LOGIN

The inner cities of Cape Town and Johannesburg are confident that the worst of times have passed and the best of times are yet to come. But that is where most of the similarity ends.

Group Five Building, the construction arm of the listed broad-based infrastructure company, has been awarded five construction and renovation contracts to the value of R323.4 million.

Paul Le Sueur, the managing director of Group Five Building, said yesterday the contracts would be undertaken over the next 15 months in Johannesburg and Cape Town.

The projects involve the construction of a R14.3 million Honda South Africa head office and warehouse in Midrand; a R34.1 million head office for 3M South Africa in Woodmead in Sandton; the R30 million refurbishment of an office building at 90 Rivonia Road, opposite Sandton City, on behalf of Standard Bank Properties; the R75 million extension and refurbishment of the Discovery Health building in Sandton; and the R170 million construction of the Lagoon Beach Hotel and apartment complex comprising 292 units in Milnerton Beach in the Western Cape.  

Le Sueur said the new Honda South Africa head office and warehouse contract was started in August and would be completed by the end of this year.

The 3M South Africa head office contract also started in August but would only be completed in March.

The refurbishment and restoration of 90 Rivonia Road, which comprises offices spread over six floors with an area of 10 000m2, started at the beginning of last month and would be completed at the end of January.

The contract for extension and refurbishment of the Discovery Health building started last month and would be completed in October.

Le Sueur said Group Five Building started with the Lagoon Beach project in September and it would be completed by the end of next year.

Group Five stock closed 5c lower to end at R7.55 on the JSE Securities Exchange yesterday.

Developers, town planners favour move, but land affairs ministry yet to respond

This applies to all race groups

The Estate Agency Affairs Board was receiving "a flood" of claims against its fidelity fund from ex-clients of Yellow Button Property Management (Johannesburg), a former subsidiary of listed property company Jigsaw, it has confirmed.

Commercial property owners are alarmed at the increasing cost of keeping their occupants and visitors safe.

Johannesburg - Nedbank had increased its stake in the Commercial Bank of Namibia for R229 million, the retail banking arm of Nedcor said yesterday.

Johannesburg - MTN Airborn, a division of MTN Group, has developed a strategy to exploit the desperate need for the internet on the African continent.

Johannesburg manages its way to a balanced budget and more efficient services

Study urges government to increase efforts to protect catchment areas for the benefit of people and nature