The 193 unit development, offering 2 Bed, 2 Bath walk-up type units is 100% sold-out, and we are building to hand over the units on 25 July 2015.ĭuring February and March we will be launching the 89 unit Lucca development in Tlokwe (Potchefstroom), the 186 unit Ponders End site in Helderkruin, the 156 unit Park Royal development in Wilgeheuwel, the 45 unit Chelsea complex in Dawnpark, Boksburg and a 106 unit Protea Glen Estate development in thriving Protea Glen. One of the biggest surprises we have had at Renico Construction is to launch a large site and have it sold-out within just a few weeks! This was the case at our Elmers End project along Witkoppen Road in Noordhang. This site is ahead of schedule with occupation set for 25 April 2015. Sales have been slower on these, but all developments are at least 50% sold at this time.Īt Northumberland Park in Northriding, sales on the 96 unit development are now also well advanced. Our smaller more upmarket developments of Syon, Woodlands and Sundowner Stars have been honed for home ownership. Our 56 unit Enfield site in Olivedale has also been sold out to end-user buyers, and we have commenced construction on the units. The sites hand-over is set for 25 March 2015. Our 194 unit Manor Park development in Randpark Ridge Ext 130 is now completely sold out, with my construction teams doing an excellent job in completing the development on time. Population growth has never declined in South Africa, and is certainly not likely to do so in the near future, and people need homes! At Renico Construction we have seen the demand for well-built residential rental stock increasing steadily month on month. As the world economy slows down, there will be an escalation in the demand for rented property far exceeding the rate of inflation.
They have the foresight to know that very soon, as the banks tighten up on credit extension, property ownership will become more difficult.
With all the doom and gloom around, we now see the astute property investors buying rental investment stock. The seasoned developers and property investors will confirm that great opportunity knocks in times of great challenges. Renico Construction | Email Newsletter - Summer 2015 View this newsletter onlineĪs Dolf de Roos once said "the most valuable real estate is the 6 inches between one's ears"!Īfter the relaxing December builders' holidays, 2015 pounced on all of us, bringing with it a maze of legislative bottlenecks, huge operating expenses, falling crude oil prices, and looming Eskom blackouts, which will all impact on the property landscape going forward.
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