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First Gupta house under the hammer – property apparently occupied by controversial ANC secretary general Ace Magashule’s son

Posted on November 11, 2019 by SA-Radio Leave a comment

The first of a number of homes in Saxonword that belong to the Guptas is auctioned by the Park Village auctioneers.

The property was occupied by the son of the First Gupta house under the hammer – property apparently occupied by controversial ANC secretary general Ace Magashule’s son, who initially refused to leave the premises.

Law enforcement officers, however, threatened the Magashule with steps because of its legal obstruction.

The residential unit located in Avonwold Road will go under the hammer on Monday, November 18, and the luxury space, which covers more than 1,100 square meters, is expected to sell for a considerable amount.

Neighborhood housing prices range from R3m to R20m, and are considered one of the most sought after parts of Johannesburg.

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Prasa may lose 13 unused locomotives worth R2.6 billion due to dispute over ownership

Posted on September 10, 2019 by SA-Radio Leave a comment

The thirteen locomotives that are not suitable for driving on the South African rail network because the huge machines are too high will now become a dispute over whose property it is.

The 13 Afro-4000 locomotives are now in the balance and Prasa will have to fight to make them his property, informed sources said.
The extremely expensive locomotives generated prominence when it became known that they were too high to move on certain rail lines, for which they were purchased.

The amount of R2.6 billion is up for grabs and will probably have to decide in court who owns Prasa or Swifambo.

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Johan Rupert, SA’s most well-known billionaire suffer R300 million lost after robbers stole jewelry

Posted on August 14, 2019 by SA-Radio Leave a comment

Billionaire Johan Rupert’s negative view of South Africa is likely to be further strengthened only after armed thieves stole millions of rand worth of property.

The information was released by the Sunday Times, which reported that nearly R300m worth of jewelry was stolen this past Friday night.

The thieves stole watches, diamond mounted pendants, earrings and other items from the Rivonia premises after the security personnel were tied up.

The jewelry was apparently earmarked for luxury companies in Sandton under the protection of the Rupert family.

It is alleged that a special investigative team has been appointed to detect the villains, but doubts exist as to whether this will happen soon. It is not known whether the goods were insured against theft.

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Political condition of SA compels owners to get rid of properties in wealthy suburbs of Cape Town – prices are now down to 50%

Posted on August 12, 2019 by SA-Radio Leave a comment

Property prices in the rich suburbs of Cape Town have dropped by up to 50% of the initial selling price. Sellers in neighborhoods like Constantia and the Atlantic have dropped their prices between 20% and 50% in an effort to get rid of the property.

Real estate brokers report that the slightly upward flash after the election was overtaken by reality with a 15% decline in valuations.

Homes in the upper segment of the market were usually sold within 75 days while the trend is now 126 days. Even at the popular Waterfront Marina, property prices fell 24% this year alone.

Experts are wary of linking the country’s political situation to the trend, but the demand for homes, even in Cape Town, has declined because of the uncertain economic and political climate of rough South Africa.
-Vryburger

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