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Urban Innovations negotiates six leases in River North office buildings
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Cape Town Station gets facelift as work finally begins on hotel, office complex
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NATIONAL NEWS - Passenger Rail Agency of South Africa (PRASA) chief executive officer, Zolani Matthews has committed to addressing vandalism and the general state of neglect and maintenance at the agency through various interventions.
These includes the appointment of dedicated bid committees to process the capital programme, appointment of panel of contractors who will be on call to ensure quick turnaround and recovery, whilst also strengthening the agency’s programme management unit to provide monitoring and oversight.
“The 2019 annual station condition assessment report showed that a total of 66 commuter stations across the country were in a poor condition, whilst the 2021 report reflects an increase of up to 250 stations that are now in a poor state due to escalated levels of theft and vandalism.
The International Finance Corporation (IFC) of the World Bank IFC today announced financing for a new investment platform managed by South Africa’s Eris Property Group.
The financing aims to boost the development of affordable, quality, and resource-efficient student accommodation in South Africa, especially for low-income students.
IFC’s 150 million rand ($10 million) equity investment in Eris’s South African Student Accommodation Impact Investments Proprietary Limited platform will help Eris develop and operate accommodation for up to 15,000 students over the next five years, helping meet soaring demand.
IFC has also committed to helping Eris, a leading property developer and real estate fund manager, raise additional funds for student accommodation from other parties.