Partnership with CBRE opens way for property services group Excellerate to compete with larger rivals
South African company opts for joint venture with the world’s largest property services provider
Excellerate, which provides property management services for a third of SA’s shopping centres and a number of offshore companies, has created a joint venture with the world's largest provider in that field, CBRE. This will enable it to access North Africa and the Middle East for the first time in a partnership that will generate $100m (R1.37bn) in revenue a year. Excellerate Property Services CEO Marna van der Walt said the joint venture would help the SA group to compete with large property service providers like Broll across a wider spectrum of commercial property markets. Van der Walt’s unit is a business within Excellerate Holdings. The unit has 345 retail centres under management. “We have grown substantially in the past five years and will now get exposure to North Africa and the Middle East where there is growing demand for property management services especially for occupiers of buildings, that are of the same standard as that in SA, the UK and so on,” she said. She said Exc...
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