A case of an alleged forced distressed sale flagged in an Allan Greyling forensic report involves a company called Zwelinzima Property Developers.

The Johannesburg central business district (CBD) is proving to be an animal with different parts — the good, the bad and the ugly — and savvy property developers are only now starting to figure this out and returning to the inner city.

While the liquidation will lead to the winding up of the company, a long list of other court processes and investigations are trying to get to the bottom of the mess

Tuesday, 14 December 2010 02:00

PIC confirms talks for V&A Waterfront

Victoria & Alfred Waterfront in Cape Town could be back in South African hands after the Public Investment Corporation confirmed yesterday it was in talks to buy it back.

Friday, 16 April 2010 02:00

Going nowhere fast

Line capacity has not been the problem

Transport Minister Jeff Radebe has brushed off concerns about the effect of a power shortage on SA’s readiness for the Soccer World Cup, saying that transport preparations were progressing well.

Wednesday, 04 July 2007 02:00

Group Five wins R1,8 billion contract

Construction company Group Five has won a R1,8-billion contract from Transnet to widen Durban's existing harbour by 100m and to increase the depth by 6m.

Mike UptonWorking with Belgian company, Dredging International, Group Five Civil Engineering is responsible for the civil portion of the contract, valued at R1,1 billion.

Transnet group chief executive Maria Ramos last week announced the state-owned enterprise's plans to spend R78 billion on expanding South Africa's rail, port and fuel pipeline infrastructure over the next five years and this amount is likely to grow as more projects get the go-ahead.

Group Five's managing director of the civil engineering operations, Andrew McJannet said: "We are very pleased with this contract, which was won against international competition. We believe our previous marine civils experience, such as the Moma Jetty in Mozambique and the dry bulk terminal jetty in Richards Bay, played a role in us being the winning bidder."

Group Five's partner on the project, Dredging International, has dispatched a hi-tech dredger capable of moving 5000m of rock and silt an hour from Belgium to achieve the 7-million cubic metres that will be moved over the next two years.

"This is the third major contract in Kwazulu-Natal awarded to the group since the beginning of 2007. We have already started on the 2010 Durban soccer stadium, in consortium with WBHO and Pandev, and have signed the contract for the R6,8 billion King Shaka Airport, in which Group Five is the lead contractor for the Ilembe Consortium - which includes WBHO and the KZN Empowerment Group," said Group Five's chief executive officer Mike Upton.

Work on the harbour has started, with the demolition of existing land structures and the establishment of a pre-cast concrete yard close to the site where the blocks required for the contract will be cast.

The contract is due for completion in May 2010

 

Thursday, 07 September 2006 02:00

Hyprop withdraws from V&A Waterfront bidding

Hyprop Investments is pulling out of bidding for the Victoria & Alfred (V&A) Waterfront.

South Africa's increased growth this year hinges on SA's economic recovery, which is moving at a slow pace.

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