE INTERNATIONAL PROPERTY GROUP (PTY) LTD 484
SEEFF PROPERTY SERVICES (PTY) LTD 487
WAKEFIELDS REAL ESTATE (PTY) LTD 490
COMPANY PROFILES – PROPERTY VALUATION 493
APPRAISAL CORPORATION CC 493
BROLL VALUATION AND ADVISORY SERVICES (PTY) LTD 495
CAPE VALUE (PTY) LTD 497
CORPORATE VALUATIONS CC 499
DDP VALUERS (PTY) LTD 501
ERIS PROPERTY GROUP (PTY) LTD 504
MAGNUS PENNY ASSOCIATES CC 509
MILLS FITCHET (EAST COAST) CC 511
MILLS FITCHET (GAUTENG) CC 513
MILLS FITCHET (KZN) CC 514
MILLS FITCHET (NATAL) (PTY) LTD 516
MILLS FITCHET (PWV) (PTY) LTD 518
MILLS FITCHET AFRICA (PTY) LTD 520
MILLS FITCHET VALUATIONS (PTY) LTD 522
RODE AND ASSOCIATES (PTY) LTD 524
S A APPRAISERS AND VALUERS CC 527
SPECTRUM VALUATIONS AND ASSET SOLUTIONS (PTY) LTD 529
COMPANY PROFILES – BOND ORIGINATION 531
BETTERLIFE GROUP LTD 531
INTELLIGENT DEBT MANAGEMENT (PTY) LTD 533
MULTINET HOME LOANS (PTY) LTD 535
OOBA (PTY) LTD 537