Namibian retail has been largely sheltered from the prevailing tough trading conditions which have impacted the retail sector in South Africa and globally, explains retail leasing director, Dave Bennie of leading African property company Broll

Atterbury Developments in partnership with credible and well established Mauritian holding company, ENL Property, has embarked on the task of developing the island’s first regional shopping centre - The Mall of Mauritius at Bagatelle

Wednesday, 30 September 2009 02:00

South Africans keen on Mauritian marina

SAVVY South African investors are using the strength of the rand to their advantage by buying property in Mauritius.

Ascencia Ltd, which listed on the Development & Enterprise Market (DEM) of the Stock Market of Mauritius in December 2008, represents the first commercial property fund in Mauritius undertaking a capital raising exercise open to SA investors

Thursday, 22 May 2008 02:00

Esor thrives on building boom

Geotechnical engineering specialist Esor on Wednesday reported a threefold increase in revenue to R1bn for the year to February as it benefited from commercial and government infrastructure spend and a building upsurge in Angola and Mauritius.

Construction IndustryCEO Bernie Krone said today’s buoyant construction market was the primary driver for the group’s organic growth.

“The Gautrain continues to be a major contributor. We have R400m worth of work for the high- speed train which will be world class, with 14 months’ worth of work,” Krone said.

Of the R420m worth of projects secured, R170m was completed during the year.

“The Gautrain … is stimulating major development within the radius of its stations’ use areas, which will dramatically alter the urban landscape and further boost the construction industry beyond 2010.” The many new developments in the pipeline included high-rise offices, hotels and retail and commercial building projects.

The group has completed piling projects for Airports Company SA at the new King Shaka and Cape Town International Airports and contracts for piling, pedestrian culvert jacking and lateral support at OR Tambo International Airport.

Work on stadiums for the 2010 World Cup has been completed at Athlone Stadium in Cape Town, Moses Mabhida Stadium in Durban and Port Elizabeth Stadium.

Profit came in at R116m from R34m a year before.

Headline earnings per share jumped 240% to R115m, equating to 51,3c per share while net asset value per share increased 46% from 109,8c per share to 160,3c.

The group declared a final dividend of 20c per share for the year for a total of R49,6m.

Krone said the group was entrenching its presence in Africa, building on subsidiary Franki’s foothold in oil-rich Angola. Contracts for piling, lateral support and marine works projects were completed during the year.

Stringent cost control kept operating margins steady despite the negative effect on the group of unusually abundant December rains.

“We did see a slight decrease in margins in the final quarter of the year since excessive rain in Gauteng slowed down projects before and after our year-end break.

“However, a stricter focus on operational efficiencies and aggressive investment in plant helped keep margins on a par with last year,” Krone said.

Esor invested R147,5m in new equipment during the year.

Krone said the current year would be an acquisitive one, but the group would look only at companies that made good business sense and in the geotechnical engineering sector.

 

Tuesday, 30 May 2006 02:00

Lafarge taps George construction boom

Global construction material producer Lafarge has firmed its foothold in the booming Garden Route construction market.

Mauritian investment holding company has launched the Anahita residential resort in SA, in line with Mauritius' integrated resort scheme.

Friday, 15 February 2002 15:57

Spotlight on Africa 2000

 

Joint report by Herbert Smith of Metroscape Town and Regional Planners & Development Consultants and JHI Professional Services, with country-specific input from JHI's International Division.

Expansion across South African borders is a topic that has received much attention in recent years, especially from retailers who are generally perceived to be leading the charge into Africa. But while there is good potential for both property investment and development in countries as far apart as Mauritius and Ghana, the decision to invest in Africa is not one to be taken lightly - especially in the case of a tangible investment such as real estate.

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