Periscopic Property Management, Masingita Group merge

L to R: Mark Souris and Mike Nkuna

Periscopic Property Management was founded in 2002 and, since then, the organisation has steadily built a reputation in property management, with a particular focus on the complex industry of urban and rural retail properties. Periscopic Property Management is managed by some of South Africa's most respected and experienced property management experts, who oversee an extensive team of highly qualified, capable professionals.

The company places high value on its cohesive culture of sincere, committed partnerships with its clients, often adopting an approachable and informal philosophy. The company's ethos includes the mantra of "as if it's our own", which translates into excellence of service and standards.

Periscopic's operations have proven to be the perfect partnership for the Masingita Group of Companies. "Our relationship with Masingita goes back several years, as early as 2004, when we were commissioned to manage a major development of theirs together with Resilient, namely Jabulani Mall. We immediately both recognised the mutual benefits of our two companies collaborating and enhancing each other's capabilities through our own unique skills," said Mark Souris, MD of Periscopic Property Management.

A veritable gold mine of opportunity

"From day one, we have had a great, positive relationship with Masingita, both professionally and personally. We began working with them on more and more significant projects, until our two businesses had become quite intertwined. Masingita's wide-ranging portfolio of projects is a veritable gold mine of opportunity for Periscopic really to be able to show our capabilities in the field of retail commercial property management, and we've seen success after success, which bodes very well for the future of our partnership."

Founded by Mike Nkuna in 1983, who now oversees the business as CEO, Masingita encompasses an impressive portfolio within the South African property development and construction industries.

"Our connections within various communities, as well as across a wide range of political areas, give our already successful group of companies the potential to grow exponentially in the African market. With Periscopic's expertise added to the mix, we can really take both businesses to another level. They provide an integral missing link to our formula for success at Masingita, and this is what sparked our initial conversations with regards to merging companies," Nkuna explained.

The 100% black-owned Masingita holds a Level-3 BEE status, received from the Empowerdex rating agency. The group's primary area of focus lies within urban and suburban areas, including townships and rural areas, which afford a myriad sustainable, niche prospects, as well as provide ample opportunity for Masingita to enhance local and rural economic development.

The organisation has also expanded into the expanded property markets across Africa, within both governmental and private sectors. "We are certainly eagerly anticipating the future opportunities our partnership with Periscopic will present, and believe that the mutual benefits of our collaboration are endless," concluded Nkuna.