We are paying more for fewer or no services, says Growthpoint
SA’s biggest commercial property owner says objections to high municipal rate increases are disregarded
02 November 2023 - 05:00
SA’s biggest commercial property owner, Growthpoint, has decried the breakdown of relations between local government and property barons, saying objections to high municipal rate increases when services deteriorate are disregarded and service requests get ignored.
Group CEO Norbert Sasse told the group’s shareholders that municipalities continue to levy above-inflation cost increases while their service quality declines and this was eroding returns for property owners...
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