[BREAKING] South Africa's Vukile Property Fund has announced its biggest single property acquisition to date - its first mall in the Spanish capital itself - Madrid's Islazul Shopping Centre for €318 million (around R6bn).
#MoneywebNews#Deals
https://t.co/k4M4rPmqSf
[ADVISOR VIEW] Generational wealth isn’t just built, it’s protected. #JacoFouché from #JenwilBlueStar stresses the need for a valid will to avoid costly disputes.
#Moneyweb#EstatePlanning
https://t.co/LaLdgOTQoH
The KwaZulu-Natal Department of Agriculture and Rural Development is calling upon all registered Agricultural farming businesses or enterprises to apply for project funding for 2025/2026 financial year.
Kindly visit our web site for more information: https://t.co/hMqRpYT3c5
📢This is a call for applications for the National Presidential MSME and Cooperatives Awards‼️
You MUST read all the requirements so you understand the process, which is a little different this year. Here's the link👉🔗https://t.co/wCK3810FfQ
DEADLINE: Fri, 13 September 2024.
[FARM ADVERT] Application to lease state land:
Farm Description - Portion 26 (A portion of portion 2) of the Farm DE WAGENDRIFT 417 JR, situated in the City of Tshwane Metropolitan Municipality in Gauteng, Total extent: 21.4369, Current farm use brakedown: Livestock production..
Despite riots and floods, the developer of KZN’s newest mixed-use precinct worth R30 billion is pushing on
Quick facts about WESTOWN - Shongweni
🌳 Size: over 100 hectares
🌳 Job opportunities created: 30 000
🌳 Location: on the N3 between Pietermaritzburg and Durban
🌳 Development rights: 520 000m² of bulk floor area already approved
🌳 Developer: Fundamentum Property Group in collaboration with the City
🌳 The land rights were purchased from Tongaat Hulett in 2016 by Fundamentum Property Group. Tongaat Hulett retains ownership of the land via a new property company: Tonga Hulett Property.
Over the next 15 years, multiple phases will roll out to include industrial, commercial, hospital, retail and residential developments. The first phase is the 50 000m2 Westown Square shopping centre - the grand opening will be early 2025. The mall (valued at over R2.5 billion) has been designed by MDS Architecture and Boogertman and Partners KZN. Fundamentum Property Group has acquired the development rights for the shopping centre with a rolling 99-year leasehold.
Retailers who have committed to opening up in the shopping centre include:
•Multiple stores by The Shoprite Group to the total of 10 000m2 (Checkers Hyper, Checkers Liquor, Petshop Science, Little Me, Checkers Outdoor, and Uniq Clothing)
•Edgars with a new store look - they will stock local brands; Keedo, Tread + Miller, Aca Joe, Urban, Sissyboy and Hilton Weiner
•The Mr Price Group
•Pick n Pay
•Dischem
•Clicks
The following phase will consist of 2800 residential units in the urban core and 24 000 over the development period. 170 000m2 of warehouse, logistics and commercial space is also in the pipeline along with a 100-bed private hospital.
The City will be investing over R600 million into infrastructure and roads. These upgrades will include 2 new bridges and an expansion of two-lane Kassier road into four lanes.
Due to the area’s location between Pietermaritzburg and Durban, some are comparing this to “Midrand.” This is also one of the biggest infrastructural investments by the eThekwini Municipality since the Soccer World Cup in 2010.
What are your thoughts on this new precinct?