Latest news with #JohnJack
National Observer
20-05-2025
- Climate
- National Observer
Wind, rain and ruin: Iconic wilderness trails limp into summer after storm season
Windfalls, landslides and washouts. The iconic West Coast Trail took a serious beating from wild weather this winter — with Parks Canada warning hikers to take extra care navigating the famed hiking route in Pacific Rim National Park Reserve on the southwest edge of Vancouver Island. Indigenous Guardians and park crews have been working hard to remove fallen trees and fix walkways, bridges and ladders wrecked by extreme weather, likely aggravated by climate change, said Huu-ay-aht Chief Councillor Sayaač̓atḥ, John Jack. Bouts of intense rainfall and wind along the rugged coastal trail are a routine challenge, but early-season conditions appear worse than usual, Jack said. Guardians have reported that, in just one section of the route, at least 100 trees have come down across the trail. 'This is the first time in a long time that I've seen this many issues pre-season,' Jack said. 'The frequency, and potentially, the severity of weather impacts are worsening with climate change.' The strenuous 75-kilometre trail, which draws thousands of visitors annually, features remote beaches and rainforests with often muddy, wet trekking or scrambling over rocks and up bluffs and ladders. A number of Vancouver Island's top wilderness trails suffered similar damage this year. The 47-kilometre Juan de Fuca Trail further south on the island is closed indefinitely due to storm damage, although some day-use sites remain open. The rugged North Coast Trail in Cape Scott Park is also temporarily closed due to storm damage. Climate change is exacting a toll on BC's iconic West Coast Trail — straining infrastructure and the Indigenous Guardians and crews who caretake it, Huu-ay-hat Chief Councillor Sayaač̓atḥ, John Jack says. Prepare for rough conditions: Parks Canada Liam McNeil, resource conservation manager at Pacific Rim National Park, agreed damage to the trail's infrastructure was significant, in part due to an atmospheric river event in October followed by a bomb cyclone in November. The Guardians and trail crews got out onto the route early and worked very hard to establish some detours and make temporary infrastructure repairs at critical locations to reopen on time in early May for summer — but hikers should plan for additional delays and challenges so they can navigate the route successfully, he said. . 'Hikers planning to come to the West Coast Trail need to be aware that conditions will be more difficult than normal, especially at the start of the season,' McNeil said. The inland route and the cable car to cross Walbran Creek, smack in the middle of the most challenging section of the trail, are out of commission due to the number of downed trees at the location. Hikers can continue along the beach but must wade across the creek to proceed — but should be prepared to wait if tides or heavy rain have swollen the river crossing. 'They may have to wait a day or so for the creek to subside in volume — and unbuckle waist and chest belts on their packs before proceeding with the utmost caution,' McNeil said. Guardians and trail need 'climate-proofing' The Canadian Coast Guard (CCG) pulled lighthouse keepers from the Pachena and Carmanah Point stations along the trail last fall, Jack said. The stations still have automated light systems, but staff were pulled from the sites because the CCG said land surrounding the stations was no longer stable and posed a hazard. However, relocating the stations was not considered. While Guardians provide some measure of safety to hikers along the trail, lighthouse-keepers acted as an extra layer of protection, Jack said. 'With no staff at these lighthouses anymore, they can't help when somebody's hurt. They can't help if some boats on the shore get into trouble,' he said. Though the closure of the lighthouses is not a Parks Canada decision, it's part and parcel of the federal government adequately resourcing the West Coast Trail, he said. 'Damage to the trail is an example of the impact that climate change is having on our day-to-day lives,' he said. As the stewards of the lands and waters in their territory, the Huu-ay-aht, Ditidaht and Pacheedaht Trail Guardians partner with the park to maintain the trail, provide cultural insights and assistance to hikers, and protect the environment. Maintenance of trail infrastructure is labour-intensive, and ensuring safety is a shared priority for the Guardians and Parks Canada, Jack said. The Guardians are highly skilled and adaptable but may need more support if the climate impacts continue to drive up maintenance and repairs. As the eyes and ears on the trail, they are in a good position to assess whether more bodies or resources will be needed in coming years, Jack said. 'There's definitely a kind of climate change adaptation and mitigation aspect to this,' he said, noting the Huu-ay-aht, along with other Nuu-chah-nulth Nations and Parks Canada, co-manage the reserve. 'We just need to be aware and be cognizant of the fact that we're going to need to invest as a country in climate mitigation and climate adaptation. And you know, the trail is an example of that.'
The Citizen
06-05-2025
- Business
- The Citizen
South Africa's commercial property sector holds steady amid political headwinds
Earlier this month, the rand approached a historic low of R19.93 against the U.S. dollar on April 9, 2025, before recovering to R18.97 by April 14. Simultaneously, the JSE All Share Index experienced significant volatility, dropping from 89,950.79 on March 31 to 82,485.81 on April 9, before rebounding to 88,162.30 by April 14. The catalyst? A 31% reciprocal trade tariff from the United States (effective April 9), that's sent shockwaves across emerging markets. It's a sharp departure from South Africa's average 7.6% tariff and effectively sidelines the benefits previously granted to Sub-Saharan African economies under AGOA. For Lesotho, where the textile and manufacturing sector makes up nearly 15% of GDP, a new 50% tariff could be devastating. That said, John Jack, CEO of Galetti Corporate Real Estate believes that 'it's not all doom and gloom'. 'South Africa kicked off 2025 on a high note, driven by lower interest rates, a stronger rand, reduced loadshedding and a boost in investor confidence,' he says. 'By mid-January, we saw solid traction, especially in the resources sector, which bolstered activity on the FTSE/JSE All Share Index. Fast-forward to now and we're seeing capital flow back into safe havens as risk-off behaviour takes hold,' As the year progressed, however, that momentum was tested. Flight to Stability: Real Estate in Focus Despite the volatility, commercial property is holding its ground—and may in fact be turning heads for the right reasons. 'The local CRE market came back strong in late 2024,' Jack notes. 'Vacancies dropped, net operating income improved, and there was a clear uptick in investor appetite. This was helped along by rate cuts, easing inflation, more consistent energy supply, and the formation of the GNU.' While global trade tensions will certainly disrupt some economic channels, Jack believes they also open the door for commercial real estate to shine: 'In periods like this, the smart money tends to chase yield and stability- and that's exactly what the right property assets offer. They're long-term, income-generating and tend to outperform when the broader market feels uncertain.' He adds, 'Not everyone is pulling their capital offshore. Many investors are simply re-evaluating—and that creates opportunity.' South Africa's real estate market continues to offer compelling yields—particularly in sectors with tight fundamentals. With bricks-and-mortar assets offering both predictability and protection, CRE is increasingly being seen as a strategic hedge. Staying Proactive in a Shifting Market In a market like this, discipline matters. Jack outlines several strategies for investors and developers looking to stay ahead of the curve: Monitor macro indicators to time moves with precision. to time moves with precision. Diversify portfolios —think retail, mixed-use, healthcare, and logistics. —think retail, mixed-use, healthcare, and logistics. Use fixed-rate debt to lock in costs while rates remain favourable. to lock in costs while rates remain favourable. Target demand-driven nodes with long-term growth fundamentals. with long-term growth fundamentals. Don't ignore regional markets —there's smart value outside of the metros. —there's smart value outside of the metros. Get flexible with leasing to keep income stable as tenant priorities evolve. 'South Africa's CRE market has been through its fair share of storms. It's proven itself resilient, especially in the face of structural constraints. Yes, short-term volatility might slow down certain deals or make tenants a bit more cautious, but the fundamentals are still there—particularly in logistics, repurposed office space, and tourism-driven assets' he concludes. Issued by: Jess Gois
IOL News
24-04-2025
- Business
- IOL News
Navigating South Africa's commercial real estate amidst political and global challenges
Between March 2017 and March 2020, SA REITs lost more than 70% of their value, and while it had clawed back nearly 68% in value excluding dividends, it remained 50% below March 2017 levels. Image: Supplied The commercial real estate sector in South Africa is being tested by a mix of local political uncertainty and mounting global trade pressure, but the market is holding up with investors adopting a wait-and-see approach. Earlier this month, the rand approached a historic low of R19.93 against the US dollar before recovering to R18.97 by April 14. Simultaneously, the JSE All Share Index saw significant volatility, dropping from 89 950.79 on March 31 to 82 485.81 on April 9, before rebounding to 88 162.30 by April 14. Meanwhile, the FTSE/JSE listed Property Index was down by only 1.34% year-to-date on Tuesday, while it was up 21.93% over a 12-month period. Over three months it was up 0.55%. The catalyst for the currency and volatility on the JSE? A 31% reciprocal trade tariff from the US (effective April 9), that's sent shockwaves across emerging markets. It's a sharp departure from South Africa's average 7.6% tariff and effectively sidelines the benefits previously granted to Sub-Saharan African economies under AGOA (African Growth and Opportunity Act). "South Africa's commercial real estate market has been through its fair share of storms. It's proven resilient, especially in the face of structural constraints. Yes, short-term volatility might slow certain deals or make tenants a bit more cautious, but the fundamentals are there—particularly in logistics, repurposed office space, and tourism-driven assets,' said Galetti Corporate Real Estate CEO John Jack in a statement. The local commercial real estate market came back strongly in late 2024, vacancies fell, net operating incomes improved, and there was an uptick in investor appetite. This was helped by rate cuts, easing inflation, more consistent energy supply, and the formation of the GNU. 'Not everyone is pulling their capital offshore; many investors are now simply re-evaluating—and that creates opportunity,' he said. 'South Africa kicked off 2025 on a high note, driven by lower interest rates, a stronger rand, reduced loadshedding, and a boost in investor confidence. By mid-January, we saw solid traction, especially in the resources sector, which bolstered activity on the JSE. Fast-forward to now and we're seeing capital flow back into safe havens as risk-off behaviour takes hold,' he said. "In periods like this, the smart money tends to chase yield and stability—and that's exactly what the right property assets offer. They're long-term, income-generating and tend to outperform when the broader market feels uncertain,' he said. The SA Reit Association's online publication said improving fundamentals in South Africa continue to point towards a return to net property income and dividend growth for the sector over the next 2 to 3 years, and the sector is better positioned to weather uncertainty that lies ahead. Jack said South Africa's real estate market continues to offer compelling yields—particularly in sectors with tight fundamentals. Bricks-and-mortar assets offered predictability and protection, and the sector was increasingly being seen as a strategic hedge. The association said SA REITs (real estate investment trusts) had rebounded 68% since the Covid-19 crash, and properties were still trading at significant discounts to net asset value, with many offering long-term upside despite short-term global market volatility.
