COMMERCIAL STATSCommercial Property Returns Slow Industrial Property Top-Performing in The Sector Total return index Total return Income Capital Annual growth total (Dec 2014) 1 year return 1 year return 10 years (Dec 1994 =100) 1 year 4.0% 5.1% 17.2%All Property 1, 721.8 12.9% 8.7% 2.4 %Retail 2, 255.7 13.3% 7.9% 3.9% 17.6%Office 1, 140.2 12.1% 9.5% 1.5%Industrial 1, 888.0 14.1% 9.9% 16.2%Other 1, 878.5 10.3% 8.7% 19.6% 14.3%www.reimag.co.za RESOURCES 49 IPD South Africa Annual Property Index, International Property Databank (IPD), MSCI MAY 2015 SA Real Estate Investor
FINANCEUtilizing The eThekwiniUDZTax Incentives Boost DurbanCommercial Buy-to-let MarketBY MEGAN DIENERNational Treasury extended the Urban Street, Berea Road, Carters Avenue, Canongate Road, Development Zone (UDZ) tax incentive last Warwick Avenue, Centenary Road, Carlisle Road, year until March 2020. First Avenue, Stamford Hill Road, Croydon Road. This incentive (which falls under section 13 quat Walter Gilbert Road, Cobham Road, Old Fort Road,of the Income Tax Act - No. 58 of 1962) regenerates NMR Avenue, Somtseu Road, Stanger Street, Argyleurban areas and business districts experiencing urban Road, NMR Avenue and Walter Gilbert Road in thedecay by boosting capital investment in buildings in north.UDZ areas. This incentive offers a tax deduction of 20% in the Developers and investors can capitalise on this tax first year, including an annual depreciation of 5% overwrite-off for construction or refurbishment costs of the next 16 years.commercial properties in UDZ zones, such as theeThekwini Municipality in Durban. Tax is deducted from the property owner’s complete tax bill. Accelerated depreciation will be counter- “Developers and investors balanced by any other income (personal income tax) can capitalise on this tax including income received from the particular invested write-off for construction building. or refurbishment costs.” For significant savings, rental management scheme The boundaries of the eThekwini UDZ area includes benefits include:Durban Point, Bell Street in the south through toShepstone Rd, Victoria Embankment, Alexandra • A well-established short and long term rental market company to let and manage commercial space from on-site office. • Great investor returns in short-term corporate letting market. • UDZ Allowance available (effective 18% discount on purchase price).50 MAY 2015 SA Real Estate Investor www.reimag.co.za
To qualify, developers or investors must submitthe following documentation to the South AfricanRevenue Service (SARS) with their relevant tax returnto claim their tax deduction:• A UDZ Location Certificate from the eThekwini • If the estimated costs are likely to exceed R5 Municipality to confirm that the building is million, a UDZ 4 form must be completed and situated in the approved UDZ area submitted within 30 days after the commencement of construction or refurbishment of the building.• An occupancy certificate from the Municipality Part B is submitted 30 days after the subsequent• A UDZ 1 form (for the construction, renovation or sale of the building. refurbishment of a building) or UDZ 2 form (for • A UDZ Registration form, together with the a building purchased directly from the developer) building plans must be submitted to the eThekwini must be completed. Municipality• A UDZ 3 form must be completed by the developer of the building, if the entire building or part of the RESOURCES building (with a minimum floor area of 1 000m2) was purchased from a developer. Pam Golding Properties Newsletter 20 May 2008, www1.• The building needs to have been completed after durban.gov.za/durban/invest/economicdevelopment/ the date stipulated in Gazette number 27077 investment/overview/tax_zones when the approval for the eThekwini zone was demarcated.• The developer has not already claimed a UDZ allowancewww.reimag.co.za MAY 2015 SA Real Estate Investor 51
urban buzz in a peaceful park. a unique lifestyle investment. EXCLUSIVELY MARKETED BYCHARLIE BRAVO #450-15 EXT • Spectacular new residential development • Bright, spacious split-level apartments • Air conditioning throughout • Relaxing sky gardens on every floor • Prices start at R1,75m • An easy stroll to Gautrain station and Rosebank Mall • 24 hour security • Clubhouse, pool and entertainment areas • Buzzy urban infrastructure with a green and tranquil heart • Cnr Baker and Keyes Ave, Rosebank Victoria Russell 074 683 1222 [email protected] www.pamgolding.co.za
REI OFFSHORE EXPERT Q&AAFRICA HAS HIGH WEST AFRICANGROWTH POTENTIAL DEVELOPMENTST he Knight Frank Wealth Report Attitudes Survey indicates that the growth Mark Bradford potential in wealth in Africa was 89% last year, while the predicted outlook for Chairman this year is at 82%. Africa is third on the list of continents, with North Americafirst and Latin America at 85%. JLL Sub-Saharan Africa Out of the top 40 cities where Ultra High Net Worth Individual (UNHWIs) invest, Q How do you see the West AfricanJohannesburg is listed as 28th and Cape Town 36th. This survey takes into account story developing in the next fewwhat that city has to offer and why it is in high demand. years? The Prime International Residential Index lists Cape Town as 8th in the world West Africa is rich in both natural resourcesrankings (with a 13.2% annual growth) and Johannesburg in 19th position, (with and population. I ts future success will8,7% annual change). These are the only two cities in Africa to feature in the top 100. be dependent upon the speed with whichLondon is comparatively listed in 32nd position with 5,1% growth and Buenos Aires as it is able to conver t its economic base to99th with a -15% change. manufac turing and ser vices. The prevailing fall in global commodity prices may force In comparing property prices, the survey shows that $1 million will get you governments and business to focus on this17m2 in Monaco and 204m2 in Cape Town, which does make this area attractive to conversion. What is needed is for governmentsforeigners. to invest in infrastructure, regulatory transparency and to assist investors by UHNWIs are allocating funds to offshore property investments. Peripheral markets increasing the ‘ease of doing business’such as Ireland and Spain are benefiting from this trend. in the region. “A property investor knows that if the lean years are to continue, one buys thesafe prime assets, like offices in Manhattan or shops on the Champs-Élysées. If the Q Are Nigeria’s Eko Atlantic City andeconomy is about to improve, the riskier but higher-yielding properties are where Angola’s Baia de Luanda takingopportunities lie,” says James Roberts, Chief Economist at Knight Frank. shape? Dale Ramsden Unlike so many of Africa’s planned Founder and Managing Partner developments, Eko Atlantic is well underway. RMB Westport Land has been reclaimed from the sea and construction has commenced. Eko Atlantic Developing infrastructure is a core factor in sustaining promises a live, work and play environment growth on the African continent. Sub-Saharan on the edge of Victoria Island, a vision which Africa needs these infrastructure developments in principal will be welcomed by many to be truly globally competitive. The ‘supply and corporates and residents of the city. The demand mismatch’ in West African countries such as promenade of Baia de Luanda has provided Ghana, Nigeria and Angola creates opportunities for momentum for the re-development of property developing infrastructure. within its proximity. It will provide office and residential accommodation in two nodes, both Kganya Kgare of which are integrated with this vibrant city. Economist: Emerging Markets Stanlib Q What is driving Nairobi’s momentum? There are many divergences within the African continent and consistent standards will go a long Nairobi is regarded as the corporate gateway way to addressing challenges. Inflation in East Africa to East Africa. This established city has is well within target and the Kenyan Shilling is very scale and offers modern office, retail and stable, with 6% growth expected in 2015, inflation in residential accommodation. Unlike many Nigeria is expected to accelerate from the middle of African countries where economies are heavily the year and interest rates are at an all-time high. reliant on resources, the Kenyan economy is built on a number of sectors. It is this broader base which gives Nairobi its momentum.www.reimag.co.za MAY 2015 SA Real Estate Investor 53
ZAMBIAZambiaHigh Potential As A PropertyInvestment Destination BY MUTEPA KAMOTO ZAMBIA AT A GLANCE T here has been good economic news trickling Income level: Lower income in from the Southern African region. Global GDP: US$26.82 billion (2013) investors are keen on finding the next big real GDP Growth: 6.7% (2013) estate investment destination. Population: 14.6 million (2014) Inflation: 7.1% Zambia with a population of just over 13 million Political stability: 0.39 (2013) people has lots to offer in terms of various real estate Corruption Perception Index: 38 (2014) investment opportunities. Unsurprisingly, these positive African trends are going unnoticed. RESOURCES Zambia in the last few years has fought well to book Property 36 and French, I, ‘Real Estate: Building the its place among Southern Africa’s best investment Future of Africa’ (2015), PriceWaterhouseCoopers destinations. The country has seen fantastic investment in properties in the following sectors from residential, www.reimag.co.za commercial, retail, agricultural to tourism. While the agricultural sector is key priority in Zambia, vast virgin stretches of landscapes remain untouched. To the North of Zambia are two massive fresh water sources of Luapula River and Lake Bangweulu. The area boasts of untapped amounts of land in thousands of hectares. Northern Zambia has its fair share of unprecedented road development under the Link Zambia 8000 project. Massive opportunities “While the agricultural sector is key priority in Zambia, vast virgin stretches of landscapes remain untouched.” in the tourism and agriculture sector in this part of the country await exploration. It is evident that the real estate sector has arrived at a saturation point in almost all the developed countries. This has compelled international real estate investors to search for profitable opportunities in developing nations such as Zambia, which has an emerging economy with favourable demographics. Zambia presents an extensive investment opportunity for global participants especially in the priority sectors of retail, agriculture, housing and tourism because of a huge imbalance between the demand and supply in the property sector.54 MAY 2015 SA Real Estate Investor
BOTSWANA Get High Returns On Your Investment Unexplored opportunities in many sectors. BY KILLION MOKWETEBotswana’s property market is a small but major urban centres such as Francistown, Jwaneng growing sector with high returns, albeit faced and Maun offer limited opportunities in areas such with challenges of sustainability and funding. as tourism and mining but one has to be prepared toIn 2011, the IPD’s Consultative Survey ranked the undertake extensive feasibility and viability to ascertainBotswana property market’s ungeared total returns the long-term sustainability of investing.above that of South Africa, France and even that ofthe United Kingdom at 20.9%. The returns fluctuated Despite Botswana’s attractive property return inin 2012 and 2013, but still showed positive returns at previous years, there is currently a looming threat to17.9% and 21.4% respectively. The key drivers have accessing finance due to the banks’ liquidity crisis.been attributed to the boom in commercial, office and Recent banks’ liquidity fears have prompted the Bankindustrial units, which were in demand from diamond of Botswana to cut Bank Reserve Requirements topolishing sight holders during the relocation of the 5% in order to boost liquidity in banks and jumpstartDiamond Trade Centre from London to Gaborone. lending. The effects of this have been hardest felt in the mortgage and property finance sectors with most The market context in terms of geography and big banks rolling back their products and some evendemographics has key elements an investor needs to downsizing their mortgage departments as a result.take into consideration while assessing investmentopportunities and viability. Botswana’s limited property consumer base is compounded by the fact that the majority of these “The property market income earners are in the public service, which has is potent for investment seen salary stagnation for the past five years (although there has been a 6% rise in March 2015). According in Botswana.” to a Finmark report (2011), 70% of income earners cannot afford a mortgage loan. These factors paint a Firstly, it is important to note that Botswana’s gloomy picture for an investor looking for a long-termpopulation is only 2 million. According to a survey done sustainable property investment.by think tank, Finscope, 27% of the adult populationdid not earn any income by 2011, while 35% of adults However, some areas remain unserviced such asearned less than P1, 000 per month. A further 26.3% affordable housing, retirement homes and studentearned less than P10 000 per month. This fact plays a housing. These areas, which had issues of prohibitivebig part in the demand for space and buying power of legislation and lack of government support in thethe population. past, have recently seen new favourable planning laws passed and increased government commitment Secondly, it is worth noting that the property market in providing resources to facilitate developments.is potent for investment in Botswana, where it is Demand for affordable housing remains high andmainly centred on the capital city Gaborone. Other privately developed student housing and retirement homes remain an unexplored opportunity with great potential. RESOURCES Boidus Mediawww.reimag.co.za MAY 2015 SA Real Estate Investor 55
FOREXCurrency TrendsHow global forex trends affect youroffshore property investment BY ANDREW RISSIKW hat a great time to be talking about investing long term stability of the single currency.The end result offshore. The South African Reserve Bank is people selling Euros and buying other currencies has just further relaxed capital controls and instead.one can now use R11 million annually per individualfor foreign investment. There is one long term trend that is clearly evident and that is the Rand is weakening at around 8% There are also dark clouds brewing over the local per annum against the major currencies with a fewinvestor community as irresponsible utterances from differentials due to the factors described above.Government about radical economic transformationare being bandied about all over the media. Owning affordable property offshore is a must. Once you have made the decision to invest offshore, apply Whichever side of the fence you sit on, climb out of similar criteria that you would for an investmentyour comfort zone and start hedging your investment property at home. Understand the local environmentportfolios by using the allowances that are available (if by answering the following questions:you have not already done so). • Is there rule of law? Whilst there is so much negativity around South • What are the rights of ownership?Africa and in particular the Rand, do not be fooled • Is the country doing well economically?that there are no problems experienced elsewhere in • Is the local market still below the highs of thethe developed world. Currencies are the barometers ofa countries economic conditions and with uncertainty global financial crisis?being the norm worldwide right now, volatility between • Are you clear about which areas are desirable, andcurrencies is a serious reality. which are not? Why is the Dollar strengthening, when the Euro • Do you have a local partner on the ground you canis weakening against the Rand? Look at the UnitedStates where there is talk about raising interest rates. trust?This move will make holding Dollars more attractive.So, why not sell your risky currency and buy Dollars? Currency volatility and trends are just a small part ofThe end result is the strengthening of the Dollar. the whole process. You do, however, want to get it as right as possible. Look at Europe where Greece is battling to repayits debt. The political will to resolve their problems is RESOURCESnon-existent, so there are big question marks over the Sable Forex56 MAY 2015 SA Real Estate Investor www.reimag.co.za
AFRICAAffordableCommercial SpaceCheapest Locations ForOffice Space In AfricaT he commercial real estate ranking is based on average prices per square meter drawn from the sales price of online listings. The top 10list takes into account both affordability as well as theavailable supply of commercial property in each area todetermine the leading locations to invest in office spaceoutside of traditional central business districts. Office space in the Guéliz area of Marrakech inMorocco is on average priced at US$2300m2. Taking second place on the list is Ethiopia’s capitalcity. Prices for office space in the Summit area of AddisAbaba average 1039.61 Ethiopian Birr, equivalent tojust over US$50m2. Westlands, an affluent area in Kenya’s capital Nairobi,claims fifth place. Buying an office in the area, wherebusiness owners can find some of the most affordablecommercial property outside of the city’s centralbusiness district, costs an average of US$664.23. The port city of Zarzis in Tunisia (US$871.28m2)and Béjaia, a port in Algeria (US$1004.98m2) roundsout two of the top five locations to buy office space inemerging African markets. Area Country Sales price m2 Sales price m2 Sales price m2 (local currency) (US$) (ZAR)Summit, Addis Ababa EthiopiaWestlands, Nairobi Kenya 1039, 61 50, 83 615, 043Zarzis Tunisia 61538, 46 664, 227 8037,1467Béjaia Algeria 1700 871, 28 10542,488 98039, 22 1004, 98 12160,25858 MAY 2015 SA Real Estate Investor RESOURCES Lamudi www.reimag.co.za
AUSTRALIA Australian Rental Property Pros And Cons Of Cash Flow On Property BY BILL RAWSONI n the Australian property media, the pros and cons is encouraged by certain tax allowances on new proerty. of capital growth versus cash flow on property is Several investors interviewed tipped the Central still being debated at length. Rawson said that to his surprise he thought that the Business District (CBD) peripheral sectional titlelast word on this subject had been said some time ago properties as likely to offer the best opportunities forbecause there is usually a high connection between growth, particularly if they are nearby to amenities.good rentals and capital appreciation. “It is noteworthy that most people advised avoiding “If you achieve good rentals you will usually the luxurious top priced properties in favour of theget significant capital appreciation and vice versa. medium priced units.The same approach tends to workHowever, those interviewed in the Australian property in South Africa,” Rawson says.press made many points that are as relevant in SouthAfrica as they are in Australia,” he says. “One investor, Cam McLellan, was quoted as saying that his researchers always begin with the elimination “Genuine wealth is achieved of markets that common sense indicates are not as well when the value of your assets positioned as they might be or have been performing so double in every growth cycle.” well that they well be nearing the overvaluation stage.” Those backing capital growth, argue (to quote “McLellan says that he waits for a stagnation or evenan article in the Australian Property Investor) that downturn period in the propery market before buying.genuine wealth is achieved when the value of your The adverse conditions at these times make it possibleassets double in every growth cycle. to obtain a good price as there is less competition.” These, as in South Africa, usually cover time periods “Later when the property market does begin to showof seven to ten years, but in some cases they can be real signs of life he may liquidate some of his equityas short as five years. To achieve this very valuable and buy again in the lower price brackets.”doubling, the rental income has to be supplemented bysignificant capital appreciation. “This advice is quite clearly sound, but in South Africa many new projects continue to show significant Most people agree that new property appreciates capital appreciation five, ten or more years after thisfaster than old property. This outlook in both countries completion – to the surprise of those who still stick firmly to bubble burst philosophies,” Rawson says. RESOURCES Rawson Property Group, Australian Property Investor Magazinewww.reimag.co.za MAY 2015 SA Real Estate Investor 59
LONDONCrossrailOn Track To OutperformThe Greater London MarketBY MIKE SMUTST he tunnelling for Crossrail, Europe’s largest out of central London, often along major transport infrastructure project, is nearly complete but lines. the long awaited transport upgrade is alreadyadding massive value. According to new research from As the opening of Crossrail approaches, the increasedKnight Frank, the price of residential property within a connectivity combined with new development can help10 to 15 minute walk of Crossrail stations in London, feed into even stronger price growth around stationshas outperformed those houses in the wider area by an towards the East and West, especially those which haveaverage of 5% since 2008. underperformed to date, and where housing supply is set to be delivered in the coming years. “Homes near to the Bond Street station haveexperienced the biggest price rises, climbing by 82% “Transport is a keyover the past six years, far above the 44% growth seen consideration for tenants andin Ealing over the same period,” said the report. homeowners alike.” When fully complete in 2019, Crossrail will bringan additional 1.5 million people to within a 45-minute Between now and when the line starts to operate fromcommute of the centre of London. In many cases it is the end of 2018, the demand for both public transportnot just shorter travel times that are boosting demand and housing will continue to grow, making the deliveryfor property around the Crossrail stations, but also the of this new cross-London line a momentous event forlarge regeneration projects connected with transport commuters and property investors alike.projects such as Crossrail, which tend to lead to awider choice of high-end local shops and other new Housing stock within 10 minute walkzonesamenities. Source: Knight Frank Residential Research/Land Registry *1km for Canary Transport is a key consideration for tenants and Wharf Data based on postcode stationshomeowners alike, and this increased demand forproperty close to transport links has a clear effect on RESOURCESprice performance. Smuts & Taylor Ltd Such trends have been evident in the past -residential prices in Canary Wharf and Tower Hamletsaround the time of the Jubilee line extension in 1999rose by more than 60% in the four years running up tothe opening of the extension. While other factors, suchas the wider rise of prices in London and large-scaleregeneration of the area clearly played a part, morethan two-thirds of Estate Agents questioned in 2001said the extension has had the biggest impact on theproperty market in the area since 1991. With London property becoming increasinglyunaffordable for the average first-time buyer, many arelooking a little further afield in an attempt to get ontothe housing ladder. This has seen price increases ‘ripple’60 MAY 2015 SA Real Estate Investor www.reimag.co.za
IRELAND Return of the Celtic Tiger Dublin’s Property Market Shows A Strong Recovery BY WIM PRINSLOOD ublin is a real estate market that is showing • Rents have recovered well during the past few a strong recovery after experiencing a severe years, but unlike many other markets, they are downturn that lasted all the way from 2007 to still well below historical peak levels. This is anearly 2013. important observation, as it suggests that scope exists for further rental reversions in coming years.Bursting of the Irish Property BubbleAfter reaching a peak in 2007, the commercial property • Construction activity in Dublin only startedmarket in Ireland fell into a recession that lasted for an to turn the corner in 2014. No new office spaceentire five years and resulted in a 60% decline in its was delivered to the market from 2011 to 2014market value. and nothing will be delivered in 2015. As supply continues to tighten, prime rents are set for further At the height of the recession, the Irish property increases.market contracted in volumetric terms to the pointwhere there was no functioning investment market, • Investment yields in Dublin have declined sincewith deal activity consisting of a limited number of the highs that were reached in the midst of Ireland’ssmall scale transactions. The major issues in the Irish recession. Importantly, yields are still attractivemarket that were exposed when the bubble burst relative to European cities like London, Paris andincluded excess supply, a sudden absence of bank Berlin.funding and a number of highly leveraged real estatesyndications. Easy money has been made in best-in-the-class real estate markets like London and New York. The DublinThe Irish economic recovery real estate market, on the other hand, is still early inAfter considerable social and financial damage, the its recovery and is supported by a robust economy,Irish government started to implement measures to which will receive, but clearly does not need monetaryrepair the Irish economy and its banking sector. The support from the European Central Bank.stability brought about by these measures led to Irelandbeing the first country to emerge from its bailout Dublin rental indexprogram in December 2013. After five years of decline,real estate values finally bottomed out in 2013. Today, investment grade ratings have been restoredby all of the major ratings agencies after Ireland’ssuccessful return to the global capital markets. In2014, the Irish economy grew by 4.3% and, after muchsacrifice and reform, Ireland is currently one of thefastest growing economies in Europe.Dublin leading the way RESOURCESThe Irish recovery is nowhere more profound thanin the capital city Dublin, where vacancy levels have Reitway Global Propertydropped from their peak of 21.18% in 2010 to lessthan 10% at the end of 2014. Furthermore, there are anumber of factors at play that make Dublin one of thetop real estate destinations available to investors:www.reimag.co.za MAY 2015 SA Real Estate Investor 61
INVESTOR INSIGHTSProperty InvestingIs A PeopleBusinessInvesting Brick By BrickBY MEGAN DIENERP ip Stehlik is business owner specializing in flow. If he had been investing for capital gains he will franchise businesses and lending. He now trains have gotten hurt in the down market cycles. and mentors new property investors at TigrentLearning in Canada. He believes in having multiple streams of income.In 2007, Pip became one of the top property trainers in Pip’s most rewarding experience is helping to facilitatethe United States and Canada. Over the past year, Pip people to get into the property market. It is satisfyinghas been teaching internationally, helping hundreds of when they use a lease option strategy that they could notpeople by educating them on how to achieve their goals have done without his help and are so happy to becomethrough property. new home owners. Pip tells his students they must keep moving forward. He grew up working at his family-owned grocery “Some will, some will not, so move on,”he says. Dwellingstore. His family was worried about the new Wal-Mart on successes and failures gets them nowhere and itcoming to their community and harming the business prohibits them from finding the next great deal.and was looking for a Plan B for ways to make moremoney for ttheir store. PIP’S 10 BASIC INVESTMENT TIPS: Working here taught Pip many skills sets that he still 1 Get educated. You are going to pay for it through mistakes oruses today. He learned that patience is needed to work having someone show you what mistakes to avoid.not only in retail but also with his family. He realizedthat you need determination to work hard during the 2 Get a mentor. Learn from their mistakes and let them holdlong hours. He also learnt how to work with people. your hand through the process. Pay them well, as you want them to get rewarded for helping you. Property is a people business. Many people think itis just bricks and mortar, but every deal involves people. 3 Help people. Do not focus on the money. Focus on solving aBehind every property deal are people who have a problem.problem and it is Pip’s job to help them find a solution. 4 Listen twice as much as you talk. After graduating with his MBA from the University 5 Never stop learning.of Nebraska Pip realized that his traditional education 6 Make offers. If you are not making offers you are notdid not show him how to make money passively, he thendecided to take control of his financial future and learnt making money.how to invest in property. 7 Get out of your comfort zone. This is the only time you grow. 8 Do not invest for capital appreciation. Pip started his investing career in 2002 after doing 9 Always strive for greatness. If your goal is to be great do notRobert Kiyosaki’s Rich Dad Education. Following hisAlliance Legacy mentor’s advice, he learned and earned start settling for being good, as you will do that in all facetsalong the way. Pip successfully invested in 41 properties of your life.within 16 months of doing his training. 10 Have fun. If you are not having a good time, why wake up? He was in a hurry to get going and bought many RESOURCESproperties in his first few years. Sometimes, he did notdo as much due diligence as he should have, but even Brick Buy Brick, Richer Life, Tigrent Learning Canadathough he had been through high and low markets hisinvestments were fine since he was investing for cash62 MAY 2015 SA Real Estate Investor www.reimag.co.za
RESOURCESEVENTS COMPETITION WINNERSREIM-Rode Conference Housing for Africa CSOiNfGiRsAoTULPAuTIOleNS!When: 19-30 August 2015 When: 12 MayWhere: Johannesburg, Durban, Stellenbosch, Where: Sandton Convention Centre,Bloemfontein, Port Elizabeth and Windhoek, JohannesburgNamibia. Bookings: Meghan Gilson onContact: Lynette Smit on (012) 664 4159 or (021) 700 4300 or emailemail [email protected] [email protected] Annual SAPOA Western Cape PropertyConvention and Development ForumProperty Exhibition When: 7 – 8 MayWhen: 19 - 21 May Time: 07:30 – 19:00 on 7 May andTime: 11:00 08:00 – 17:00 on 8 MayWhere: International Convention Where: Crystal Towers Hotel,Centre, Durban Century City, Cape TownBookings: http://sapoaconvention.co.za/ Bookings: http://www.sbso.za/wcpdf2015/sapoa-registration.htm registration.php?page=registrationRICS Accredited Tshwane International Sifiso Pule has won a copy of MarcMediation Course Trade and Infrastructure Wainer’s book, Making My Marc: Investment Conference Lessons from a Life in Property.When: 1 - 3 May (Module 1), (TITIIC)4 – 5 May (Module 2) “Having read about Marc WainerWhere: Khaya Lembali Conference Centre, When: 20 - 22 May in REIM, I was personally inspiredMorningside, Durban Time: 08:00 – 17:00 to pursue my most ambitiousBookings: Alexandra de Beer at Where: CSIR International Convention Centre, property dream. I like REIM as [email protected] Pretoria provides content on exclusive local and international best practices in www.reimag.co.za Bookings: Estie Schoombee at property investment,” Sifiso says. [email protected] MAY 2015 SA Real Estate Investor 63
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