Renico Construction Newsletter- August 2024

So much has happened since I penned my last newsletter!

Perhaps the most notable occurrence was the attempted assassination of president hopeful, Donald Trump and shortly thereafter the announcement by President Joe Biden that he would not pursue a second term in office. Parts of Europe are currently tinderboxes and the escalation of conflict in the Middle East should be a cause of concern for the entire world. Even the opening ceremony of the Olympic Games had many hot under the collar when a tableau intended to promote the societal inclusion of all did the exact opposite by offending Christians around the globe.

However, while it seems as if many countries around the globe are in some form of turmoil or crisis, South Africans now find themselves in calmer waters. Most of our politicians appear to still be figuring out the ins and outs of the Government of National Unity, but fortunately some newly appointed ministers have already started to make an impact in their respective portfolios. Hopefully, this breath of fresh air will serve as motivation for all!

As I write this newsletter financial markets worldwide are taking a hammering due to concerns about the health of the American economy with the so-called magnificent-seven stocks on their own wiping off more than a trillion dollars from the Nasdaq in less than 24 hours. With the possibility of the USA economy sinking into a recession, calls are being made for the immediate easing of interest rates. This might bode well for us as history has shown that our interest rates closely follow the same path as the USA's.

I am happy to report that we have, after a lengthy three-year tenure, moved off site from the Brendavere Estate in Fourways. This project is set to become one of the prestigious addresses in Fourways thanks to its modern aesthetics, the large full title stands on which the homes are built and its location at the end of a quiet cul-de-sac. With only two duplex clusters still available to purchase within this development, time is running out to secure a brand-new home at an amazing R2,995m, which also includes bond and transfer fees. If you would like to arrange a private viewing of these properties, contact Andrew on 083 453 5460

Construction to the homes making up our second Riverspray Lifestyle Estate village is earmarked for completion early in September. These homes still offer the best value for money in Vanderbijlpark with full title three-bedroom simplex houses priced from an unbelievable R835,000!

After many months of planning and jumping through municipal administrative hoops we have finally started with the construction of our Fernhill residential project in Bryanston. With almost 50% of the project already sold off-plan, I believe it is only a matter of time before all twenty-eight units are sold.

We have also cleared our next residential site in the exceedingly popular suburb of Albertsdal which is located within a short five-kilometre drive to the Alberton central business district. Construction to the ninety-six home iThemba site is planned to commence in September with the estimated completion date set in quarter two of 2025.

With the recent completion of infrastructure and bulk services to the remainder of Van der Hoff Park Extension 72 in Potchefstroom, we have 'unlocked' a further three residential sites for future development. Combined the three sites total 31,874m² on which a maximum number of 128 residential units may be built.

Contact Johan on 083 626 6660 if you require more information on this opportunity.