Property industry is on the cusp of real transformation
Developing SMEs, and the industry working closely with the government and its agencies, will raise the value of property in the hands of the black majority
The SA property industry is on the cusp of real economic transformation of the sector through small and medium enterprise (SME) development. The industry’s biggest players will have a chance to contemplate how to accelerate this transformation at the industry’s biggest annual gathering, the SA Property Owners Association (Sapoa) conference in Cape Town this week.
The Property Sector Charter Council (PSCC) says the sector is making reasonable efforts towards transformation, but it needs to accelerate its efforts. Its “State of Transformation Report” released last year found that the sector had achieved excellent scores in enterprise development and socio-economic development, and scored well on ownership and preferential procurement; but it scored poorly in skills development and management control, as well as employment equity and economic development.