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| Message from the Managing Director |
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My fellow South Africans... brace yourselves for turbulent times ahead!
World markets are in turmoil with US markets recording their worst half year ever since 1972.
Inflation is on the up and the only tool available to governments to curb this rise, is by bumping up interest rates. It does not come as a surprise that the USA, after printing vast amounts of Dollars shortly after the outbreak of the pandemic, must now raise interest rates to such an extent that last month's increase was the biggest interest rate hike in almost 30 years.
The South African economy also breached the 6% consumer price inflation rate which will surely prompt another interest rate hike during the next...
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| Featured Residential Developments |
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With the passing of each month, more homes are completed and occupied within the Brendavere Estate in Fourways, Sandton. Although being almost sold out, there is still a vast amount of work required to construct and complete all the homes before year-end. Nine months is the general timeline in which to complete a home after a sales agreement is concluded. Half of the time is used for the drawing up and finalisation of plans, with the balance required for constructing and finishing the home.
Construction work on both our Mooi Land and Welverdiend projects within the de Land Estate in Potchefstroom is also well on track to be completed by their advertised dates of September and October respectively this year.
I am happy to report that we received our National Home Builders Registration Council (NHBRC) certificates for Ndalo earlier this week. Construction work on the seventy-six simplex home development in Albertsdal will now commence with full force as 1 December this year is set as the occupation date.
On July 1 we had our first owners take occupation of their brand-new Featherstone apartments in Craighall. Once again, all relevant contractors ensured that the entire residential development was completed and ready for occupation by the end of last month. I am also confident that sales will now be concluded on the last remaining units still available within the development.
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Luxury Apartments
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All 30 apartments within the Featherstone complex was completed during June 2022 and are now ready for occupation. The luxury apartment development, situated within walking distance of the Hyde Park Shopping Centre, offers thirty 2 ...
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| Retail Developments |
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This past month, excellent progress was made with the construction to the Vyfhoek Retail Centre adjacent to our Vyfhoek Shopping Centre in Potchefstroom.
I am also excited to report that, yet another multinational tenant has recently signed up for retail space within the centre. Once all required paperwork is finalised, we will officially welcome the new tenant to the centre.
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| Brand New Retail Centre in Potchefstroom |
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Construction has commenced and all is on track for the Vyfhoek Retail Centre's grand opening on the 1st of November this year. Both Jonsson Workwear and Sportsmans Warehouse have already signed up, with limited space still available. The Vyfhoek Retail Centre is adjacent to the Vyfhoek Shopping Centre and right ...
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| Impact of higher fuel prices on commercial property. |
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It is well-known that cumulative fuel price increases have significantly added to overall consumer price inflation, and the latest increases further sustain this pressure.
For many consumers, fuel spend is difficult to avoid, meaning they have to reprioritise other expenditures and possibly reduce spending on non-essential items. Many will also have to delay spending on low-frequency purchases, such as clothing, furniture or motor vehicles.
The knock-on effects of lower consumer spending... |
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We are also in the final planning stages of our The Elements project in Van Der Hoff Park, Potchefstroom. Once all current residential projects in the area are completed, we will shift our attention to this site which is said to be one of the most exclusive sites in Potchefstroom. The security estate will comprise of a limited number of exclusive four-bedroom duplex homes, all with magnificent views over the Potchefstroom dam and stunning three-bedroom simplex homes. All will be complimented by double garages and pet friendly gardens.
Although the site will most probably only be launched later this year, I am happy to share our first illustration of the concept design with you.
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