Thursday, 10 February 2005 02:00

Cement sales soared to new heights last year

The past year was an outstanding year for the South African cement industry with several sales records being broken, John Sheath, marketing manager of the Cement & Concrete Institute, has reported.

Demand for space in provinces such as Mpumalanga help to reduce the levels of risk associated with the portfolio as a whole.

Prima Property Trust today announced a final distribution of 4,43 cents per unit for the four months from 1 January 2004 to 30 April 2004, representing a 3% improvement on the forecast.

Friday, 06 February 2004 02:00

Capital Property reports earnings slip

 

Listed property fund Capital Property Fund (CPL) has reported a fall in its final headline earnings per unit for the year ended December 31, 2003, to 27.44 cents from 28.24 cents a year earlier.

Thursday, 29 January 2004 02:00

Water pipe to run from Gauteng to Mpumalanga

The South African Water Affairs and Forestry Department and the Mpumalanga Government have initiated a 70 million rand project to construct a water pipeline

Tuesday, 25 November 2003 02:00

Maputo port steps up pressure on Durban


Port Maputo, the recently concessioned harbour in the Mozambican capital, has moved a step closer to being an effective competitor to Durban.

 

Thursday, 16 October 2003 02:00

Rising Cost of Security

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

Monday, 14 July 2003 02:00

Business slows in the building sector.

BUSINESS conditions in the building sector have deteriorated in the second quarter as high interest rates take a bite out of residential property demand, a survey from the University of Stellenbosch's Bureau of Economic Research shows. 

Construction IndustryThe bureau's business confidence index for the building industry slipped to 54 last quarter from 58 in the first quarter as economic growth slowed. The delayed effect of last year's four interest rate hikes "have now left a mark on the industry", the bureau said.

Residential property was worst hit by the high interest rates and a slowdown in gross domestic product growth, with building contractors' profit margins coming under pressure in the second quarter, resulting in job losses. 

Domestic demand has been fairly resilient in the first quarter, with the construction sector benefiting from capital expenditure projects in both the public and private sector, according to last month's Reserve Bank quarterly bulletin.

However, the survey results signal much weaker conditions in the second quarter.

"Growth is slowing down in the building sector, which has hurt business confidence. Retrenchments have increased, especially in the residential sector, as business conditions have deteriorated," said the bureau's senior economist Charles Martin.

Civil engineers, typically involved in large government infrastructural projects, experienced far better business activity in the second quarter compared to other sectors of the construction sector.

Civil engineering firms said competition for tenders was intense and profit margins were under pressure, according to the bureau.

"The majority of contractors polled expect the market to weaken somewhat in the third quarter," said Martin. A lower interest rate this year was likely to boost the industry's prospects, but this would materialise only next year.

"Conditions are weaker, but this is not a recession. We will see a gradual pick-up in business confidence by the fourth quarter, but a full turnaround is only likely next year," said Martin.

The confidence index has a tendency to lead the official building figures released by Statistics SA by at least two quarters.

Stats SA's April release of building figures shows an 8,4% year on year drop in actual building plans passed, with less building plans passed in Gauteng, Eastern Cape, Mpumalanga and Northern Cape this year compared to last year.

The real value of buildings completed in April increased by 2,7% year on year, mainly due to a sharp rise in non residential buildings, according to Stats SA's figures.

The survey shows building costs have remained high, despite the strong rand reducing the price of imported inputs.

However, costs are likely to moderate during the year, with the bureau forecasting building costs to grow 8% this year.      

Friday, 02 August 2002 02:00

Agency launches branch in Mpumalanga

The National Urban Reconstruction and Housing Agency, which mobilises finance for the low- income housing market, launched a branch in Nelspruit, Mpumalanga

Page 9 of 9

Most Popular

Tshwane Regional Mall Grand Opening date set

Aug 31, 2019
  TSHWANE REGIONAL  MALL
24th October 2019, the long-awaited day earmarked for the grand opening of Tshwane…

Attacq Ltd and Tricolt break ground on Ellipse Waterfall

Aug 30, 2019
 13 2
Today Attacq Ltd the JSE listed REIT developing Waterfall City, and Waterfall Logistics…

Redefine Properties appoints Daisy Naidoo as independent non-executive director

Aug 30, 2019
 STRATE 1
Redefine Properties appoints Daisy Naidoo as independent non-executive director.

Founder Marc Wainer retires from Redefine Properties

Aug 31, 2019
 MARC WAINER
JSE listed diversified real estate investment trust Redefine Properties today announced…

Eris Property Group appoints successive CEO Barend de Loor

Aug 30, 2019
 BAREND DE LOOR
Eris Property Group has appointed a new Chief Executive Officer (CEO). Barend de Loor…

Please publish modules in offcanvas position.