Renico Construction- April Newsletter
Category Company News
The arrival of the 1st day of April is usually celebrated with practical jokes being played on unsuspecting 'victims'. One of the funniest jokes shared this year was the cancellation of Aprils Fools as no far-fetched joke can trump the circumstances we currently find ourselves in. Fact is indeed stranger than fiction!
With the ongoing turmoil in Eastern Europe and still no sign of mediation, the world economies will continue to experience the knock-on effect in their own economies for months to come. The South African economy will not be spared and we have just dodged the proverbial bullet of a large fuel price hike as government announced measures to absorb R1,50 of the increase in the price of petrol by reducing the general fuel levy. This is unfortunately a temporary measure which will lapse at the end of May 2022. However, it will reduce the negative effect a large fuel hike would have had on the inflation rate, something the government is serious about.
Another measure implemented by government to curb the rise in inflation is to increase the repo rate. We are currently in an upward cycle and all recent increases have been small ones of 25 basis points. We can expect a few more increases this year but if all things remain equal, they should not exceed a 25 or 50 basis point rise at any single time.
FEATURED RESIDENTIAL PROPERTIES
Just as we completed and handed over all nine homes within the 1st phase of the Mooi Land project in the de Land Estate in Potchefstroom, we went full steam ahead to commence and complete all homes within the final phase of the development. Once construction to both the Mooi Land and Welverdiend projects within the de Land Estate is concluded, we plan to move to our next residential sites adjacent to our Vyfhoek Shopping and Retail Centres in Van Der Hoffpark
With all the roof structures up at our Featherstone project in Craighall; construction will no longer be hampered by the late rainfall currently experienced. The 30-unit development is quickly taking shape into the stunning residential complex it was originally set out to be.
Not only have we experienced an uptick in sales of full title stands within the Riverspray Lifestyle Estate in Vanderbijlpark, but we are also down to the last two completed homes still on offer. This is not an opportunity to be missed if you wish to escape the rat-race and secure your slice of tranquillity on the Vaal River.
During the past weekend, yet another three owners took occupation of their brand new Brendavere Estate homes in Fourways. We extend them a warm welcome and wish them many happy memories as they enter the next chapter of their lives. The following weeks will be extremely busy as we push to complete another twelve homes within the estate to have them ready for occupation at the end of next month.
Photo of Brendavere
LAUNCHING SHORTLY
We are in the final phase of preparations before we launch our Ndalo development in Alberstdal, Alberton. The 76-unit development will offer two and three bedroom simplex homes, all with walled and pet friendly gardens! This is an excellent opportunity to secure a modern and stylish family home within a security complex, perfectly positioned and in close proximity to the R59/Sybrand van Niekerk Freeway and the Alberton CBD.
Author: Nico Louw
