The level of both office and industrial supply should remain robust going forward. Naturally this forecast remains strongly reliant on ‘feasibility factors’ such as available land/or redevelopment opportunities and real rental growth, playing ball.
Total annual commercial planning activity across SA is up 9.7% on 2005, with actual completions up a moderate 1.45%. From a plans passed perspective, the strongest sector remains industrial at 35% annual growth, followed by offices at 24%, with retail down by 32%. Office completions still remain significantly down on 2005 having come down by 44%; with industrial up by 4% and retail completions up a hefty 66%.
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