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Court action halts beach walkway plan
The Herald - South Africa
The body corporate of the exclusive Summer Seas development on Pollok Beach is taking legal action against the Nelson Mandela Bay municipality for its plans to construct a public walkway on what the homeowners believe to be private land.

Construction of the walkway has since been stopped in front of Summer Seas, as a dispute has been declared and the matter is now in the hands of the two parties' legal teams.

Municipal environment and waste management business unit manager Dr Paul Martin confirmed yesterday during an environment and health services committee meeting that the two parties were locked in a legal battle over the issue.

This was after councillor Elizabeth Trent brought the issue to the committee's attention.
EP Herald

House price growth lowest in years
BusinessIafrica.com - South Africa
April saw the lowest year-on-year nominal house price growth since January 2000, Absa said on Thursday.

According to the bank's latest House Price index, nominal house price growth of 12.8 percent year-on-year was recorded in April 2006 compared with a growth rate of 13.7 percent in March. In January 2000 the growth stood at 11.8 percent.

Major BEE deal signed under Property Charter
Mail and Guardian - South Africa
Less than two months after the Property Charter came into effect, Asset Alliance -- holding company of both South Africa's largest auction and valuation companies, Auction Alliance and Valuation Alliance -- on Thursday signed a black economic empowerment (BEE) deal at a company value of R100-million, the biggest deal in the sector to date.

The shareholders of Asset Alliance have sold a 25% stake in the business to Amabubesi Investments (20%) and Bamaka Investments (5%). As part of the deal, both BEE shareholders will play an active strategic and management role in Asset Alliance. Both groups will also have a combined voting right exceeding 25%.

Amabubesi is one of the country's leading BEE companies. It is primarily an investment company and currently owns a stake in various listed and unlisted companies in South Africa. It is headed by chairperson Bulelani Ngcuka and CEO and founder of Nkonki, Sizwe, Ntsaluba, Sango Ntsaluba.
Mail and Guardian

Gautrain land grab begins
BusinessIafrica.com - South Africa
The proclamation and expropriation of land for the Gautrain project has begun, the Gauteng public transport, roads and works department said on Thursday.

"This is truly a milestone towards the implementation of the Gautrain project. We have been involved in the planning and negotiations for quite some time now and at last people will be able to see the project moving forward," MEC Ignatius Jacobs said in a media statement.

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