Renico Construction Newsletter- September 2022

All indications are pointing to the fact that winter has ended abruptly and South Africans can look forward to longer days filled with abundant sunlight and blue skies. At the other end of the globe, the Northern hemisphere is entering the winter months with most European countries grappling massive increases to their monthly energy costs. Inflation in the nineteen countries bound by the Euro rose to a record high of 8,9% in July with a bleak outlook of further increases to the rate in the months to come.

On the home front South Africans can look forward to an estimated decrease of at least R2 per litre in the petrol price this coming Wednesday. This is a welcome reprieve for all, but as the Rand slipped against the US Dollar this past week, the decrease may only be temporary. High fuel and energy prices have a major impact on inflation rates and for as long as we are overly reliant on fossil fuels, this will affect all global economies.

FEATURED RESIDENTIAL PROPERTIES

The first roofs have been erected at Ndalo in Albertsdal  and we are now aiming to have a show unit completed as quickly as possible. Once completed, the home will be stylishly furnished to give prospective clients an idea of what their future home will look like. Sales are regularly concluded, and I am happy to report that we are nearing the 50% sold out milestone.

The installation of bulk water, sewer and stormwater services at the Fernhill site in Bryanston is well under way, but we are struggling to obtain the last of our long overdue approvals from the City of Johannesburg which will enable us to enrol the project with the NHBRC. I expect to have all approvals in hand by no later than end-September with construction of the twenty-eight homes commencing shortly thereafter.

With the finishing touches being applied to both the Mooi Land and Welverdiend homes within the de Land Estate in Potchefstroom we are looking forward to our new owners taking occupation of their brand-new homes at the end of this month.

My Planning Department is busy finalising the plans on the last remaining stands within the Brendavere Estate in Fourways. Once we have received approval from Council, the construction of these homes will immediately commence. By year-end all 83 homes within this stunning security estate will either be occupied or under construction to be completed by early 2023, putting an end to a project that we started back in 2019.

FEATURED COMMERCIAL PROPERTIES

With less than two months to go to the opening of the Vyfhoek Retail Centre in Potchefstroom we have both the Sportsman's Warehouse and Jonsson Workwear teams on site, ready to commence with their tenant installations. We are also welcoming Mr Price Home to the Centre who plan to start trading on 1 December. Construction to the Top Dog Pub & Grill, earmarked for an early 2023 opening, has also commenced. Watch this space for more exciting information on this project!

LAUNCHING SHORTLY

Our Plant Hire division is being kept busy at the Rainhill site in Linden, Randburg, where they are demolishing the existing buildings to make way for seventy-seven brand new apartments. The development will offer one-, two- and three-bedroom homes with either single or twin bathrooms. All ground floor homes will also have walled and pet friendly gardens! Construction is due to commence in the coming weeks with the completion date set for the second quarter of 2023. Contact Carel on 082 924 6481 for more information or to book a one-on-one appointment.