Property’s new kid on the block

A NEW PROPERTY management services company is to be established following a strategic partnership entered into between the property management services business of Liberty Holdings and JHI Properties, the retail management division of Excellerate Holdings. The transaction was effective from May 1 and the new company being formed is called JHI Retail, with JHI owning 51 percent and Liberty the balance. The new company’s strategy is to grow the retail offering in South Africa and the rest of Africa, with JHI Retail offering retail management and related services to its multiple clients and a variety of future clients. Thabo Dloti, the group chief executive of Liberty, said on Friday that the deal was in line with Liberty’s growth strategy of partnering with specialist providers to build a Pan-African alternative asset manager of choice through Stanlib. “We firmly believe this partnership also demonstrates our strategic intent to realise growth and attract third party mandates in South Africa and other territories,” he said. Dloti stressed that the Liberty property portfolio managed by Stanlib remained a core part of Liberty’s offering to customers, and the transaction aimed to enhance the service experience and efficient management of the current portfolio of properties. “There is currently a demand in the market for specialised retail real estate management skills to service the growing retail portfolio in South Africa and the rest of Africa. We are confident that JHI Retail will present an attractive service offering to the retail property market,” he said. Marna van der Walt, the chief executive of Excellerate Property Services, said the partnership would create additional capacity, strengthen existing capabilities to realise value and enhance JHI Retail’s ability to deliver world class property management services. Nomzamo Radebe, the chief executive of JHI, said it was excited about the growth and opportunities the joint venture would unlock for JHI Retail. – Roy Cokayne