2011-07-12: Property management gets a shakeup

Change may not be easy but it needs to be embraced and accepted for survival in any competitive environment.
The Johannesburg Property Company (JPC) recently underwent a business reengineering exercise to improve operational efficiencies, accountability and better reflect its economic and social objectives.

JPC’s core business is to provide property asset management, property management and development thereby maximizing the social, economic and financial value of the City’s total property portfolio. Reengineering the company helped it to focus and improve in the areas of asset management, obtaining and maintaining value from its property portfolio and the sale and lease of Council owned land.

The Company currently manages a property portfolio worth R8.6 billion. It recently recovered 33 fraudulently transferred properties worth R200 million.

JPC was instrumental in having the whole of Soweto surveyed for the Land Regularisation Programme and has completed developments such as Melrose Crossing, University of Johannesburg campus upgrade, Soweto Hospice, Orlando Towers, FNB Westbank head quarters and Heroes Bridge to name a few developments. Over 8000 jobs have been created in the past five years.

A formidable challenge of illegal outdoor advertising and development is to be urgently addressed through better urban management measures and bylaw enforcement.
The outdoor advertising portfolio generates in excess of R110 million annually and has to be correctly managed as and when contracts end to prevent fraudulent use of sites.

Ends

“Turning Johannesburg into a world class African City by attracting investment, enabling economic growth and job creation”.

Issued on behalf of member of the mayoral committee for Economic Development Councilor Sello Lemao

By
Virgil James
Spokesperson
City of Joburg
011 407 7226
082 467 9415​