Leadership talks to founding member and CEO of TUHF, Paul Jackson, about the inner city property market in South Africa.
Read the original article published in the Leadership Magazine: May 2016
News/Insights
JOHANNESBURG, Braamfontein. May 11, 2016 – Organized as a refreshing breakfast talk, TUHF hosted a conversation around construction, discussing and addressing the complexities and different challenges faced by inner city property entrepreneurs when dealing with the construction process of an inner-city project.
Hosted by Paul Jackson, CEO of TUHF Limited, the talk captured specific elements of the construction process involved in either refurbishing or building a new property aided by speakers such as Andrew Murray- Chairman and co-founder of Murray & Dickson Construction, Tapiwa Muvevi who has been a partner at Shabangu Architects since 2004, Ryan Du Preez who currently stands as a Partner at Teifenthaler attorneys with specialties in construction law, and Brendan Smith- Managing member at BTS Projects.
“Construction is an adversarial and tough business…” explained construction expert Andrew Murray. “You are only going to get the best results from a contractor that you can trust and you need to make sure you meet with your professional team on a monthly basis to address the financial issues that arise from the construction process.”
Tapiwa Muvevi, with over 17 years of project experience spoke about the architectural tips for housing, illustrating fundamental construction processes such as managing the ongoing project insurance requirements including the resolution of insurance claims, receiving and distributing statutory compliance certificates and documents to appropriate parties, and assessing and reporting on end user installations.
Ryan du Preez of Teifenthaler Attorneys elaborated more on the legal side of the construction process, explaining that the interest lies in the building and that it is necessary that property entrepreneurs create security for their investments. “Situations arise where the work is defective, the contractor is bad at their work or he has simply left. That’s why it is important that you get documentation guaranteed by ABSA or Lombard to gain security from the contractor, guaranteeing performance security.” explained du Preez. “Time barring is important. It is necessary that the contractor does certain things in time in order for them to get more time and money. With this regard an investigation of who he is, what he has done in the past and speaking to previous employers puts you in a favourable position.”
Brendan Smith finished off as our last speaker, providing the audience with a presentation on the different surprises that may arise in the construction process- Scope creeps which are processes where projects grow beyond their anticipated sizes, Cost overruns- arising from inadequate designs, insufficient information at the onset of projects and lack of financial control, as well as project delays.
Smith further explains that to tackle unlikely surprises during construction it is best to not be too hasty to rush onto site and to plan thoroughly. “Projects must be executed under sound and firm project management principles and the more rigid the principles and procedures are, the less chances of a disaster happening,” said Smith.
“Quality is never an accident; it is what comes out of high intention, crucial efforts, experienced execution and hard work. And we want our clients to strive for that with every project they build,” said TUHF CEO, Paul Jackson as he closed off the event. “It represents the decisions of a true property entrepreneur.”
The conversation ended with light refreshments offered to the attendees, also allowing for networking for clients to gain more insight from our speakers on the different construction aspects to look out for.
For more information please contact us at 010 595 9000.
Visit us at www.tuhf.co.za and follow us on:
Twitter: @tuhfltd
Facebook: www.facebook.com/TUHFSA
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JOHANNESBURG – It was a proud night as 35 property entrepreneurs celebrated the completion of 6 months of property entrepreneurship training with TUHF.
“Although TUHF has offered training to our clients before, this programme is the first of its kind; facilitated by Professor Francois Viruly from UCT and Henry Chitsulo from Bold Moves and endorsed by UCT’s Faculty of Engineering and the Built Environment,” said Lusanda Netshitenzhe, Development Impact Manager at TUHF.
“Our training programme is designed to strengthen our client’s property investment knowledge & skills and to support them in growing their property portfolios. These entrepreneurs are catalysts in contributing to job creation, urban regeneration, local economic development and ultimately multiplying our economy,” continued Netshitenzhe.
The keynote speaker Sonja Loggenberg from the National Treasury’s Jobs Fund emphasized her respect and appreciation of entrepreneurs, the challenges entrepreneurs face and how critical their contribution is to the economy and society as a whole in moving South Africa forward.
Professor Francois Viruly, Associate Professor at the University of Cape Town’s Department of Construction Economics and Management saluted the graduates: “We have men and women here tonight who might not have had a formal tertiary education, but who have had the courage to move themselves forward to become property entrepreneurs and to further their knowledge through completing this programme.”
The 35 entrepreneurs attended the programme over the last 6 months working both individually and in groups to learn about topics such as property valuations, property development, property management, property law and property tax among others. Three groups were recognised and received awards for their well-researched projects which demonstrated that the intended learning outcomes of the programme were achieved.
TUHF is a non-bank financial services provider giving access to finance to entrepreneurs for the purchase, refurbishment or conversion of inner city properties to multi-unit residential or mixed-use projects.
Media contact: Tina Bodill,
TUHF – Marketing & Communications
010 595 9000
Josephine Tshaboeng and Simon Mkhize became property entrepreneurs with assistance from TUHF. Read about their experiences here.
TUHF is a proud partner in the development of the Maboneng precinct – one of the city’s best known and most successful reclamation and rejuvenation projects.Click here to read the full article
Futuregrowth, an asset manager and one of TUHF’s key partners, has increased its funding for inner city regeneration projects.Click here to read the full article
TUHF was awarded Mortgage Bank of the Year in June 2013 We are tremendously proud of the impact our commitment to inner city regeneration is having and look forward to continued partnerships with like minded investors in our cities and country. Click here to read the full article
TUHF started out as a group of 5 people with R21million in funds to lend before joining forces with the National Housing Finance Corporation and Futuregrowth against urban decay. Here is a brief history and explanation of what we do. Click here to read the full article