SA commercial property market offers substantial opportunities
The commercial property market in South Africa has experienced a boom period in recent years, judging by the performance of the country's two largest cities - Johannesburg and Cape Town. The South African commercial property website reports that over a ten year period, these two cities recorded the strongest growth in property values around the world, of 7.5% and 9.5% respectively.
These statistics clearly illustrate that there are substantial development opportunities in the South African commercial property market for companies that understand core intricacies, and have the requisite expertise and knowledge to deliver both short and long term value.
Growth will continue
Gaye Corbett, chief financial officer of Tintswalo Property Group believes that the growth noted on the commercial property website will continue, and uses its own developments as proof of this, with over five managed and developed properties in Johannesburg and Cape Town over the past ten years.
A central reason for the company's success is their commitment to always go beyond property management and development. Further to providing its investors and tenants with viable and well-planned developments, it also aims to increase asset values which enhance the areas in which they are located. This subsequently results in adjoining communities benefiting from projects that aid their development.
"As Tintswalo Property Group is a family founded and run business, we believe that we have a personal touch that is not always achievable in the corporate environment, one which allows us to be more effective and professional in the management and development of retail property. It also means that we are able to see the greater picture, and we therefore incorporate a business model that directly benefits the lives of community members who reside near our developments."
Adapt to new trends
Corbett notes that their success has been built on the ability to consistently absorb new information, and adapt to trends within the property management space. She adds that the capability to provide successful residential and retail development in a constrained market ensures that it exceeds the value offering of competitors.
"Owing to the impressive results of the South African commercial property market in recent years, we maintain that substantial opportunities will gradually become available in the near future - including greater viability of the property market in other provinces," concludes Corbett.
