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Transformation in property industry gaining momentum

27 Jun 2016

SA's listed and unlisted property companies' efforts to cultivate skills in an industry that has been slow to transform, are starting to gain momentum.

Transformation in property industry gaining momentum

Newly appointed South African Property Owners' Association (SAPOA) president, Nomzamo Radebe, said on Thursday, 23 June, that the organisation's bursary fund had performed well in 2015.

"The SAPOA Bursary Fund is another tool that tackles the skills shortage in the commercial property industry and in our country at large. This initiative is a passion for me, having been a bursary student myself more than 20 years ago," said Radebe.

Radebe is CEO of real estate manager JHI Properties.

"As the chairperson of the bursary fund since its inception, I have been fortunate to see the 33 students that it has funded over the years succeed and prosper in their own right."

She said of the 33 students funded, only two had failed.

In May 2015, the Services Seta (Sector Education and Training Authority) partnered with SAPOA, contributing a R40m grant to sponsor 100 students across SA with bursaries for four-year degrees in property-related studies.

"With the addition of the 55 bursary students funded by this grant, the complement of students being sponsored by SAPOA has now increased to 88. We continue to aspire to reach the targeted number of 100 students," said Radebe.

She said the property industry needed more transformation, as was the case with other economic sectors in the country.

"I feel positive that there is a greater awareness now, compared to the past, that the industry should be inclusive and open to previously disadvantaged individuals and communities. I am pleased that we have the Property Sector Codes in place. With the delays on the alignment of the Property Sector Codes, I encourage us all to remain committed to the objectives and the intended spirit of transformation of our industry," said Radebe.

Source: AFP

Source: I-Net Bridge

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