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Transformation of property sector 'essential'

Jul 01 2016 19:16
Carin Smith

Johannesburg - The transformation of the property sector is essential for its sustainability, according to Nomzamo Radebe, President of the SA Property Owners Association (Sapoa) and also CEO of JHI Properties.

Sapoa is the representative body and official voice of the commercial and industrial property sector in South Africa and has about 1 200 members.

"We are committed to the principles of social and economic transformation and empowerment on all levels. Sapoa will continue to pursue these objectives, work with industry partners, and support our members in achieving greater transformation," she said at the recent 50th Anniversary Convention of Sapoa.

"The property industry needs more transformation, as is the case with other economic sectors in our country. I feel positive that there is a greater awareness now, compared to the past, that the industry should be inclusive and open to previously disadvantaged individuals and communities."

Radebe is pleased that the Property Sector Codes are now in place. She encouraged all in the industry to remain committed to the objectives and the intended spirit of transformation in the industry.

She said property touches the life of every South African. It is a unique, complex and multi-disciplinary industry.

"The real estate sector is a dynamic and valuable contributor to our economy. It is constantly evolving and becoming more sophisticated. Especially now, in tough economic times where we are compelled to find new ways to make property investments continue to outperform other investment classes," said Radebe.

In her view Sapoa has an important mandate to promote, among other things, relevant education and provide meaningful research. Sapoa has, for example, chosen the University of the Witwatersrand (Wits) as its strategic partner to provide the industry with real estate courses.

In May 2015, the Services Seta partnered with Sapoa, contributing a R40m grant to sponsor 100 students across South Africa with bursaries for a four-year degree in property-related studies. With the addition of the 55 bursary students funded by this grant, the compliment of students being sponsored by Sapoa has now increased to 88.

sapoa  |  property  |  sa economy
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