Author: Lauren

Sub-Saharan Africa as a business investment

While real estate occupiers and investors have been accustomed to high growth rates above global averages, economic and political headwinds could signal change in 2017. “It is often in the diversity and complexity of a situation that the solution is to be found. Faced with potentially turbulent times, the journey will not be easy. But if the correct direction is charted, Africa will remain a continent of diverse opportunity,” says Malcolm Horne, group CEO of leading commercial property services company Broll Property Group. “Sub-Saharan Africa will need to be able to deal with the dynamic of having its average...

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10 Wealthiest African Cities

AfrAsia Bank and New World Wealth reviewed the 10 wealthiest cities in Africa by “total wealth”, referring to the private wealth held by individuals in each city. It includes property, cash, equities and business interests, less any liabilities. 1. JOHANNESBURG Total wealth held of $245bn. Home to 18,200 millionaires, 970 multimillionaires and two billionaires. Major sectors: financial services, professional services, construction and telecoms. 2. CAIRO Total wealth held of $140bn. Home to 8,900 millionaires, 480 multimillionaires and five billionaires. Major sectors: real estate and construction, financial services and basic materials.  3. CAPE TOWN Total wealth held of $135bn. Home...

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The Private Property takeover bid by P24 will not proceed

“Private Property has announced the conclusion of a deal which will see a change in ownership from the existing shareholder, OAM, to a consortium of committed South African buyers, including listed media giant Caxton.” Along with Caxton, the other buyers include industry participants with a deep understanding of the market. The deal is subject to Competition Commission approval and is expected be finalised by the end of October 2017. The proposed takeover bid by Property24 parent company Naspers will not proceed. The new deal was concluded with the assistance of the industry body, Real Estate Business Owners of South...

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Repo rates remain the same

The Monetary Policy Committee has decided to keep the repo rates at their current levels, according to South African Reserve Bank governor Lesetja Kganyago. This follows the Reserve Bank’s previous decision in July to cut the rates by 25 basis points. Currently, the repo rate is at 6.75%, with the prime lending rate at 10.25%. The decision to retain the repo rate is disappointing for the economy and property market, says Samuel Seeff, chairman of the Seeff Property Group. At a time of poor business confidence and weak economic growth marred by political instability, a further rate cut would...

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Ask the expert: Safety Features

Good security is an asset in any home and can add value to your clients’ property. Trellidor platinum sales consultant Steven Matthews offers pointers. FIT PRODUCTS INSIDE Security products inside a door or window are a far greater deterrent against burglars. Once intruders have broken a window or door, the four golden elements they need – time, tools, noise and privacy – are compromised by the slower process of breaking through bars or gates. BETTER-LOOKING PRODUCTS More attractive security products include aluminium security shutters, barely visible polycarbonate bars, see-through stainless steel protective screens and roller-style doors. SECURE STAIRCASES Retractable,...

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