The inner city property sector is a challenging space to move in, and TUHF is always looking for ways to give our clients the edge. There has been a lot of talk around densification and what this could mean for our cities. With this is mind, TUHF hosted a TUHF Talk to give some insights into this concept.
Hosted by Paul Jackson, CEO of TUHF Limited, the presentations looked at how responsible developers can take advantage of – and be proactive regards densification. “Our clients have developed more floor space for use than the area of the Mall of Africa shopping centre. It’s encouraging because TUHF is aiming for ten thousand 20 unit projects per metro in the next 5 years,” said Jackson. It’s how we look at tackling the issue of urban sprawl.
What is density? It is the quantity of people or things in a given area or space.
We can say that Density is a key concept in planning, architecture and urban design that is used to describe, predict and control the use of land. It includes various urban efficiencies and the concentration of residential development that makes a city.
Robert Lowdon, co-founder of South Point Property Holdings, shared his knowledge around the issue of densification. “The opportunity for the property sector is huge, with populations growing it’s a prospect that should be embraced. Importantly, this requires pro-active management and intervention: ensuring that we have high rise residential units; ground floor shops and restaurants coupled with a good social infrastructure and amenities,” said Lowden.
DID YOU KNOW? 67% of the South African population is below the age of 35.
Lowden stressed that developers should be efficient and effective – looking to all possible amenities for tenants. Opportunities exist to leverage existing infrastructure, to be safe and useful. It’s a chance to prepare for the huge housing demand that will surely follow the population growth.
Lindiwe Dyubeni, longstanding TUHF client shared her property entrepreneurship journey along with some excellent tips for growing your property portfolio. Top of the list was: Be patient -It’s a long term game. Being hands on with agents, tenants and property managers, and the property itself is an important part of your journey to success.
The TUHF Talk session ended on a high with a panel discussion hosted by Henry Chitsulo from Bold Moves and four TUHF entrepreneurs. They gave insights into the journey of a property entrepreneur, these TUHF clients shared some interesting pointers they learnt along the way:
1. Learn as much as possible about the sector
2. Be a good TUHF client – a good borrower (i.e. paying back your loans on time)
3. Know your prospective tenants – do your research
4. Be disciplined and consistent
5. Manage your expectations
6. Property increases in value over time, it’s important that you look after your buildings.
“It’s well known that we have an open door policy at TUHF. Our clients are always welcome to come and have a chat about opportunities that are out there. We are also very proud that our clients are happy to share and assist each other with knowledge and experience. It means they, like us are focused on long term value creation, making sustainable and far-reaching decisions,” concluded Jackson.