The City of Tshwane has a property portfolio spanning more than 56 000 assets. It is for this reason that the City identified the need to host a property seminar, targeting Tshwane development partners. This will form part of the journey that the City is embarking on to reinvigorate Tshwane's property sector.
Under the theme, "Leveraging the value of public sector real estate", the seminar's primary objectives were to –
· announce the strategic intent of the City of Tshwane with reference to releasing property assets to the market;
· engage constructively with stakeholders on identifying, capturing and releasing the value of the public sector real estate portfolio to maximise revenue; and
· explore innovative and effective approaches to growing and managing the City of Tshwane's property portfolio.
As part of his keynote address, the Executive Mayor of Tshwane, Cllr Stevens Mokgalapa, said: "As a City that is open, honest and responsive, we are ecstatic to be hosting a seminar of this calibre. We have made a clarion call to the private sector to hold hands and partner with us in driving a strong property sector in Tshwane. Significant advances are being made in the inner City to unlock property development opportunities."
"The construction, through a public-private partnership, of this very municipal headquarters in the heart of the inner city demonstrates the City's commitment to driving inner city revitalisation through property development. 56 properties have just been sold to the Department of Public Works to the tune of R813 million as part of facilitating the Re Kgabisa Tshwane Inner City programme," added Cllr Mokgalapa.
In his presentation, the City Manager, Dr Moeketsi Mosola, touched on the City's strategy regarding public sector property development, the city as preferred destination for private sector real estate development and the Strategic Investment Committee. "In the capital core –Tshwane's inner city first order node, amongst all metropolitan nodes, plays a very important role with regards to the concentration of retail, office and government buildings to be found in the area," mentioned Mosola. "The economy of Tshwane is the fastest growing in Africa and the 17th fastest in the world, allowing the Metro to create jobs at 7,8%, according to the Brookings Institute report released in May 2018," he added.
Key discussion points were:
· Leveraging the revenue value of public sector real estate
· Analysis of real estate market trends and implications for Tshwane
· Catalytic land development as a tool for public real estate development
· International comparative studies on public real estate management
· The role and contribution of public real estate in facilitating spatial transformation
· Unlocking opportunities across the property value chain
Participants in the seminar included the SA Cities Network, Capital City Business Chamber, South African Property Owners Association (SAPOA), National Treasury (City Support Programme), research and academic institutions, private sector property stakeholders, and national, provincial and local government.
There were panel discussions to get a series of expert views on the challenges and opportunities that are presented with the City of Tshwane's group property approach. Various representatives from the above-mentioned institutions engaged further on various topics.