Cosmo housing model shines
Business Report - South Africa
Cosmo City, a R2-billion combination of bondable and low-cost housing northwest of Johannesburg, is attracting buyers from all race groups and walks of life, making it a model for the government's integrated housing plan.
A 1,200ha development in North Riding, within easy access of the N1 and R28 highways to Pretoria and four major shopping complexes, the project is being co-ordinated by the Gauteng provincial government and the City of Johannesburg.
Ultimately incorporating 12,500 units, Cosmo City was originally an informal settlement, which was transformed with the provision of streets and lighting, paving the way for the first fully integrated housing estate in South Africa.
LegalIt - UK
Next week, senior figures in the conveyancing industry and the Office of the Deputy Prime Minister (ODPM) will be calling for the adoption of a common data standard to ensure that the government's Home Information Packs (HIPs) initiative is not stymied by incompatible IT systems.
Violence fears over land claims
News24.com - South Africa
Cape Town - There are fears of violent confrontations with landless people if the government doesn't move swiftly in settling outstanding land claims, says an official.
Andre Andreas, legal officer in the office of the chief land claims commissioner, said this in an affidavit lodged in response to a bid by the Richtersveld community to get government to pay its legal expenses in its marathon land claim.
The R5m funding application was scheduled to be heard by Judge Antonie Gildenhuys in the Land Claims Court in Cape Town on Monday. The Richtersvelders said the government was under a constitutional obligation to ensure that they were able to pursue their claim properly, with all the legal and expert assistance they needed.
Sectionalisation an increasing trend in SA property market
Eprop - South Africa
Sectional Title developments, especially those in the industrial and commercial sectors, are on the increase in South Africa due to the market being characterised by a lack of available quality stock. This is according to niche property investment company, Bales Delaporte.
"Due to the residential market coming off a solid growth phase and the commercial market just entering its growth curve, interest in the commercial sector is at an all-time high," says Bales Delaporte.
PGP reports sales of more than R10 billion
RodneyHayter.com - South Africa
Closing fast on its 30th year in business, the Pam Golding Property group reports "exceptional growth" having more than trebled sales turnover and doubled unit sales over the past four years, according to a Cape Town November 9 press release.
The group reports residential property sales of more than R10 billion and unit sales of 10 363 units in the period from January to October 2005.
Cosmo housing model shines