Balwin Properties announced that the offer for shares in relation to its listing was over-subscribed. 

Balwin Properties is looking to raise between R713 million and R1.6 billion ahead of its listing on the “Real estate holding and development” sector of the JSE main board on Thursday, 15 October 2015.

Nedbank Corporate and Investment Banking and Rabie Property Group have joined forces to complete the Burgundy Estate residential development in Cape Town with the first two projects totalling 370 units at a cost of R400 million due to get underway.

Share blocks can be complicated to run as they are classed as companies, and each owner of a unit has shares on the company.

Wednesday, 13 February 2013 14:24

Levies on an equal “per owner" basis

Over many years of giving sectional title advice, I have seen a persistent theme of schemes charging levies on an equal "pro rata" basis, either for all expenses or for specified ones.

The root cause of most serious disputes in schemes is money. At the AGM, members have the opportunity to discuss, and have explained to them if necessary, how their money was spent. 

For various reasons, more and more people want to work at home rather than commute to an office every day, but this can pose a problem if they live in a sectional title (ST) scheme, and they may need to get the permission of the body corporate before they go ahead.

In most cases where sectional title schemes are placed under administration they would probably have been better off in the hands of the owners

In mid-2011 it was announced that two new Acts affecting Sectional Title and Community Schemes in South Africa had been signed by the President and were expected to become operational by the end of the same year. However, the end of 2012 is in site and these two Acts are still not operational

Monday, 08 October 2012 19:53

Making fines stick in community schemes

The executives in many sectional title schemes use fines as a way of discouraging rule breaking by members or tenants. 

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