COMMERCIAL
MARKETS COMPANIES
SPEAR
Spear REIT Limited (“ Spear ”) is a Western Cape focused diversified property investment company listed on the JSE AltX on 11 November 2016 .
Spear REIT Limited (“ Spear ”) with a Cape Town bias .
Spear was established in 2011 as a private portfolio of investment properties by three South African real estate industry leaders , namely , Mike Flax ( chief executive officer ), Quintin Rossi ( managing director ) and Abu Varachhia ( non-executive chairman ). Spear ’ s property portfolio is made up of 25 properties with a total value of approximately R1.39 billion . The property portfolio comprises a well-balanced mix of residential ( 5 %), industrial ( 37 %), retail ( 22 %), office ( 27 %), hospitality ( 7 %) and other ( 2 %) assets .
MARA DELTA
Mara Delta has concluded negotiations to invest up to € 50 000 000 with New Mauritius Hotels Limited (“ NMH ”) in a sale and leaseback transaction of three prime Mauritian resorts .
WATERFRONT SILO DISTRICT GETS A HEALTHY BOOST
The V & A Waterfront ’ s prestigious Silo District has taken another big step towards completion with the opening of Cape Town ’ s first Virgin Active Collection health club . The 3912m ² luxury space , located at Silo No . 4 , was launched by Virgin Group founder Sir Richard Branson who described it as one of the best health clubs in the world . Built to meet a four-star Interior Green Building SA rating , the club is situated next to the eagerly-awaited Zeitz Museum of Contemporary Art Africa which is scheduled to open its doors in 2017 . Development work in the 80,000 m ² Silo District began in 2012 and , when completed next year , will consist of seven buildings .
PEOPLE
SIR RICHARD BRANSON AND DAVID GREEN
THE GREEN BUILDING COUNCIL SOUTH AFRICA ( GBCSA ) ANNOUNCED THE APPOINTMENT OF SUSTAINABILITY EXPERT DORAH MODISE ( PREVIOUSLY NTEO ) AS ITS CHIEF EXECUTIVE OFFICER ( CEO ) The GBCSA has seen significant growth since its inception in 2007 and is geared to grow substantially in the years to come . This is mainly due to the increasing significance of the property sector in the reduction of global greenhouse gas emissions and the overwhelming balance sheet benefits brought about by efficiency savings ,” says incoming CEO , Dorah Modise .
PAUL LEAF-WRIGHT
CEO OF ATLANTIC LEAF “ After just more than two years in operation , we believe that Atlantic Leaf has grown sufficiently as a company to migrate to the JSE ’ s Main Board and we expect that this move will lead to improved trading liquidity . Our strategy to establish a portfolio of quality properties with solid leases is on track and we are well-positioned to continue to deliver strong returns to our shareholders .”