MD's Message - April 18
Category Newsletter: Message from MD
Dear Friends, Property Investors and Enthusiasts,
The days are now becoming noticeably shorter and the nights longer and although the normally dry winter season is creeping in we have been blessed with some excellent rainfalls during the past month. While a number of provinces within South Africa are still struggling with drought most of the dams in Gauteng are now either 100% full or close to being full.
The much needed rain may have hampered construction on most of our sites for a few days but despite this, I do not expect delays in the completion dates of any of our projects.
On the economic front, not only was the repo rate reduced by 25 basis points during the past month but we were also handed more good news when rating agency Moody’s decided not to downgrade South Africa further to junk status and revised its credit outlook to stable from negative. The South African economy will definitely welcome both these reprieves!
Author: Nico Louw
