News Articles

Stormwater Management Key for Urban Development

With the ever increasing densification of urban areas, the call been for more comprehensive `Stormwater Management Plans by the various Local Authorities, and in an effort to mitigate against the aggressive rate at which stormwater is discharging into watercourses as a result of this, increase in impervious cover.
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Environmental Sustainability Vital for Development Success

SiVEST Environmental teams in Johannesburg and Durban continue to play key roles in development application approvals and construction processes.
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Property Development Rights

It has been commonly accepted that South Africa has over the past few years experienced an unprecedented boom in property values. The buoyancy of the market has led to many investors and end users gaining confidence in property as a sound investment.
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THE NEW KWAZULU-NATAL PLANNING AND DEVELOPMENT BILL

The Department of Governemnt and Traditional Affairs, in association witha team of legal experts, tabled the KwaZulu-Natal Planning and Development Bill.
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Sivest Online Brochre and Awards

2010 Annual PMR Africa Construction Business Leaders and Achievers Award ? Recipient of ?Excellent 2nd runner up National Survey on Consulting Engineers Award?
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SiVEST News

Property Development Rights

The new credit act and recent interest rate hikes have curbed speculative investments and sales resulting in a slower rate at which properties are acquired and disposed of.  "Investment in property and property development will still continue.  With the higher cost of borrowing money and additional credit requirements, investors are more cautious of the "costs" in acquiring development rights."  says SiVEST Director, Kavi Soni.

Property sales advertisements use the term "possible business rights". "can be developed for business purposes", "has existing rights" or "close to existing industrial development".  These phrases are at times loosely used and misunderstood which has  led many a purchaser into a sale which ultimately results in "the investment of a lifetime" often becoming their greatest nightmare!  The acquisition of property rights or development rights is not straightforward nor guaranteed.  The applicable legislation, time periods associated with the limited capacity at local authority and provincial government level, objections and due process, all have an impact on the acquisistion of rights and the viability of property development.  It is worth noting that a property owner can make a development application, however, the local or provincial authority is not obliged to approve an application.  Whilst you have the right to apply, the Authority is not obliged to approve!

"It is therefore recommended that prior to commencing with a development application or committing funding to a development,  it would be prudent to investigate the prospects of a successful application with a specialist in the development field.  Also ensure familiarity with the applicable legislation and associated processes, factor in the holding costs of the time frame milestones to be achieved, and then make an informed decision."  stated Kavi Soni.  

Property investment and property development is not straightforward and there are no guarantees!


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