{"id":26429,"date":"2013-12-18T04:55:37","date_gmt":"2013-12-18T02:55:37","guid":{"rendered":"http:\/\/www.myza.co.za\/2013\/12\/e-tolls-help-property-developers-defy-trends\/"},"modified":"2013-12-18T04:55:37","modified_gmt":"2013-12-18T02:55:37","slug":"e-tolls-help-property-developers-defy-trends","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/e-tolls-help-property-developers-defy-trends\/","title":{"rendered":"E-tolls help property developers defy trends"},"content":{"rendered":"

<\/p>\n

Despite a PricewaterhouseCoopers (PwC) report this month pointing towards an ailing South African construction industry, a few developers, such as Johannesburg-based Krisp Properties, have astounded investors by defying the trend.<\/p>\n

Krisp\u2019s portfolio has been boosted in 2013 by the increased interest in Johannesburg\u2019s planned OR Tambo Aerotropolis, with high profile companies such as Michelin SA moving its headquarters to Krisp\u2019s state-of-the-art R500-million Clearwater Office Park across the road from the aerotropolis.
\nMeanwhile, the implementation of e-tolls in Johannesburg has seen the company\u2019s planned 9,000m\u00b2 neighbourhood shopping centre and 114 residential unit development along the R55 (12 hectares of land called Olievenhoutbos Ext 47) \u2013 a popular new alternate route for motorists avoiding e-tolling \u2013 substantially gain in value.<\/p>\n

Krisp Properties executive director Jordan Mann said the company had fared very well despite the challenging economic conditions highlighted in the recent PwC SA Construction Survey, and was looking forward to even better growth in 2014.<\/p>\n

\u201cWe have found that there is increasing demand for top-class developments whose location has been carefully plotted and which have cutting-edge design and finishes,\u201d said Mann.<\/p>\n

Michelin SA moved its 120-strong staff compliment into the new AAA-grade purpose-built headquarters at Clearwater Office Park earlier this month. The new headquarters was convenient for staff, said Michelin, because of the lifestyle amenities such as a restaurant, gym and tennis courts available at the office park. But the proximity to the aerotropolis was also a major draw card, it said.<\/p>\n

It joined other tenants at the 20,000m\u00b2 (GLA) office park, including Discovery Health, Old Mutual, ABSA Bank and Imperial Air Cargo. Given the demand, Mann said the company was already planning a third phase: 28,000m\u00b2 of additional office space set for development in the second half of next year.<\/p>\n

In Cape Town, Krisp\u2019s 5,000m\u00b2 pedestrianized shopping centre alongside the busy Langa train station also received the green light earlier this year.<\/p>\n

\u201cThe railway has been upgraded and is in fact a First World station. Langa Junction is a very nice fit for the station itself,\u201d said Mann, adding that he hoped to have the centre completed by the second half of next year [2014].<\/p>\n

The approval comes alongside plans by the City of Cape Town to invest in pedestrianizing the area with paving and landscaping the station forecourt and access roads.<\/p>\n

\u201cGiven the strong demand for our developments this year, we are anticipating solid growth during 2014 as the construction industry begins to recover along with the economy, and as many of our developments begin to come to fruition,\u201d said Mann.<\/p>\n

Krisp Properties is also the latest high-end developer to invest in the increasingly sought-after light industrial space between Johannesburg and Pretoria, which has seen a host of established companies flocking to a new light industrial hub in Olifantsfontein, between Johannesburg and Pretoria and 20 minutes from OR Tambo International Airport.<\/p>\n

Due to the high demand for industrial space, Mann said, Krisp was developing a \u201csafe light industrial space in the area\u201d. The company is in the advanced stages of developing the Olifantsfontein Industrial Park along Olifantsfontein Road.<\/p>\n

The company already boasts successes which include Randburg Office Park, Ebony Park Shopping Centre in Midrand and Sandton Office Park.<\/p>\n

\"Krisp's<\/p>\n

Krisp\u2019s planned Olive Wood Shopping Centre in Olievenhoutbos, along the R55 in Johannesburg which is increasingly being used as an alternate route to the e-tolled highways.<\/p>\n

Related ……<\/h3>\n