The first hotel to be built in Sandton in the last four years is near completion and set to open for business in the first quarter of 2014.

Positive news in the hospitality sector in South Africa is recorded at the 5 Star hotel level, which despite experiencing substantial decline between 2009 and 2011, recorded a national average RevPAR (revenue per available room) annual increase of 15.6 percent during  2012. 

Redefine Properties’ 90 Grayston Drive construction site was awarded first prize in the Master Builders Association North Regional Construction Health and Safety Awards. 

Sandton Convention Centre has proudly notched up two more coveted industry awards in the enviable collection it has gained since it opened its doors. 

Sandton’s posh Inanda Club, which sold a third of its land (8ha) to Investec for R72,5m earlier this year for a new housing estate, is set to become one of Gauteng’s most exclusive residential addresses.

The flight of many businesses from the Johannesburg central business district, including the Johannesburg Stock Exchange, in the 1990s saw Sandton become the new financial district of South Africa.

Capital Property Fund share price closed almost 1% higher at R10.42 on Wednesday after the fund reported growth in distributions for the six months ended June at the upper end of its initial forecast, and also revised its full-year guidance upwards.

For the first time in several years, commercial property developers are bringing speculative office developments to market.