PROPERTY DEVELOPMENT
First phase of Redefine’s Loftus precinct nears completion
Redefine Properties is on the verge of completing the development of the first phase of Loftus Park, a new residential and business precinct in Arcadia, Pretoria, which is looking to benefit from increased commercial activity in the city. The city is experiencing its biggest development boom in decades in suburbs such as Arcadia, Menlyn and Hatfield. Redefine inherited the development when it bought The Pivotal Fund in 2016. "Redefine’s share of Loftus phase one and two is R598m," said CEO Andrew Konig. The development will help the company to enhance its exposure to office workers in Pretoria. Redefine follows the likes of Emira, which recently invested in the upcoming Menlyn node. Emira Property Fund’s chief operating officer, Ulana van Biljon, said various listed property fund companies were building in Pretoria. Loftus Park would be developed with the expertise of Abland. Pivotal had been listed by Abland, which provided it with a pipeline. Through buying Pivotal, Redefine had m...
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