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Ingenuity Property Investments (ING), a JSE listed company, has issued a total of 156.5-million for cash, which represents 14.9% of its issued share capital, giving a total of R125.2m- it said on Friday.At an annual general meeting in January, Ingenuity shareholders approved a share issue. As per said by the property investment and development company, the shares were issued at 80c per share, which represents an 8.8% discount on the 30-day volume weighted average price prior to October 22, 2013.The company said that the proceeds would be...

Octodec and Premium announced today that they have signed an agreement with IPS Investments Ltd and City Property Administration Ltd, with an aim of doing possible efforts of merging both the funds during 2014.  The agreement will include the IPS repurchase City Property’s Shares in IPS for a cash consideration of R127.5 million and the repayment of City Property’s shareholder loan in IPS of R48.1 million.Currently Octodec and Premium, each of them hold 40% of the issued shared capital of IPS with City Property which holds...

An agreement is being  signed by Growthpoint Properties with Solar Century and Eskom according to which an utility scale solar power plant will be installed on the rooftop of the Waterfall Mall in Rustenburg. 892 megawatt hours of electricity will be generated every year by this plant.The head of utilities at Growthpoint Properties- Essop Basha said that the rooftop plant will generate an equivalent power as required by around 750 average sized homes. “Growthpoint has guided an alternative for energy generation at three of our...

Unveiling the mini budget, it is expected that Finance Minister Pravin Gordhan’s speech will again catch the attention of the financial markets along with some adjustments that will accomplish the same as the government’s economic and fiscal policies. All will be looking with full attention on Gordhan, when he will walk into the Parliament to declare his last Medium Term Budget Policy Statement of the current administration, before Parliament today.   The mini budget will be in concern of inactive growth according to...

PRASA’s Corporate Real Estate Solutions (Cres) company, the entity charged with managing PRASA’s extensive property portfolio owned by the government. It survives for a month depending on the government subsidy of over R20 million.PRASA Cres’s Performance Result for the month and quarter which ended up on 30th June 2013 states that more than half of the entity’s revenue income includes government subsidies - R69 million in just three months.Managing property on the part of government should result in millions in...

Since long time the consolidation of SA’s property is under process due to the careless of new listings since the last three years.The property sector has been passing from bad property listing since last 18 months with remarkable low interest rates which is creating a suitable environment for new property vehicles.   But the question is that whether the sector is feasible to see further any more new listings or it will see more combinations as the newer and smaller listings seems to merge and reach the state where they can...

The latest Consumer Credit Market report from South African National Credit Regulator states that around 75,000 property owners were in debt on contract repayments for around more than three months in June.The biggest banks are taking longer to deal with home loan defaulters although they are continuously lowering their nonperforming home loan books from 2009-10 peaks, say industry players. Steven Barker, the Standard Bank home loan head said that in the last week the bank’s percentage of nonperforming loans decreased from 6.2% to 4.9%...