Tuesday, 08 December 2020 16:43

GDP recovers to 66.1% growth

The South African economy began its journey to recovery during the third quarter of 2020 - this after the national lockdown aimed at curbing the spread of COVID-19 had sent it into a tailspin.

The negative effects of the COVID-19 pandemic and subsequent hard national lockdown cannot be overstated when it comes to the construction industry.

Redefine Properties, which turned 21 as a listed company this year, is well placed to benefit from logistics growth in Poland after hard lockdown restrictions locally and dividends withheld by offshore investments significantly dampened results for the year ended 31 August 2020. 

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.

Those in the business community have shown significant interest in the Government's plans to revive the economy in the wake of the Covid-19 pandemic and its negative impact economically.

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

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

Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with South African real estate company, Millat Properties, for the first Hyatt-branded hotel in Cape Town.

JSE listed REIT Octodec Investments Limited, today announced its annual results for the year to 31 August 2020, against a weakening economic environment exacerbated by the COVID-19 pandemic and subsequent lockdown.

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