PROPERTY: Golding, JHI In Joint Venture
Recent Western Cape Business News
Two of the South African property industry's leading players - the Cape Town-based Pam Golding Property group and JHI - have entered into a joint venture association agreement.
Comment Marna van der Walt, CEO of JHI and Andrew Golding, CE of the Pam Golding Property (PGP) group in a joint statement: "By entering into this alliance we are able to co-operate synergistically and capitalise on each other's core strengths, namely PGP in the residential arena and JHI in the commercial sector. In essence this means that PGP becomes JHI's preferred supplier in respect of residential property services – including PGP's hospitality services, while JHI becomes PGP's preferred supplier in regard to commercial property services. JHI will still actively pursue developments via Katavi Properties, their subsidiary company focusing on residential developments in previously disadvantaged areas."
JHI and PGP are recognised leaders in their respective fields and therefore were natural choices for each other, and in addition, have enjoyed an informal association over a number of years. In fact, PGP was a stakeholder in the former Gensec Property Services, which was incorporated into JHI.
The JV association paves the way for each organisation to focus specifically on core competencies while exploring and capitalising on the additional opportunity that exists within either the commercial or residential sector respectively. It is anticipated this will be a meaningful and successful association with a mutually beneficial flow of business in both directions.
Say Golding and Van der Walt: "This initiative will facilitate both the organisations’ ability to drive their respective core businesses forward in a specifically focussed manner and enable them to allocate further capital and human resources to achieving their medium and long-term strategic imperatives. These include their continued market leadership roles in South Africa, continued expansion into Africa and further internationalisation of the two groups globally."
From a practical perspective the PGP commercial and broking operation has been absorbed into the current JHI operation and with effect from November 2009, all the former Pam Golding Commercial agents/brokers are incorporated within JHI. The result is an extensive nationwide team combining the commercial and industrial agents from both Pam Golding Commercial and JHI.
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