Several prominent listed real estate groups have promised tenants they will have water in the event of Day Zero, when the City of Cape Town is expected to turn off the taps. Property groups Growthpoint Properties, Hyprop Investments, Redefine Properties and the Amdec group — which all own or are developing buildings worth hundreds of billions of rand — say they set up water-management strategies years ago. All say they have taken steps to protect their tenants and their shareholders’ interests without relying on the state. Banks such as Standard Bank and Nedbank are also guaranteeing their customers and staff that they will have access to banking facilities after Day Zero. Amdec CEO James Wilson said its development and construction arms had both implemented measures and the company was confident it would be able to operate normally through the crisis. "Our construction division is trying to preserve water by reducing its use. We are trying to get off the municipal supply as much as...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now