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 majorityThe SA property industry is on the cusp of real economic transformation of the sector through small and medium enterprise development.

Too often the development of black SMEs is viewed as a box-ticking exercise by corporates eager to fulfil the requirements of the government’s codes for broad-based BEE The cost of attendance, logistics and exhibiting are some of the most prohibitive factors for SMEs and need to be addressed in the future. In addition, there is also a need to disseminate the content of the conference to broader audiences for the benefit of players throughout the sector.Global research indicates that big business connections can be critical for small companies.

How many companies conducting transformation programmes such as enterprise and supplier development in the sector can accurately quantify the real tangible returns? More importantly, how many SMEs can tell of the real impact on their lives?The sector seems to be doing well in ownership compliance, hitting its BEE requirements, according to the PSCC data. However, the value of black-owned property remains miniscule.

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