News
Posted on 2022-12-16
The JSE All Property Index closed at 7 789 last night.
The International Finance Corporation (IFC) has announced a R1bn investment in a green bond
issued by Growthpoint Properties that will assist the REIT in financing
green improvements across its commercial portfolio in SA. The green
bond will also aid Growthpoint in refinancing its Green Star 5 Star
office building in Rosebank, Joburg. Absa Corporate and Investment
Banking (CIB) acted as bond advisors for the transaction and assisted
Growthpoint with the private placement of the bond on the JSE.
While Absa’s Homeowners Sentiment Index shows confidence in SA’s
property market at 82% in Q3 2022, a 4-percentage point improvement
against Q2 2022 and matching Q3 2021, the bank does not anticipate the
demand for residential property to grow in the next two quarters, but
instead, it expects a downward trend, given SA’s much-needed economic
recovery with load shedding expected to continue in the medium term, the
current high cost of living, unemployment rates and further increases
in interest rates. However, supply may continue to grow as homeowners
look to selling their properties when faced with financial difficulty.
Vantage Data Centers have announced the construction of a second campus
in Joburg, JNB2.The JNB2 Isando campus is located in Ekurhuleni,
approximately 17 km from its growing JNB1 Midrand Campus with its first
building to consist of a 20MW – 33 000m2, two-storey data centre which
will be operational from mid-2024. The new data centre will feature an
onsite security operations centre, dedicated offices, and workspaces,
break areas, conference rooms, meeting spaces, and secure storage
areas. Vantage is repurposing a portion of an existing warehouse for the
initial phase.
