Latest news with #PaulStevens
Zawya
8 hours ago
- Business
- Zawya
Investing in South African commercial property: Top tips for 2025
In 2025, it's not just about visibility or accessibility; it's about anticipating where investment is heading and aligning with that momentum. Strategic location remains the cornerstone of successful commercial property investment in South Africa — but the game has changed. From mixed-use nodes like Cape Town's Century City to the transformative Westown precinct in KwaZulu-Natal, investors are looking beyond the traditional 'position, position, position' mindset. They're following infrastructure, governance quality, and development incentives as key indicators of long-term growth. Whether you're a seasoned investor or exploring development opportunities for the first time, understanding what to look for – and what to avoid – is essential in building a resilient and profitable portfolio. Paul Stevens, chief executive officer of Just Property, outlines the key considerations when investing in commercial real estate: 1. Where investment flows, growth follows Commercial property can offer significant long-term returns and portfolio diversification, but success in this market is rarely accidental. Look out for areas undergoing infrastructure upgrades, precinct developments or special economic zone designations. The Westown precinct in Shongweni, KwaZulu-Natal, for example, is transforming into a major lifestyle and commercial node with the support of eThekwini Municipality and the private sector. Projects like these bring in roads, fibre connectivity, water security and power infrastructure – the kind of groundwork that makes a location viable for decades. Cape Town continues to outperform much of the country in terms of governance, safety and service delivery. The Western Cape government's consistent investment into transport corridors, clean energy and urban regeneration has translated into increased investor confidence and steadily declining vacancy rates in prime office and mixed-use nodes. 2. Demand and supply: read the vacancy rate, not the hype Vacancy rates are a leading indicator of demand. High vacancies put pressure on rental growth and may suggest an oversupplied or underperforming submarket. Conversely, low vacancy rates can support stronger rental escalations and indicate a more competitive tenant pool. In the office sector, for example, we're seeing a recovery in key urban centres. Prime office space in Cape Town's CBD and decentralised nodes such as Century City are approaching historically low vacancy levels, after a sustained period of contraction and hybrid work adjustments. In contrast, retail is becoming increasingly bifurcated (split into separate and distinct parts). High foot-traffic neighbourhood convenience centres remain resilient, but large-format shopping malls are under pressure from changing consumer behaviour, e-commerce and rising operating costs. If you're considering investing in retail, look for assets that offer a mix of essential services, grocery retail and lifestyle offerings – and pay close attention to tenant composition and turnover. 3. Industrial property: logistics still leads If there's one segment that's consistently outperformed over the past five years, it's industrial. The pandemic-era acceleration of e-commerce created a structural need for warehousing, last-mile logistics and flexible distribution facilities. That demand hasn't waned. In fact, it has matured into a broader trend. According to the Rode Property Report, as reported in Property Wheel, 'nominal gross market rentals for South Africa's industrial space of 500m² grew by 6.7% in Q4 2024 compared to Q4 2023 with rentals approximately 23% higher than the pre-pandemic levels in 2019'. The take-up was driven by logistics providers, FMCG distributors and manufacturing operators seeking modern, energy-efficient premises close to key transport routes. When assessing industrial property opportunities, proximity to arterial roads, ports and freight hubs is vital. So too is flexibility of use – a building designed for one tenant type is more risky than a multipurpose facility that can serve several industries. Green features like solar PV and rainwater harvesting are increasingly not just value-adds, but requirements. 4. Zoning, bulk and development potential Development-led investors should be looking for land with the right zoning already in place – or with realistic prospects of rezoning. Land banking in areas earmarked for future expansion can yield strong returns, but only if the right groundwork has been done. Understanding bulk rights, building lines, parking ratios and environmental overlays is essential. So is engaging early with municipal planning departments to understand precinct plans, transportation frameworks and timelines for service rollouts. The redevelopment of underutilised commercial buildings is another emerging trend, particularly in older business districts. However, retrofitting comes with its own risks – compliance with new energy and fire regulations, heritage approvals or the cost of upgrading old systems to modern standards. These projects can be highly lucrative, but they require detailed feasibility studies and the right professional team. 5. Follow the money: where are building plans being passed? Municipal data on building-plan approvals can offer a leading insight into where private developers are placing bets. If you notice an uptick in industrial plans being passed in a particular node or mixed-use precincts gaining traction in a suburban area, it's a sign of confidence and forward-looking demand. At the same time, it's worth noting where plan approvals are declining – especially in overtraded sectors. For instance, many municipalities are seeing a slowdown in office-building approvals, reflecting the oversupply that followed the 2020–2022 remote work trend. That said, the market is recalibrating, and demand is returning for smaller, flexible, high-spec office environments, often in mixed-use or lifestyle precincts. 6. Economic signals: interest rates and lending appetite Commercial real estate is capital-intensive and the cost of debt plays a central role in determining feasibility. While the South African Reserve Bank initiated a rate-cutting cycle in late 2024, recent global economic uncertainties and inflationary pressures have led to a more cautious approach. The prime lending rate is expected to remain relatively stable through 2025, with potential modest declines contingent on favourable economic developments. Banks remain cautious in their commercial lending practices. Loan-to-value ratios are typically capped at 65%–70% for new developments, with lower ratios for speculative projects. Having equity or access to patient capital is a competitive advantage in this environment. It also underscores the importance of robust due diligence, clear business cases and tenant pre-commitments when seeking finance. 7. Keep an eye on the cycle Commercial property is cyclical, and timing matters. Different asset classes perform differently depending on where we are in the cycle. Right now: - Offices are moving into recovery mode, particularly in decentralised nodes with high-spec buildings. - Retail is holding steady in neighbourhood and convenience formats, but faces structural headwinds in large regional centres. - Industrial continues to outperform, especially in logistics-driven corridors. - Hospitality and student housing are attracting renewed attention as tourism rebounds and tertiary institutions return to in-person learning. Understanding these dynamics can help investors ride the upswing and avoid being over-exposed in downturns. 8. Regulatory clarity and operating risks Finally, make sure you understand the regulatory environment – from the basics of building compliance and zoning, to the tax implications of owning and operating commercial property. This includes being aware of legislation such as the Property Practitioners Act and municipal bylaws, which affect everything from agency mandates to electricity resale. Operational risks, too, must be factored in. Load shedding, water insecurity and municipal inefficiencies remain real challenges in parts of the country. Where possible, invest in buildings or precincts with backup power, water storage, and proactive management. Tenants increasingly demand these features – and they impact rental growth and tenant retention over the long term. The commercial property market rewards insight, not speculation. Success lies in doing your homework: understanding market cycles, selecting growth areas with strong fundamentals and partnering with experienced commercial brokers who can help you unlock long-term value. If you're willing to take a measured approach – guided by real data, local knowledge and sector trends – there are excellent opportunities to be found in 2025 and beyond. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Tourism Breaking News
2 days ago
- Business
- Tourism Breaking News
Accor unveils First Roland-Garros Themed Room in the Middle East at Pullman Downtown Dubai
Post Views: 48 Accor has introduced a unique hospitality experience by launching the first Roland-Garros themed room in the Middle East, located at the Pullman Downtown Dubai. The immersive concept brings together sport, culture, and travel in a distinctive setting designed to appeal to tennis fans and global travellers alike. Speaking at the unveiling, Paul Stevens, COO – EMEA at Accor, emphasized the group's commitment to creating memorable and culturally enriched guest experiences. 'We aim to go beyond traditional hospitality by integrating elements of global events and culture into our offerings. This themed room is a celebration of the Roland-Garros legacy, offering guests a chance to engage with the spirit of the tournament in a completely new way,' he said. The Dubai installation marks the first of its kind in the region, with three more themed rooms set to debut in São Paulo, Tokyo, and France. Through this initiative, Accor continues to push the boundaries of experiential travel, creating spaces that resonate with passion and purpose.
Zawya
04-06-2025
- Business
- Zawya
South African Property in 2025: What Q1 reveals about the road ahead?
The South African property market began 2025 on a cautiously optimistic note. With inflation easing, interest rates holding steady with potential modest declines, and policy shifts making entry more affordable, the first quarter brought fresh energy into a market that showed resilience but little momentum in 2024. Drawing from Lightstone, BetterBond, and FNB data, Paul Stevens, CEO of Just Property, examines where the sector stands today and what we can expect from the rest of the year. A look back: the slow grind of 2024 Last year, the market was shaped by economic pressure and buyer hesitancy. The FNB House Price Index recorded just 0.3% year-on-year growth in October, down from 0.5% in September. Gauteng, the country's largest housing market, saw prices decline by 2.6%. Coastal areas in the Western Cape bucked the trend, buoyed by lingering semi-gration demand. Mortgage volumes began to pick up in Q4, with BetterBond noting a 6.6% year-on-year increase in applications and an 8.1% rise in home loans granted. Rental markets outperformed expectations. National average rent grew by 4.8% year on year in Q3 2024, with the Western Cape leading at 9.3%. Tenant affordability improved, arrears dropped to near-record lows, and average rent remained below 30% of household income. A fresh start: Q1 2025 insights Lightstone's Q1 2025 transfer data offers the clearest picture yet of post-pandemic market normalisation. The High Value segment (R700 000 – R1.5 million) accounted for the largest share of activity: 33.8% of volume and value. The Mid Value segment (R250 000 – R700 000) followed closely at 32.9% by volume, although its share of value was lower at 18.3%, reflecting affordability constraints. First-time buyers remained active in these bands, with 16.9% buying into the High Value category and 16.4% into the Mid Value range. Notably, average spend among first-time buyers was R1.2 million in the High Value band and R557 000 in the Mid Value band, showing a strong middle-market entry trend. A small portion also bought into the Luxury segment (R1.5 million – R3 million), with an average spend of R2.2 million. Regulatory shifts are supporting this momentum. From 1 April 2025, properties priced under R1.21 million were exempt from Transfer Duty Tax. This change, announced in the February Budget Speech, eases upfront costs for many buyers. Transfer Duty, effective from 1 April 2025 (Source: Sars) While the repo rate remained unchanged at 11% in the 20 March monetary policy announcement, the Deeds Office implemented a revised fee structure from 1 April, which includes a new lodgement fee (R50 per deed or document) and the requirement that all fees are now to be paid in advance. Looking ahead: opportunity in the details If inflation continues to slow, rate cuts may resume, enhancing affordability and spurring further buyer activity. Recent announcements from the United States regarding increased tariffs on a range of imported goods could have indirect consequences for the South African property market. Should these tariffs lead to disruptions in global supply chains or increased costs for building materials – particularly those with components sourced internationally – developers may face tighter margins and delayed project timelines. Higher input costs could also place upward pressure on the pricing of new residential and commercial builds, especially in the mid to high-end segments. Investors and developers would do well to monitor this closely, particularly if their projects rely on imported finishes, equipment or construction technologies. Here are my key takeouts for buyers, investors and developers: For first-time buyers: Properties under R1.21 million are now exempt from transfer duty, making this an ideal entry point. Consider the High Value segment for long-term appreciation, but factor in total transaction costs, including new deeds office fees. For investors: The rental market continues to perform well, particularly in the Western Cape. High demand, limited supply, and improved affordability create strong conditions for yield. Consider locations with low arrears and rising rent-to-income ratios. For developers: Keep an eye on supply chains for internationally sourced materials and fittings. Should costs increase, developers should see this as an opportunity to source new suppliers or revisit pricing structures. For commercial buyers: Industrial remains the most promising sector. Focus on logistics and light manufacturing hubs. Office property, while oversupplied, may offer long-term potential in niche or repositioned formats. For all buyers: Monitor inflation, interest rate decisions and potential policy shifts in the second half of 2025. These will shape affordability and investment timing. With Q1 providing a solid start and policy adjustments enhancing affordability, 2025 may be the year the South African property market transitions from recovery to renewed growth. Copyright © 2022 - All materials can be used freely, indicating the origin Provided by SyndiGate Media Inc. (
Yahoo
03-06-2025
- Business
- Yahoo
Pullman Dubai Downtown introduces Roland-Garros Suite
Pullman Dubai Downtown, an Accor property in Dubai, UAE, has unveiled the first Roland-Garros Suite in the Middle East, offering guests a tennis experience. This initiative by ALL Accor's loyalty programme and booking platform allows visitors to experience the essence of the Paris Grand Slam in Dubai. Accor Middle East, Africa & Türkiye Premium, Midscale & Economy Division chief operating officer Paul Stevens said: 'Pullman Dubai Downtown is redefining what it means to 'stay in the game. 'Through our global partnership with Roland-Garros, we're proud to bring this iconic French sporting experience to the region. More than a themed stay, this collaboration celebrates culture and sport in the heart of Dubai, aligning with the UAE's vision to become a global hub for lifestyle, tourism, and innovation in hospitality.' The 93m2 suite at the Pullman property has been transformed to reflect the tennis tournament's tradition, available for a full year. The suite's design includes clay-court-textured walls, tennis-inspired artwork, and photography celebrating champions. It is equipped with a living room, dining area, pantry, and entertainment corner, and guests are greeted with branded towels, bathrobes, and a selection of themed treats. Pullman Dubai Downtown general manager Alexander Musch said: 'This suite is a first for the region. 'We've brought Roland-Garros to life through exclusive design, in-room experiences, and premium service. Whether you're a tennis lover, a design enthusiast, or a guest looking for something special, this is where Dubai meets Paris in the most dynamic way possible.' For those not staying in the suite but wishing to enjoy the Roland-Garros atmosphere, Pullman's Breadhouse Bistro & Bakery is screening the live tournament and offering a tailored menu. Pullman is a brand within Accor, which operates more than 5,600 properties in more than 110 countries. Earlier in 2025, Accor, Valor Hospitality Partners and Investment Corporation of Dubai (ICD) jointly introduced a six-hotel cluster at Dubai Deira Waterfront. "Pullman Dubai Downtown introduces Roland-Garros Suite" was originally created and published by Hotel Management Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Citizen
05-05-2025
- Business
- The Citizen
A guide for property buyers and sellers: This is why your estate agent asks so many questions
Under Fica, estate agents are obligated to establish and verify the identity of their clients before concluding financial transactions with them. When buying or selling property, estate agents usually ask many questions about your financial position. This can be headache for many people, however, there is a compelling reason why this is done. Paul Stevens, CEO of Just Property, said many people are puzzled when they realise how many personal details are required. But there is a clear reason behind the requests for identification documents, proof of address and financial records. ALSO READ: SA's six most popular provinces where people want to live Fica's role in the property sector The Financial Intelligence Centre Act (Fica) was introduced in July 2003 to fight financial crimes such as money laundering, tax evasion, terrorist activities and financing of weapons of mass destruction. 'How, you may ask, does this have anything to do with me buying or selling my property?' Stevens said that before the introduction of Fica, the real estate sector was susceptible to financial crimes, especially money laundering and terrorism financing risks, because criminals were able to use property transactions as a means to easily integrate illicit funds into the legal economy, while creating a safe and often lucrative investment for themselves. Documents needed when buying property He adds that under Fica, estate agents are obligated to establish and verify the identity of their clients before concluding financial transactions with them. 'This means that without Fica verification an agent may not accept a mandate from a seller, nor may they conclude a sale agreement. If they do not comply, then they face penalties and legal consequences.' Common documents requested: A certified copy of your ID document or passport to prove your identity. A utility bill – not older than three months – or lease agreement to confirm your residential address. Your tax number to prove you are registered with South African Revenue Services (Sars). Confirmation of your bank account. Proof of the source of funds to be used to finance the transaction. 'If you are self-employed or run your own business, you may have to supply the agent with supplementary information.' ALSO READ: More South Africans buying houses for less than R700k. Here's why Sharing of documents Stevens said that personal details of clients will be kept safe as estate agents are bound by strict confidentiality. 'Your documents will only be shared with necessary parties, such as the conveyancing attorney handling the sale of the property or the bank processing your bond.' He highlighted that in 2024, the Financial Intelligence Centre (FIC) updated its risk assessment guidelines for legal practitioners and estate agents, significantly expanding the risk factors estate agents must consider in property transactions. 'The revised guidelines, based on insights from the Financial Action Task Force and regulatory reports, outline 13 key risk indicators. 'These include clients refusing to provide identification, accepting third-party payments from jurisdictions with weak anti-money laundering controls, and tenants hesitating to grant agents access to rental properties.' Estate agents in Cape Town Stevens added that the Financial Action Task Force and regulatory reports also highlight the connection between financial crimes and high-value properties, emphasising geographic risks. 'For example, estate agents operating in affluent areas such as Franschhoek, Stellenbosch, Cape Town's Atlantic Seaboard and Constantia are advised to implement stricter measures to mitigate money laundering and terrorist financing risks.' In accordance with the above and with the rules set down by the Property Practitioners Regulatory Body (PPRA) and Fica, estate agents are obliged to report any suspicious or unusual transactions to FIC. 'Such transactions could include reluctance to provide information, unusual funding sources and transactions that appear to be above the client's means. 'Deposits paid by third parties and purchases made in the name of third parties are also red flags.' NOW READ: Thinking of buying your first home, here are five key issues to consider
