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April 22, 2008

Balance needed on draft plan to favour 100% black-owned companies

SAPOA is confident that it is possible to find a solution to promote BEE within seasoned property companies while benefiting the National Department of Public Works' goal of developing new black entrants to the property sector to speed up its BEE achievement

This follows concern from several of the association's members subsequent to the announcement by the department of its controversial plan to favour 100% black-owned property companies. The National Department of Public Works is both South Africa's largest property owner (with a portfolio estimated to be over R100 billion in value) and user.

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Posted by StaffWriter at April 22, 2008 11:03 AM