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The Citizen
10 hours ago
- Business
- The Citizen
Zero cranes in Sandton CBD tells the story of Joburg's decline
The days of multiple cranes across the Sandton skyline – maybe a decade ago – are far, far gone. It's been well over a year since there's been a construction crane visible in the Sandton CBD. This would've been in late 2023, when shopping centre LXX Sandhurst near the Discovery head office was under construction (it opened in July 2024). Beyond the immediate CBD, there are currently three cranes at a shopping centre (yes, another one!) under construction at Sandton Gate on Winnie Mandela Drive (near Sandton Drive). There are also a few dotting the skyline towards Barlow Park on Katherine Street. The days of multiple cranes across the Sandton skyline – maybe a decade ago – are far, far gone. During the boom in the mid 2000s, turbo-charged by the the Fifa World Cup, there were literally dozens of cranes visible across Sandton's horizon. Of course, a period of strong economic growth would change this, but it's tough to see what the catalyst would be for this. Plus, there's a glut of office space available in the node. Growthpoint reported vacancies across Sandton of 20.1% at the end of December, while Redefine says its vacancy rate in the area is 11.2%. This is an enormous amount of space that would first need to be absorbed by the market, should the economy return to a much higher growth rate. Still, there's a pile of development plans for ageing buildings or prime space still available in the node that would be dusted off. ALSO READ: Where were you when Johannesburg collapsed around us, Mr President? Regional dynamics There are some regional dynamics at play in Johannesburg as well. Smaller large corporates are increasingly moving their head office campuses to Waterfall, which is arguably a private city within a city (albeit one that is publicly accessible). PwC, Deloitte, Accenture, Premier, DP World (formerly Imperial Logistics) and Sage are just some of those who have relocated their campuses to Waterfall City. Beyond Sandton, there are some cranes visible in Joburg, but these are in more specialist nodes like Waterfall and Riversands (north of Fourways), which is seeing clear investment in logistics-focused developments. Across Winnie Mandela Drive, at Steyn City, the development's 'City Centre' is all but complete. Most, if not all, of those cranes have disappeared. This stands in stark contrast to Cape Town, which is a hive of construction activity, particularly in Sea Point and at Riverlands (the site of the new Amazon campus) near Observatory. There's also activity as high-rises expand westwards from the CBD (along Bree Street, for example). Construction has commenced at the city's second tallest skyscraper (a mixed-use development, One on Bree) at the corner of Bree and Hans Strijdom Streets on the Foreshore (opposite Portside). Development at the V&A Waterfront is about to kick into high gear as the precinct expands towards Granger Bay. Even now, though, there are likely more construction cranes up in that precinct than in the Joburg metro. ALSO READ: Mashatile: How national government is aiming to reform local municipalities In Durban, the situation is similar in the metro's de facto CBD, Umhlanga. Development is still booming around Gateway, across the N2 at Cornubia, and in the Umhlanga Rocks 'village'. North of this, the Sibaya Precinct is also a hub of construction activity. This clear divergence could not be more stark. One needs to ask to what extent the urban decay and infrastructure deterioration in Johannesburg has contributed to this. Clearly, the flee northwards to Waterfall is somewhat being fuelled by that. There are no craters on every second or third corner where water bursts have been 'repaired' as there are in Sandton. Traffic lights tend not to always work, not to mention the overall challenge of getting in and out of Sandton from any direction every day. Transport infrastructure upgrades in the node have been painfully slow (aside from cycle lanes which were added a few years ago). The Rea Vaya construction mess on Katherine Street has been left abandoned and nearly complete for years. Work has now started on Rivonia Road (past Sandton City and the Gautrain station). Well over a decade ago, an executive at one of the largest property funds (and landlords) in the country privately shared a solution to solve the traffic mess in Sandton. This plan, no doubt commissioned from consulting engineers at great cost, would see Katherine, Sandton Drive, Grayston Drive and Rivonia Road becoming a one-way ring road. That was 15 years ago. Who knows if it'll ever be needed. ALSO READ: Distressed municipalities spent less than 4% of budget on maintenance — Cogta Any corporate making a decision on a new head office in Joburg today is probably unlikely to choose Sandton over a campus like Waterfall City. The number of total building plans passed by large municipalities in Gauteng versus Western Cape a decade apart tells the story (although, of course, this also includes Pretoria, Ekurhuleni and George). January to May 2015 January to May 2025 Western Cape Gauteng Western Cape Gauteng Office and banking m2 63 537 205 083 31 706 32 001 value R'000 468 930 1 782 368 303 991 401 649 Shopping m2 40 688 179 224 65 405 31 073 value R'000 325 112 1 424 791 542 275 334 590 A decade ago, Gauteng was building three times the amount of office space as the Western Cape. Today, the two are neck and neck. With retail, the difference was more than four times. In this segment, the Western Cape is now double that of Gauteng. That's a tale in and of itself. This article was republished from Moneyweb. Read the original here.
IOL News
11-08-2025
- Business
- IOL News
Growthpoint announces leadership changes with Estienne de Klerk as new Group CEO
Estienne de Klerk, CEO of Growthpoint Properties SA, has been appointed as Group CEO from July 1, 2026, following the retirement of the current CEO Norbet Sasse. Image: File Growthpoint Properties has appointed Estienne de Klerk as Group CEO, effective July 1, 2026, and José Snyders will step into the role of Group Chief Financial Officer, from January 1, the same year. Growthpoint said in a statement Monday that it plans leadership changes well in advance to ensure stable, experienced leadership and a strong, embedded culture. In 2022, Growthpoint reported that the current CEO Norbert Sasse would retire from the role. Estienne de Klerk, currently Growthpoint South Africa CEO, will succeed Sasse as Group CEO. De Klerk's appointment had followed a structured succession planning process overseen by the Board over several years, the group said. De Klerk is a chartered accountant and a Harvard Business School alumnus, having recently completed the Advanced Management Programme. He holds a BCom in Industrial Psychology and BCom Honours degrees in Marketing and Accountancy from the University of Johannesburg. He is also a certified Master Practitioner in Real Estate (PPRA). With three decades of experience across banking and listed property, and nearly 20 years with Growthpoint in a progression of senior executive roles, de Klerk has expertise in capital markets, mergers and acquisitions, operations, BBBEE, and industry transformation. He has held numerous leadership roles in the sector, including Chairman of the SA REIT Association, Past President of the South African Property Owners Association, and founder of the Property Industry Group, which supported the sector through the Covid-19 pandemic. He also serves on the boards of key Growthpoint investments, including V&A Waterfront Holdings and Growthpoint Properties Australia. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading The board also announced that Gerald Völkel is retiring as Group Financial Director on March 31, 2026 and will be succeeded by José Snyders as Group CFO and Executive Director. Snyders is the current CEO of Liberty Two Degrees (L2D), a role he assumed following a successful tenure as both Commercial Director and Financial Director of that company. Marking 22 years at the helm of Growthpoint, Sasse will continue to lead the company for the financial year to June 30, 2026. He will remain in an executive capacity for six months until December 31, 2026 to support a smooth transition. The position of SA CEO will be removed as part of a broader review of the executive leadership operating model. Visit:
The Herald
08-07-2025
- Sport
- The Herald
EP women off to smooth interprovincial start at Old Grey
The Eastern Province women's team comfortably negotiated their first hurdle on the opening day of the Growthpoint Jarvis-Kaplan squash interprovincial when they defeated Joburg Squash A without dropping a game at Old Grey on Monday. SA's most prestigious domestic team event is being played in Gqeberha for the first time since 2021 and the host province will be looking to improve on their third-place finish of 2024. They were just too good for their Joburg Squash rivals on Monday despite some spirited efforts by their opponents. Eventually, No 1 Hayley Ward wrapped up the victory with a hard-earned 3-0 over Joburg's Teagan Russell to seal the commanding 20-0 win. The Northerns A women's team sent out a strong message to their rivals that they are a team to watch when they comfortably defeated defending champions Western Province. Though WP No 1 Alex Commins prevented a clean sweep in this Kaplan Cup clash, Northerns took most of the accolades as the prestigious team event got off to a spirited start in chilly conditions. Commins defeated Helena Hudson in the tie's final clash, but by then Northerns had wrapped up the match with four solid victories. Northerns No 3 Lara Patrick had a proper arm-wrestle with WP's Katie Mayhew in their opening game, eventually conceding it 17-15. But Patrick, who was crowned the University Sport SA women's champion last week, quickly bounced back and rattled off the next three games relatively easily to take a 3-1 win, en route to an overall 17-4 result. It may have been cold outdoors, but the action soon heated up inside as Northerns No 4 Connor Earl and Murray Commins (WP A) produced a cliffhanger of a match in their men's Jarvis Cup showdown. Both players showed supreme resilience and brilliant shotmaking skills as neither of them gave an inch in the bid for victory. Commins fought with all he had to win the third game 18-16 to get 2-1 up. But the persistent Earl never lost his focus, levelling the match and then finally coming up trumps in an epic fifth game to win it 12-10. That effort levelled the tie at one match each, but Northerns stepped on the accelerator and wins by Nikhil Pather and Jarrod Cousins gave them an unassailable lead. Defending champions Cape Fruit SA Country Districts held the edge over hosts EP A, though Dean Venter, at No 2 for EP, registered a highly commendable 3-1 win over seasoned campaigner JP Brits. It was a rare Jarvis Cup loss for the four-time champions, but they still have plenty of petrol in the tank and everyone knows the fighting spirit of Brits, who is sure to bounce back stronger than ever. The Herald
The Citizen
19-06-2025
- Business
- The Citizen
Orginisation donates 50 winter uniforms in Thembisa
Growthpoint Properties, in partnership with the NPO Threads for IKasi Foundation, donated 50 full winter school uniforms to learners at Ikusasa Comprehensive School in Thembisa. The handover ceremony on May 23 highlighted the spirit of employee-driven social impact. Each uniform set includes a jersey, Drimac, trousers, a shirt, shoes, socks and a winter beanie. This donation is part of the Growthpoint Gives programme, which empowers staff to participate in upliftment initiatives within their communities. Ikusasa Comprehensive School has steadily improved its matric pass rate, rising from 77.1% in 2021 to an impressive 95.8% in 2024. ALSO READ: Local philanthropist leads sock donation campaign The school aims for a 100% pass rate and a 75% Bachelor's pass rate this year. It also promotes holistic development through the arts, sports, culture and awareness campaigns on bullying, substance abuse and health. Despite its progress, the school supports many vulnerable learners, including eight child-headed households and 47 orphans. It faces infrastructure challenges and urgently needs better resources, technology and classroom upgrades. Principal Gladwell Makhoba expressed gratitude,'These uniforms mean more than just clothing. They restore dignity, boost self-esteem and remind our learners that they matter. The support sends a powerful message: our children are seen, valued and have a community that believes in their future.' Threads for IKasi has implemented similar initiatives at over a dozen schools in Thembisa. The foundation's mission is to ensure no child is left behind by creating supportive environments that foster emotional, social and academic growth. 'For me, a school uniform means more than clothing; it represents pride, belonging and a promise of potential,' said Khabo Mnguni, the co-founder of Threads for IKasi. ALSO READ: Clothing and blanket donations needed for June 28 drive 'Growing up in the township, I saw how something as simple as a uniform can transform a child's self-image. 'That's why this mission is so close to my heart. Our partnership with Growthpoint weaves a golden thread of care into these learners' futures. It's about dignity, confidence and showing our children they are seen, supported and worthy.' The donation aligns with Growthpoint Gives' core values, encouraging employees to lead with empathy and make a tangible impact. 'A Growthpoint team member introduced us to Threads for IKasi and brought Ikusasa's needs to our attention,' said Shawn Theunissen, the head of corporate social responsibility at Growthpoint Properties. 'We are honoured to support this initiative. Beyond providing warmth this winter, it affirms dignity and helps learners focus on their education without added hardship.' Growthpoint's corporate social responsibility approach reflects its commitment to responsible corporate citizenship. Through Growthpoint Gives, every employee gets eight hours annually to volunteer in their communities, reinforcing a culture of service. ALSO READ: NPO continues with collaborations and donations 'We believe corporate responsibility lives not just in boardrooms, but in every hand that helps,' Theunissen added. 'This donation is one part of our broader commitment to employees, their communities and education. Partnerships with educators will drive meaningful progress toward building a better life for all.' At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading! Stay in the know. Download the Caxton Local News Network App Stay in the know. Download the Caxton Local News Network App here
Zawya
20-05-2025
- Business
- Zawya
Growthpoint's logistics portfolio is bolstered by completion of Arterial Industrial Estate, Cape Town
Growthpoint Properties (JSE: GRT) has reached another milestone in its ongoing strategy to improve the quality of its directly held South African portfolio with the completion of Phase 2 of the Arterial Industrial Estate in Cape Town. Driving its domestic portfolio enhancement, Growthpoint has strategically grown its logistics and industrial assets from 15% to 20% of the total SA portfolio value in recent years. At the same time, South Africa's leading REIT (real estate investment trust) has increased its exposure to modern logistics warehouses, the backbone of Growthpoint's long-term value creation approach in this sector. Modern logistics properties are and now represent approximately half of the portfolio's gross lettable area. It is also focusing its investment in better performing, higher demand areas of the country, specifically in the Western Cape and KwaZulu-Natal. A notable stride in this direction is the recent completion of Phase 2 of the Arterial Industrial Estate in Cape Town, adding quality capacity to the sought-after location. With 21,831sqm of additional lettable space, Phase 2 has added six more warehouse units, ranging from 2,945 square meters to 5,713 square meters, catering to a variety of business needs. Together, both phases of the development represents a nearly R400m investment from Growthpoint. The estate is experiencing strong demand, with two of the six units in Phase 2 already snapped up supported by strong tenant interest, highlighting the need for high-quality industrial space in the region. Phase 1 of Arterial Industrial Estate, spanning 19,741 square meters is fully let to top names in national and international industry. Wouter de Vos, Growthpoint's regional head, Western Cape "The completion of Arterial Industrial Estate's Phase 2, and the good demand and take-up of available space it is experiencing, underscores the value we provide to businesses seeking efficient and sustainable industrial real estate solutions," says Wouter de Vos, Growthpoint's regional head: Western Cape. "Growthpoint is reporting strong performance in its logistics and industrial portfolio, fuelled by high occupancy rates and a strategic focus on modern facilities. Our well-let logistics and industrial portfolio demonstrates the increasing demand for modern, strategically located facilities,' says Errol Taylor, Growthpoint's head of Asset Management, Logistics and Industrial Property. Errol Taylor head of Asset Management Industrial at Growthpoint Properties Arterial Industrial Estate is strategically positioned in Blackheath, a popular industrial hub in Cape Town, offering exceptional access to key transportation routes, including the R300, N1, and N2 highways, as well as Cape Town International Airport and the region's seaports. This prime location allows businesses to efficiently connect with both local and global markets. The estate offers 24-hour security, flexible warehouse and office space, and a commitment to sustainability, including solar panels and a four-star Green Star certification from the Green Building Council of South Africa. 'This project reflects a continued and deliberate pivot toward better-performing, future-fit logistics assets and aligns with Growthpoint's strategy of targeted investment and divestment, and development,' adds Taylor.
