The owner of upmarket Rosebank Bolton apartments, Emira Property Fund, says it spent R16.6 million in diesel in the six months to December 2022. | News24_Business
, says it spent R16.6 million in diesel in the six months to December 2022. Although the landlord's operations in South Africa are smaller than those of its competitors like Redefine and Growthpoint, it said everyone is reeling from the negative impact of load shedding.
"Of course, that brings additional costs to our tenants and businesses," said Emira COO Ulana van Biljon. Emira is also worried that with the elevated demand for diesel, as load shedding intensifies, its prices will climb. "Solar, together with batteries, will make sense in the longer term, but we are not there yet. Our solar interventions have been fantastic. They saved the grid. But during load shedding, we can only use generators … Batteries are being tested that look like they might be able to justify switching," said Emira CEO Geoff Jennett.A deep dive into the big business story of the week, as well as expert analysis of markets and trends.
"This is despite the fact that the office sector is still under pressure. We've said before that we believe the office sector can only really improve if we've got good economic growth. We really need that. Businesses also need to understand where the economy is going because that influences their office strategies," said Van Biljon.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Lotus Emira is an all-season thrill rideThe sporty but civilised coupé closes the petrol-powered chapter for the British carmaker
Read more »
Durban gambler jailed for R16 million fraudAn export controller in Durban has been slapped with a jail sentence in a multi-million-rand fraud case. 😮 ECRNewsWatch KZN
Read more »
Gambling Addicted Durban Woman Defrauded Companies Out Of R16 MillionA woman from Bluff in Durban was charged with fraud totalling about R16 million and sentenced to nine years imprisonment yesterday.
Read more »
Invasive beetle to hit municipalities and property owners where it hurts | News24Roughly the size of a sesame seed, the tree-killing beetle could end up costing the country hundreds of billions of rands if nothing is done to manage the infestation of PSHB. | ThePeoplesPost
Read more »
Weather warning: Another week of downpours hold severe risk to property, people | The Citizen⚠️Heavy rainfall is expected this week which could lead to flooding in several parts of the country☔ joburgfloods kznfloods TheCitizenNews
Read more »
Green energy fund to invest R1 billion a year in solar power for South AfricaThe fund will also allow investors to benefit from a tax deduction as high as 100%.
Read more »