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A new development of 16 300 square metres of premium grade offices, which will include new regional offices for Discovery, is to be built on a prime gateway site at Century City.
The listed property sector has managed to outperform other equities but has been outdone by bonds during 2016 so far.
Rabie Property Group’s R1billion mixed use Century City Square development is on track for completion by February 2016.
Transformation of former retail space set to launch 'Northgate Park' as a trendy office redevelopment.
Trendy US youth fashion brand, Forever21, will open its first store on the African continent on Saturday 13 September 2014 in Hyprop's leading super-regional mall, Canal Walk.
New shopping centres: are we building too big too soon?
Century City is undergoing a R4.3bn development boom, which will expand the live, work, stay, shop and play hub by 25%.
Smaller property funds are finding it difficult to compete in making acquisitions because of the increased cost of funding, this makes them targets for takeover by larger rivals.
Soaring demand for hotel accommodation in Century City in recent years has increased the average annual occupancy to 73% necessitating additional hotel rooms be brought on stream, says Greg Deans, a director of Rabie Property Group, the developers of Century City.
Hyprop Investments' share price falls 4% over the past week‚ creating what some believe is a temporary buying opportunity for investors keen to share in the spoils of SA's largest shopping centres and the burgeoning consumer markets of Ghana and Zambia.