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Johannesburg – Despite a difficult business environment, Steyn City Properties CEO Guiseppe Plumari is positive about the future of South Africa.
He was named Business Person of the Year on Thursday evening at the Nedbank Business Excellence Awards 2017, hosted by the Italian-South Africa Chamber of Commerce and Industries in Ilovo, Johannesburg.
The awards, which have been running for 18 years, recognise the contribution of the Italian-South African business community.
This is the first year that Nedbank has sponsored the event.
Speaking to Fin24 by phone on Friday, Plumari said the recognition was one of the highlights in his career.
Plumari was born in Milan, Italy. In 1966, when he was 10, his family moved to South Africa.
He moved back to Milan in 1978 and worked in the construction industry. But he returned to South Africa the same year,
Since then, he has developed luxury homes, shopping centres, industrial and commercial developments. Highlights include the Saxon Hotel, Villas & Spa in Johannesburg, and luxury developments at Shambala Game Reserve in Limpopo.
“Property has always been in my blood,” he said. "We all have something we want to leave behind and do something that will stand the test of time. Property is something tangible."
One of the challenges with property is that you need to take a long-term view, he said. “When you buy property, it takes five to 10 years to realise the potential.”
READ: SA's 10 most exclusive residential estates revealed
Plumari co-developed Steyn City with South African businessman Douw Steyn.
Steyn city is a 800ha development near Fourways in Gauteng.
Dylan Stewart of the Italian-South Africa Chamber of Commerce and Industries, said Plumari was recognised for the success of Steyn City and his emphasis on creating employment for South Africans.
Steyn City was recently ranked second in terms of South Africa's 10 exclusive residential estates.
“In considering our winners, we look at their personal stories, the turnover and recent growth of their companies, public awareness of the company and the candidate’s integrity.
“The entrepreneur must be of Italian origin, and they need to have conducted themselves in a way that enhances the image of the Italian-South African community or facilitates trades between the two countries,” explained Stewart.
Future prospects
Plumari said that he had faith in the future of South Africa. "I love this country. Property is a difficult industry to operate in South Africa during this time, but I love it and I believe in its future,” he said.
While he said that credit downgrades make doing business more difficult, but he believes the political issues will be resolved. “I have faith in the country and that in the future things will come right.”
READ: S&P Global downgrades SA to junk, Moody's places SA on downgrade review
Last week ratings agency S&P Global Ratings downgraded South Africa's long-term local currency rating to BB+ or junk with a stable outlook, and Moody's placed the country on review to be downgraded.
Business confidence has been subdued given the policy uncertainty ahead of the ANC elective conference later in December.
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