JSE listed diversified real estate investment trust Redefine Properties has announced the decision by its Board to resolve to not pay a dividend in respect of FY2020 in the face of ongoing Covid-19 uncertainty.

While a further reduction to the interest rate would have been a bonus for aspirant first-time home buyers and existing homeowners with mortgages, the Monetary Policy Committee’s decision to leave the repo rate unchanged at 3.5% was anticipated by the majority of market commentators, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

As a result of the lockdown in South Africa, 14% of construction companies permanently shut their doors, according to a survey by Statistics South Africa released in May 2020.

MASSMART’S brand-new, cutting-edge centralised distribution centre for the Western Cape has been completed and is one of the largest, and most impressive of its kind in Cape Town, at just under 53 000 square metres in size.

Gerhard Kotzé, MD of the RealNet estate agency group, says that while the real estate sector is currently performing very well in spite of the major contraction in the economy this year.

While the Home Buying Market is buoyant, still being driven by sharply lower interest rates this year.

Spear REIT Limited (SEA:SJ), the only regionally specialised Real Estate Investment Trust (REIT) listed on the JSE, reported its interim financial results today.

Rural retail specialists, McCormick Property Development (MPD), are expanding their footprint in the Eastern Cape.

JSE REIT Stor-Age, South Africa’s leading and largest self storage property fund.

Tradehold’s South African business, the Collins Group, delivered outstanding results in the six months to end August, achieving a net profit of £3.3m.